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Every year, the employees need to send the proper information regarding their W2 form. This helps the employees to fill in their tax returns on time. The form must be filled out with the Social Security Administration to determine efficiency.
However, manually filling out the form can leave room for error. Therefore, employees must fill out the form with the Social Security Administration.
Checklist to Prepare For the W-2 Form Deadline
Choose a paystub maker.
When you are preparing the W-2 form, it is often advisable to choose a paystub maker. This is one of the most prominent conditions to follow that will ease the entire process of filling out the form.
Numerous free paystub makers are available online that allow you to fill out your forms. When filling out the W-2 form, it is crucial to enter the data accurately.
Gather all your documents.
When preparing the W-2 form, you need to collect the documents. Since you need to upload these on a free pay stub generator, you need to ensure that you have all the documents.
If you are an employee, you must submit the W-2 form. If you need to submit any other documents, you should contact the concerned person.
Line up the receipts.
Since you will be sharing the documents with the respective authorities, you need to ensure that you are lining up the receipts as well.
You need to maintain standard deduction receipts, which will help you determine accurate results. If you have medical receipts, you may also need to apply for them.
If you have any flexible earnings or extra earnings, you need to prepare a schedule for that as well. You need to provide receipts for property taxes, investment-related receipts, and more.
List down your personal information.
If you have a Social Security Number and other such information, you need to enter that as well. You also need to include other personal information such as phone number, name, and address. The concerned team will verify the details. If you fail to provide the information, it will be rejected.
Suppose you have any extra rental property; provide information about it. If you don’t give this information, the authorities may not approve your tax returns.
Refer to a copy of last year’s list.
If you had filed for a W-2 form previously, you need to refer to that copy. This copy usually contains information that is essential for you.
Furthermore, you may need this document as a reference for the preparation. You need to check for charitable deductions, interest, investments, and deductions.
You need to provide information for a proof check, a receipt, and a cancelled check regarding charitable deductions.
The free stub template with a calculator can be highly beneficial. Individuals who have no idea how to create a pay stub should refer to the software that will help them generate the report. It is advisable to choose one with a calculator, as it will keep a record of everything.
Related Article: Tips for 2022 Tax Season
FAQ's
When is the deadline to distribute W-2 forms to employees?
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The deadline for employers to distribute W-2 forms to employees is January 31st, following the tax year. For example, the deadline for distributing W-2 forms for the 2022 tax year is January 31, 2023.
What should I do if I don't receive my W-2 form by the deadline?
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You should contact your employer and request a copy if you don't receive your W-2 form by the deadline. If you still haven't received your W-2 form by February 15th, you can contact the IRS for assistance obtaining a copy.
What information is included on a W-2 form?
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A W-2 form includes information about an employee's wages, tips, other compensation, and taxes withheld, such as federal income tax, Social Security tax, and Medicare tax. It also includes the employee's name, address, and Social Security number, as well as the employer's name, address, and identification number.
