The Essentials of Paperwork – 101

W2 Form: Your New Employer Might Require It!

It is normal for people to find great ways to increase income. Hence, we can not argue much if a person wants to switch for a high paying job. In addition, the opportunity to grow one’s career might be a good reason for switching job too. 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.

Defining W2 form

The information of wage and salary of a worker is stated in the W2 form. Additionally, the employers payment on insurances and retire plan will be depicted here. Further, it displays the obligation of the employee to the taxes or eligibility for a tax refund. Legally, the employer will mail or give this form to the employer not later than January 31st every year and filed for tax return on time. When these are not sent or filed, legal penalties may be obtained.

Why W2 of your former employer important in a job search or your new job?

There is actually no absolute rule for employers to require their employees to get w2 from their previous employers. Nonetheless, acquiring the right employee for the job would be very tricky and having the W2 form would be a method for most employers to hire the best. In addition to that, many employers require W2 perhaps for profiling purposes.

Obtaining W2 from previous boss

1. Contact your former employer

Most established companies will have the HR representative. Then, if you are from this kind of company, then you can ask the W2 from the in charge. Anyway, they should be aware that receiving the W2 is a right of every employee in a company. However, there is no way to get the form here, it might be beneficial to directly ask for it from your employer.

Contact IRS

If after all your efforts, you still did not receive your W2 form after February 14, then it is good to directly turn to the IRS. However, you need to provide every related details about your employment and your employer.

3. File your taxes independently

Even when you did not receive your W2 form, it is your duty to file your tax return not later than April 15th. Use the form 4852 to do this for this the form that is permitted by the IRS as a substitute for W2 form.

The Takeaway

The W-2 form is a requirement for every employee and/or 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.

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