When Do Tax Statements Come Out & What to Do If They Don’t
Ensure a smooth tax filing process. Discover when to expect your tax statements, how to access them, and what to do if they're delayed.
Tax statements are documents for individuals preparing to file their annual income tax returns. These forms consolidate financial information, detailing income earned, taxes withheld, and various deductions or credits. Receiving these statements accurately and on time is a step in ensuring a smooth and correct tax filing process.
Common Tax Statements and Their Deadlines
Employers are required to issue Form W-2, the Wage and Tax Statement, to employees by January 31st. This form reports an individual’s annual wages, tips, and other compensation, along with federal income tax, social security tax, and Medicare tax withheld. Similarly, many payers of nonemployee compensation, such as businesses paying independent contractors, must furnish Form 1099-NEC, Nonemployee Compensation, by the same January 31st deadline.
Other common income-related forms, including Form 1099-MISC for miscellaneous income, Form 1099-INT for interest income, and Form 1099-DIV for dividends and distributions, are also due to recipients by January 31st. Financial institutions, investment firms, and other entities issue these 1099 forms to report various types of income not covered by a W-2. These forms help taxpayers report all taxable income.
Statements for deductions or credits also have standard issuance dates. For instance, lenders must provide Form 1098, Mortgage Interest Statement by January 31st to report mortgage interest paid. Health insurance providers or the Health Insurance Marketplace issue Form 1095-A, Health Insurance Marketplace Statement, by January 31st, detailing health coverage information for claiming premium tax credits.
Partnerships and S corporations issue Schedule K-1 (Form 1065 or Form 1120-S) to their partners or shareholders, respectively. These forms report an individual’s share of the entity’s income, deductions, credits, and other items. While the partnership or S corporation tax return is due by March 15th, the K-1 statements themselves reach individuals later, sometimes extending into late March or even April due to the complexity of partnership and S corporation tax filings.
Accessing Statements Online
Many employers and financial institutions now offer the convenience of accessing tax statements electronically. This digital option allows taxpayers to retrieve W-2s, 1099s, and other forms earlier than mailed paper copies. To utilize this service, individuals need to create an online account with the issuing entity, such as their employer’s payroll portal or bank’s online banking platform.
Once logged in, taxpayers can navigate to a dedicated “Tax Documents” or “Statements” section to view, download, or print their forms. This method provides immediate access, beneficial for those who prefer to file taxes early. Online access also contributes to environmental sustainability by reducing paper waste and offers a secure way to retrieve financial information.
Steps If You Don’t Receive a Statement
If a tax statement is not received by its deadline, wait a few additional days for potential mail delays. After this grace period, contact the statement issuer, such as your employer, bank, or brokerage firm. Confirm their mailing address and request a copy.
If contacting the issuer does not resolve the issue, or they cannot provide the statement, contact the Internal Revenue Service (IRS) for assistance. The IRS can contact the employer or payer to request the missing form. When contacting the IRS, have specific information available, including your name, address, phone number, Social Security number, dates of employment, and the employer’s or payer’s name, address, and Employer Identification Number (EIN), if known. You can contact the IRS by calling their toll-free assistance line at 1-800-829-1040.
The IRS advises waiting until at least mid-February before contacting them about missing W-2s or 1099s. If the statement remains unreceived and the tax filing deadline approaches, estimate your income and withholding to file on time, potentially using Form 4852, Substitute for Form W-2, Wage and Tax Statement. If you later receive the actual statement and the information differs, file an amended tax return using Form 1040-X to correct the information.