When Do W2s Go Out and What to Do If It’s Missing
Understand your W2 tax form for accurate filing. Learn when to expect it and what steps to take for a complete tax return.
A Form W-2, or Wage and Tax Statement, is a document employers issue annually to report an employee’s wages and taxes withheld. This form provides both the employee and the Internal Revenue Service (IRS) with a summary of earnings and deductions for a calendar year. The information on a W-2 is essential for individuals to accurately prepare and file their federal and state income tax returns.
The W-2 Issuance Deadline
Employers must send Form W-2 to their employees by January 31st each year. This deadline applies to wages paid during the prior calendar year, ensuring employees have sufficient time to prepare their tax returns. If January 31st falls on a weekend or a legal holiday, the deadline extends to the next business day. For instance, if January 31st is a Saturday, the employer has until the following Monday to issue the W-2.
What to Do If Your W-2 Is Delayed or Missing
If you do not receive your W-2 by the January 31st deadline, contact your employer directly. Verify your mailing address and inquire about the status of your W-2, as it might be delayed or due to an administrative oversight. Wait a reasonable period, typically one to two weeks, before taking further action, as mail delivery can vary.
If your W-2 remains missing by the end of February, contact the Internal Revenue Service (IRS) for assistance at 800-829-1040. Be prepared to provide specific details such as your name, address, Social Security number, phone number, and dates of employment. You will also need your employer’s name, address, and phone number. The IRS will then contact your employer to request the missing form.
If you still do not receive your W-2 in time to file your income tax return, you may use Form 4852, Substitute for Form W-2, Wage and Tax Statement. This form allows you to estimate your wages and tax withholdings based on information from your pay stubs or other records. Attach Form 4852 to your tax return when you file, enabling you to meet the tax deadline without the official W-2.
Understanding Your W-2 Form
The W-2 form contains several important boxes detailing your annual compensation and taxes withheld. Box 1, “Wages, tips, other compensation,” reports your total taxable earnings for federal income tax purposes, including salary, wages, tips, and bonuses. Box 2, “Federal income tax withheld,” shows the total federal income tax your employer withheld from your paychecks.
Boxes 3 and 5 report wages subject to Social Security and Medicare taxes, respectively, while Boxes 4 and 6 show the corresponding withheld amounts. These amounts might differ from Box 1 due to varying tax rules for different types of income or deductions, such as pre-tax contributions to retirement plans. The W-2 also includes boxes for state and local wages and taxes.