Tuesday, February 05, 2008

W-2 Problems

We've been receiving questions this week on the provision of W-2 forms by employers.

According to the IRS, employers must send W-2 forms to their employees by January 31.

If you do not receive the form by February 15, or if the form you received is incorrect and the employer will not correct it, the IRS advises: "contact the IRS at (800) 829-1040. An IRS representative can initiate a Form W-2 (PDF) complaint. Form 4598, Form W-2 or 1099 Not Received or Incorrect, will be sent to the employer and a copy will be sent to you along with Form 4852 (PDF), Substitute for Form W-2, Wage and Tax Statement, or Form 1099-R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. The copy that the employer receives will advise him or her of the employer's responsibilities to provide a correct Form W-2 (PDF) and of the penalties for failure to do so. "