Can I File My Tax Return With a W-2 Next Year?

It is common for taxpayers to have questions about their tax filing obligations, especially when circumstances prevent them from filing by the original deadline. A key document for many individuals is the Form W-2, Wage and Tax Statement, which reports income and taxes withheld by an employer.

Understanding Tax Filing Deadlines

The standard annual deadline for filing individual federal income tax returns is April 15. If this date falls on a weekend or a holiday, the deadline shifts to the next business day.

If a taxpayer cannot meet this original deadline, an automatic six-month extension to file can be requested by submitting Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. This form extends the time to submit the tax return, but it does not extend the time to pay any taxes owed. Interest and penalties may apply to any unpaid tax balance after the original April deadline, even if an extension to file was granted.

The question of filing “next year” often arises when a taxpayer has missed the original April deadline for a prior tax year. This means the return is already considered late. The tax system operates on a calendar year basis for most individuals, where a return for a specific tax year is due in the calendar year immediately following it.

What to Do If You Don’t Have Your W-2

The Form W-2 is a document for accurate tax reporting, as it details your wages, salary, and other compensation, along with federal, state, and local taxes withheld by your employer. If you have not received your W-2 by the end of February, or if the one you received contains errors, there are specific steps to take. Your first action should be to contact your employer to request the missing or corrected form.

If you are unsuccessful in obtaining the W-2 from your employer, you can contact the Internal Revenue Service (IRS) for assistance. The IRS may then contact your employer directly and send you a Form 4852, Substitute for Form W-2, Wage and Tax Statement. This form allows you to report your income and withholding based on your own records, such as pay stubs or earnings statements.

To complete Form 4852, you will need to provide your personal information, the tax year, and your employer’s name, address, and Employer Identification Number (EIN). You must also estimate your gross wages and the amount of federal income tax withheld. Attaching Form 4852 to your tax return allows you to file even without the official W-2, helping you avoid potential late-filing penalties.

How to File a Late Tax Return

Once you have secured your W-2, or have prepared Form 4852 if the W-2 remains unavailable, filing a late tax return follows the same procedures as filing on time. You can use tax software, work with a tax professional, or complete paper forms.

It is important to file your tax return as soon as possible, even if you cannot afford to pay the taxes owed. Filing a return, even a late one, is important because the “failure to file” penalty is typically more substantial than the “failure to pay” penalty.

While e-filing is the most common method for current year returns, the ability to e-file prior year returns is limited. The IRS Modernized e-File (MeF) system supports e-filing for the current tax year and the two immediately preceding tax years. For tax years older than this window, you will need to print and mail your completed tax return to the appropriate IRS address for that specific tax year.

Penalties for Late Filing

Failing to file your tax return or pay your taxes by the due date can result in financial penalties from the IRS. Two primary penalties are the Failure to File Penalty and the Failure to Pay Penalty. The Failure to File Penalty, outlined in Internal Revenue Code Section 6651, is 5% of the unpaid taxes for each month or part of a month the return is late, capped at 25% of your unpaid tax. This penalty applies if the return is filed past its original or extended due date.

The Failure to Pay Penalty, under Internal Revenue Code Section 6651, is 0.5% of the unpaid taxes for each month or part of a month the taxes remain unpaid, also capped at 25% of the unpaid tax. If both penalties apply in the same month, the Failure to File Penalty is reduced by the Failure to Pay Penalty.

Interest is also charged on underpayments from the original due date of the tax until the date it is paid, as per Internal Revenue Code Section 6601. This interest rate is variable and adjusts quarterly. In certain situations, such as a fire, natural disaster, serious illness, or the inability to obtain necessary records, penalties may be abated if the taxpayer can show reasonable cause and not willful neglect for the delay.