It is normal for people to find great ways to increase income. For many employees, switching a job is must especially if the pay is much higher than the previous employer. Sometimes, it the chance for professional growth becomes an added reason as well. Nonetheless, if you have recently switched job or planning to get a new one, then maybe it is important that you obtain w2 from previous employer.
What is Wage and Salary Statement Form or W2.
The wage and salary information of employees are depicted on Form W2. It may also state the information about other deduction which may include retirement plan and insurances. Moreover, it also outlines if you can still get a tax refund or be obliged to pay the necessary tax. Fundamentally speaking, the employer will send this W2 form to his or her employees on or before January 31 yearly. Once these are not processed or filed on time, penalties and legal consequences may be acquired.
Why w2 from old job is needed when you look for a new job?
The truth is, there is no law requiring employees to secure w2 from their former employers. However, hiring the perfect candidate is going to be a daunting task for most employers and one for them to do a background check is through requesting the W2 form. In addition to that, many employers require W2 perhaps for profiling purposes.
Getting W2 from your former employer
Ask it from your previous employer
Many employers have Human Resource personnel in the company. If that is the case, then you can request W2 here and should not have any problems. After all, it would be the company or employer's obligation. But, if it is very complicated to it in this department, then maybe the next rational thing to execute is to directly approach your employer.
2. Ask help directly from the IRS
When you tried to approach the HR department and/or your employer and still you were not able to get the form after Valentine's Day, then do not worry and get help directly from the IRS. Just make sure that you can provide all the important details which may include your SS number, complete name and address, employer and employment details, and estimated wages. Check How To Get W-2 From Previous Employer to learn more.
Obtain the alternative form and file your tax on your own
Even when you did not receive your W2 form, it is your duty to file your tax return not later than April 15th. Form 4852 is the alternative allowed by IRS for individuals or employees who did not receive the W2 form from their employers and for employers who made inaccurate info on the form. Check How To Get W-2 From Previous Employerr for more info.
The W2 form is just not needed in your current job but may also be important if you are switching an employer. Yet when your employer or previous employer fails to send you the form, do not hesitate to contact directly the IRS and file your tax return through a substitute form so it can serve whatever purpose you have for it. Visit https://www.wikihow.com/Get-a-Corrected-W%E2%80%902 for other references.