Keep reading to learn more about W-2 forms and filing taxes when you have more than one employer. If you're employed by an employer, as opposed to being self-employed, then your employer takes income taxes off of every paycheck you get. Employers withhold income taxes because the federal government and most state governments collect those taxes throughout the year.
Your W-2 form is a Wage and Tax Statement. It indicates how much of your income was withheld by your employer for both state and federal taxes. It also gives an exact report of how much money you made. The purpose of the W-2 form is to inform you, the state government, and the federal government as to how much money you earned and how much you paid in taxes.
With this information, the Internal Revenue Service IRS determines whether you're entitled to a tax refund or whether you owe more taxes. At the beginning of every year, you should receive a W-2 form from your employer. The employer will also send the W-2 into the IRS and the state government.
If they don't mail the W-2 to you or the other necessary parties, they face a penalty. You don't actually have to do anything with your W-2 in terms of filling in information. The W-2 will come to you with all the information filled in on your behalf. All you have to do with the W-2 is to ensure you attach it to your tax return.
If you have a second job, or multiple jobs, you need to have all of your W-2 forms before you prepare and file your taxes. Not only do you need to attach a W-2 form from each of your employers, but you also need the information from all of them to properly fill in your tax forms.
The "wages" line of your tax form is where you indicate your total employment income. You need to combine all of the amounts indicated in Box 1 of your W-2's on that line for an accurate report of how much money you made the previous tax year. This is not acceptable, as what was e-file rejected is a different amount than has been returned. I need to know who to reach out to to get this corrected. Was your return rejected, or did you receive a refund in a different amount than was expected?
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By: Naomi Smith. More Articles 1. Refund Due Most W-2s are electronically filed with the Internal Revenue Service now, so they know if you fail to report the income on your return. If you had more than one job this year, you hopefully received a timely Form W-2 from each of your employers and filed your taxes accordingly. You should get one W-2 for each job you worked, so if you had two jobs, you'll get two W-2 forms.
Life doesn't always go that smoothly, however, so you may have received a W-2 late or simply misplaced one and forgot about it. If so, don't panic. People make honest mistakes on their taxes all the time, and the IRS knows it. You'll have nothing to fear if you catch and fix your mistake promptly. If you forgot about or didn't yet have one of your W-2 forms when you filed your tax return, you can't just wait and add it to your taxes next year. You must instead file an amended return using Form X.
The law requires your employer to provide you with a copy of your W-2 by January Sometimes, however, this paperwork gets lost in the mail. Even if you get your W-2 on time, you may get a corrected one after you've filed your taxes. Whatever the reason your W-2 went missing, you need to take action as soon as you receive or find the missing paperwork.
Some taxpayers assume that as long as you report your income, it doesn't matter when.
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