Getting A W-2 From Your Previous Employer—And What To Do If You Can’t – Forbes Advisor – Technologist

One of tax season’s biggest challenges is gathering all the documents you’ll need to file your return by the IRS deadline—including a W-2 form from your employer.

If you left a job during the tax year, you should receive a W-2 from your previous employer. Regardless of how or why you left, your former employer is still required to send you this critical tax statement.

What Is a W-2 Form?

Form W-2, Wage and Tax Statement, is the document that employers use to report their employees’ wage and salary information. It shows the tax amounts that have been withheld from a worker’s paycheck and gives information about fringe benefits. The employer has to send a copy of the W-2 to both the employee (or former employee) and the IRS.

Key components of the W-2 form include:

1. Earnings. This section reports the total wages, tips and other compensation you received during the tax year.
2. Federal income tax withheld. This portion details the total amount of federal income tax your employer withheld from your earnings throughout the year based on your tax withholding selections.
3. Social Security and Medicare contributions. This segment outlines the contributions made to Social Security and Medicare. These figures ensure you receive proper credit toward your future Social Security and Medicare benefits.
4. State and local taxes. If you live or work in a state or locality that imposes income taxes, your W-2 shows the amounts of state and local taxes withheld from your earnings.
5. Other deductions and contributions. This section of the form may include information on retirement plan contributions, health insurance premiums paid through a pre-tax salary reduction plan, and other benefits.

The information on your W-2 form is essential to ensure your federal and state income tax returns are accurate. If the income you report on your tax return doesn’t match the information on Form W-2, or if you fail to file a tax return, the IRS will contact you.

When Should You Receive Your W-2 Form?

The IRS requires employers to send W-2 forms to all employees by January 31 of the following year. If that date falls on a weekend or holiday, the deadline shifts to the next business day. That means that for the 2023 tax year, all W-2 forms should have been postmarked or electronically sent to employees by January 31, 2024.

This rule for employers ensures that employees have ample time to prepare and file their tax returns by the April 15th filing deadline.

Employers who miss this deadline—or ignore their filing obligations entirely—may face stiff penalties.

How To Get a W-2 From a Previous Employer

Generally, if you haven’t received your W-2 by January 31, give it some time. Employers are legally required to postmark these forms by January 31, meaning W-2s sent by mail may arrive a bit later.

However, for 2024, that date has long since passed. If you still don’t have your W-2, there are several steps you should take as soon as you can.

Contact Your Former Employer

Direct your request to the company’s human resources or payroll department, as they typically are the ones who issue these forms. Politely ask them to send your form, and confirm your current address or email. If you have moved since leaving the job, your W-2 form may have been sent to your old address. It’s a good idea to ask for an estimate of when you should receive the W-2.

Use Online Access

Many employers now provide W-2 forms electronically through a secure online portal. If your previous employer offers this option, you may be able to log in to access and download your W-2 that way. Make sure you have the login credentials you need, and check the portal as soon as possible.

Contact the IRS

If your previous employer fails to send a W-2 despite your repeated attempts to get one, you can contact the Internal Revenue Service for assistance at 1-800-829-1040. When you call, be prepared to provide your personal information, including:

• Your name, address, Social Security number and phone number
• Your previous employer’s name, address and phone number
• The dates you worked for the company
• An estimate of your earnings and the federal income tax withheld, based on your last pay stub for the year

The IRS will contact the old employer on your behalf to request the missing form.

File Without the W-2

If you’re getting close to the April 15 tax filing deadline and still don’t have all the W-2s you need, you have two options.

1. Request an extension. Use Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, to request a six-month extension of time to file your return. Remember, an extension just gives you more time to file your return—it doesn’t give you more time to pay any tax you might owe. So work with a tax preparer or use your pay stubs to estimate your tax bill, then pay that amount by the April 15 deadline.

   Once you have more time to file, you can get the information from your W-2 by creating an online account with the IRS and ordering a Wage and Income Transcript. This transcript will show all the information reported to the IRS on your behalf for a given tax year. However, it might be June or July before you receive the transcript, according to the IRS.

2. File your return anyway. You can go ahead and file your return using Form 4852, Substitute for Form W-2, Wage and Tax Statement. This form lets you estimate your income and withheld taxes as accurately as possible. Bear in mind that if the actual W-2 you receive differs significantly from your estimated information, you may have to amend your tax return later.

If you have difficulties or concerns about filing an accurate tax return, it’s a good idea to work with a tax professional who can guide you on how to proceed.

What Is the Penalty for an Employer Not Sending a W-2?

Employers who fail to follow IRS rules by not sending tax documents—including W-2 and 1099 forms—or by sending them late will face significant penalties.

Federal law requires employers to pay a penalty for each form not filed on time and for each payee statement the company fails to provide. There’s no limit on the total penalty.

For forms due in 2024, those penalties are:

• Forms issued up to 30 days late: $60
• Forms issued 31 days late through August 1: $120
• Forms issued after August 1 or not filed: $310
• Intentional disregard: $630

For example, say a business has 10 employees and waits until September to send out W-2 forms. Because the penalty applies per form—with one form going to the IRS and another form to each employee—the cost would be $310 doubled, or $620 per employee. With 10 employees, the company would have to pay $6,200 in penalties to the IRS.

The IRS also charges interest on penalties, so the cost to the company could rise even higher.