- Stubbuilder
- Aug 9, 2024
As the tax deadline draws near, it becomes a matter of urgency for you as a taxpayer to find all the information needed on a document to file for your returns. Generally, if you are an employee and not a contractor, you will need a W2 form. Sometimes, you might have to switch from one job to another within the tax year.
So, what happens if I lose my W2 form and the deadline for filing taxes is approaching rapidly? The first question you will ask is, I have lost my W2 form; what do I do? Whether you have misplaced your W2 form or you haven’t received it till now, you don’t need to panic. There are various ways you can retrieve your W2 form.
In this blog, we will explain what a W2 form is, its importance, and how to retrieve a lost W2 form without any hassle. So, let’s get started.
What is a W2 Form?
A W2 form is a Wage and Tax Statement. It shows an employee’s earnings for the year and how much tax the employer has withheld from him. The employer sends a W2 to the employee in January, and a copy goes to the IRS.
You will receive a W2 form from your employer, who has paid you at least $600 during the year. Independent contractors who do not have taxes withheld by an employer receive their 1099 form from their client.
I Lost My W2 Form, What Next?
A W2 form is a government document. It is the employer’s responsibility to finish and deliver the form to their employees. On the other hand, it is the employees’ authority to report their earnings and wage tax withholdings in the state and federal income tax returns.
As a legal requirement, your employer must send you the form by 31 January to give you ample time to meet the tax filing requirements in April. Your employer should also send a copy of the same form to the Internal Revenue Service (IRS).
Now that you have received tax deductions from your real pay stubs, you should file taxes each year. A W2 form is an important document that confirms your earnings for a particular year. Your employer will send this to you at the beginning of each year.
Check Online from Website
Finding the form online should be the first step. Most employers issue their employees with a W2 form electronically. However, this does not always mean that they will email you a copy for your records and use. Due to cyber security concerns, they will send you a link to an online service from where you can check and download the form.
Unfortunately, you might not see the email because it ended up in your spam folder. Basically, you have to view your inbox first, which includes your spam folder, and see if you can trace the link. If you can’t find it and your employer has an online website for a paycheck, grab the login credentials and see if you might be able to access your W2 form from there.
In addition to this, the employer will send you a copy of the W2 via email, and they will also send you a duplicate of the IRS. You can also use software such as Check Stub Maker to generate W2 forms from valid software such as Stubbuilder, which will import the W2 electronically. You will receive a notification once your W2 form is ready so you can start filing your taxes.
Get in Touch With Your Employer
I lost my W2 form. What will happen now? When you lose your W2 form, you come into panic mode, right? If the online check method fails to meet your expectations, now is the time to connect with your employer, who issued you the form.
In many cases, the form is sent to you but can get lost due to a change in address. If they have mailed it to you at an incorrect address, you might be able to get your form back, and you might be able to track it.
In addition to this, most employers keep a duplicate copy of their form so that you can make a copy for your use. Now, while you’re at it, it is recommended to update your address if you have changed your residence address to avoid any instances of not having to worry about losing your W2 form again.
Contact the IRS Directly
Your employer cannot help employees replace lost W2 forms because they are out of business, and you are unable to get a copy from the online portal.
You still have this question in your mind: ” What do I do if I have lost my W-2 form?”
Another option is to get directly in touch with the IRS and request that they issue a copy of your W2 form.
Although the IRS recommends using the past two options until the end of February before raising the issue with them, if you notice that your W2 is missing, contact the IRS immediately. This can lead to a successful location of the form, often traced back to the employer. If it is traced to your employer, you can collect it from them. In the meantime, using a real pay stub can help verify your income information.
When using this method, the IRS assumes that you filed your return for the previous year. You will need to contact the (TAC) Tax Assistance Centre, a department of the IRS.
For this, you should provide the following information:
- Your name, social security number, contact information, address, city, state, and zip code.
- Your employer’s information, such as Name, contact information, and tax ID if you have it.
- Period of employment.
- Approximate wages earned during the tax period, withholding tax, and the time worked during the year.
If the IRS cannot trace your W2 form sent to the employer, they will not issue you a duplicate copy. Instead, they will provide you with a transcript of your earnings and wages.
Conclusion
Even though it is challenging to lose a W-2, you have various ways out: contact your employer, contact the IRS, or utilize Form 4852 to file your taxes. Additionally, you can use a paystub generator free of charge to help verify your income if needed. It is advisable that such actions be taken quickly so as not to delay you in meeting your tax obligations.
