Some family caregivers find themselves without a W2 as tax season rolls around. With or without a W2, you will still be responsible for state and federal taxes. Otherwise, you may face penalties for tax evasion. Ahead, we show you how to file for taxes even if you still need a W2.
Yes. You can file your taxes whether or not you have your W2. Use Form 4852 from the IRS website to file federal income taxes if you do not have your W2.
Form 4852 substitutes for Form W2, Form W2c, and Form 1099R. This transcript shows that the taxpayer's employer or payer does not provide a W2 or 1099R, or the W2 or 1099R is issued incorrectly.
If you received a Form W-2 or 1099-R that needs to be corrected before using Form 4852, contact your employer or payer and ask them to correct your form. They can send you a corrected W2 or 1099R with a checkbox indicating the correct version.
If you need help filing for taxes, work with a certified accountant to help you complete your taxes correctly.
If your W-2 is missing, the easiest way to get your income information is to request an IRS and state wage and income transcript, which shows data from information returns the IRS receives, such as Forms W-2, 1098, 1099, and 5498.
If your total taxes owed are less than your overall tax credits, you are eligible for a refund. However, when you file with IRS form 4852, the IRS must verify your information. Expect a delay in any tax refund. Receive your tax refund either by mail or through direct deposit. You may receive your tax refund earlier if you opt for direct deposit. Keep your address and bank account information current with the IRS to avoid any delays.
To help you get your return as soon as possible and avoid IRS delays, family caregivers can file their federal and state tax returns using Givers Taxes starting January 17. Your tax return will be submitted as soon as the IRS begins accepting returns.
Is your W2 late? Will the IRS catch a missing W2? And yes, they will. For this reason, employers, by law, should send employees, like caregivers, their W2s by January 31 each year. Employers also have to send the information to the federal government. Your employer might opt for either a paper or electronic W2. Keep your e-mail information and address current with your employer and any past employers.
If the employer pays the caregiver more than $2,600 in a calendar year, they must file with the IRS. The W2 might be lost in the mail or buried in an e-mail. Check with the employer first if they still need to send their required W2. If following this avenue does not work, follow up directly with the IRS. Call the IRS at 1-800-829-1040. The IRS will follow up on the derelict employer. Most employers will comply to avoid penalties or an audit.
Keep your tax-related documents organized to make filing easier. You should have both electronic and paper copies of your documentation. While the IRS doesn't audit individuals for minor discrepancies, so you will avoid a headache in the event of an audit. When you file online, you need specific information to apply.
If you need help obtaining some of these documents, contact your employer or previous employer directly or speak with human resources. Keep your tax information carefully documented and organized in the rare case of an audit or if the IRS needs to verify the information.
