One of the challenges most companies face is determining the tax they need to pay when the tax season is approaching. It is worth noting that employees who had switch jobs, tend to face more challenges when determining the tax. The reasons that make tax calculation difficult is the fact that an employee needs to get W-2 forms from their previous employers. In this article, we will take you through the steps to follow to get the form.
First and foremost, you need to know why you need your W-2 document. A W-2 form is critical since it is a wage and tax document that consists of the compensation you got from the business that hired your over a year. Every beginning of a year, an employee will get the form. The form is not issued to every employee, for one to get the form, they need to have received at least six hundred dollars over the year.
When one is issued with a W-2 form; it will be easy for them to know if they still owe the tax authority any tax. The form does not only show the tax an employee owes, but it also shows if one is liable for a tax refund. With the form, it will be easy for employees to determine their earnings. The other benefit of a W-2 form is that it shows how much you contributed to your retirement plan, what you paid for health insurance, and if you made any other deductions.
In this section, we will take you through the tips to getting W-2 forms from previous employers. Employees can get their W-2 forms through reaching out to their former employers. It is worth noting that it the human resource of the former company you have been working for that can give you a copy of the form. For the human resource representative in the former company you once work for to give you your W-2 form, you will have to issue your correct address. Check Get w2 from previous employer to learn more.
The payroll can also be a good source of getting a W-2 form. If you want to check the payroll, and you will have to contact your payroll administrator. The communication can be through email or phone. It is mandatory for employees to issue details of their employment to their payroll administrators. Check Get w2 from previous employer for more info.
In the event the methods mentioned above does not work well for you, you do not have to worry since there is another way in which you can get your W-2 form. The other alternative to getting the W-2 form is by reaching out the IRS authority directly. When you contact the IRS authority, you will be required to provide relevant information about your employer. Employees will also have to provide details of their salary and wages. These guides are vital for employees looking in need of their W-2 forms from their employers. Visit https://www.wikihow.com/Get-a-Copy-of-Your-W%E2%80%902-from-the-IRS for other references.