Tax season is here, and you’re probably still waiting for W-2, 1099, and other tax reporting forms to arrive in the mail. You may have received some. It’s still early, though, and there’s no reason to panic. Most forms aren’t even due yet. For example, Form W-2 is due on January 31 every year.
So long as the form is addressed and mailed on the due date, it is considered on time. Companies must issue your W-2 by then, unless the date falls on a weekend or legal holiday. Taxpayers are often stressed if they don’t get the proper tax form by the deadline. If they don’t, here are a few steps to take.
- Check to see if the form is in the mail, on a counter, or sitting around somewhere. If there are any piles you haven’t sorted through, check for the W-2 before resigning to the fact it wasn’t sent.
- Look in your email inbox. It’s good idea to check the spam filter too. Electronic versions of tax forms must be created with your consent. Otherwise, a paper copy must be sent as well. You may have authorized electronic delivery and not recall, so always look at your inbox.
- Contact the issuer directly if you’re sure the forms didn’t arrive. If your address is incomplete or you moved, the form might not get to its destination. Forms can also get lost in the mail. Contact the employer and they’ll send another one.
- Attempt to get in touch even if the employer closes or moves. Send your correspondence to their last known address, and their local post office will likely forward the mail. Searching for the employer on the Internet is a quick way to find their address.
If you still can’t find your tax forms, or there are mistakes, contact the IRS. Note, however, there is a wait time. The IRS doesn’t respond to missing form communications until after February 14. You can then call them at 1-800-829-1040. They’ll need your address, telephone number, and Social Security Number. Also keep handy your employment dates and estimated earnings/federal withholding amounts – found on the last pay stub you received. It’ll save time if you gather all the details in advance of the call. After a long hold time, it is quite frustrating to find out you need to call again later with the right details.
Once you contact the IRS, resolving the issue can take time. The agency will send Form 4598, Form W-2, 1098, or 1099 Not Received, Incorrect, or Lost to the employer or other issuer of the form. A copy of it will be sent to you. You’ll also get Form 4852, Substitute for Form W-2 or Form 1099-R.
The employer should send the form quickly. If it doesn’t fall into your hands by April 18, you can file Form 4852, but be sure you have a good reason to. You may be severely penalized by the IRS if you use the form improperly. In any case, tax refunds will take longer to arrive. it takes longer for the IRS to verify information with Form 4852.
For the due dates of other tax forms, see the list below.
1042-S: Foreign Source Income Reporting. Due March 31
1094-C, 1095-C: Affordable Care Act. Due March 31
1098: Home mortgage interest. Due February 1
1098-E: Student loan interest. Due February 1
1098-T: Tuition, reimbursements, scholarships, grants. Due February 1
1099-B: Sales, barters, and redemptions of securities. Due February 15
1099-C: Cancellation/forgiveness of debt income (including mortgages). Due February 1
1099-DIV: Dividends, capital gains, and distributions. Due February 1
1099-G: Government payments (tax refunds, unemployment compensation). Due February 1
1099-INT: Interest income. Due February 1
1099-K: Credit card payments in course of trade or business. Due February 1
1099-MISC (Rents): Rents, royalties, prizes, awards, non-employee compensation. Due February 1
1099-MISC (Attorney’s fees): Attorney’s fees and substitute payments. Due February 15
1099-R: Retirement plan distributions, such as IRAs and profit sharing plans. Due February 1
1099-S (Real Estate): Real estate sales information. Due February 15
1099-SA (Distributions): HAS, Archer MSA, or Medicare Advantage MSA distributions. Due February 1
SSA-1099: Social Security payments. Due February 1
W-2: Wages, sick pay, and benefits. Due February 1
W-2G: Gambling winnings. Due February 1
Exceptions to reporting requirements include forms that are issued earlier. A 1099-INT form, for example, may be issued at the time you redeem savings bonds. Also, you would have received form 1098-C within 30 days of selling or donating a car.
- Traditional IRA, Roth IRA, SIMPLE, or SEP contribution details are scheduled to arrive by May 31. For Coverdell ESA contributions (form 1099-ESA), it is April 30.
- It’s rare to report taxes early if you are a shareholder/partner/member of an LLC, LLP, or S corporation. Tax returns must be prepared before Schedules K-1 are furnished. These can take until March or April to arrive.
Make Sure All Tax Reporting Forms Are On Hand
If you haven’t received all tax reporting forms, do not file yet, even if you’re pretty sure of what’s on them. It will be more difficult for preparers to figure things out. Also, the IRS requires electronic returns to be submitted only after forms W-2, W-2G, and 1099-R are received.
The IRS may also audit you if taxes are filed before the proper forms are available. It must match the information on your tax return with forms such as W-2 and 1099. Otherwise, the return will be flagged. The IRS will take another look if there’s anything that looks different than it should.
We recommend that you file your income taxes with TurboTax online because they will import your W-2 information into the correct form to insure that tax filing is as easy as possible. By going with Turbo Tax you decrease, the chances of your tax return containing errors and they guarantee that you will get the largest refund ever or pay the minimum amount of taxes possible.