How to File Taxes without an IRS W-2 Form

You’re all prepared to start your tax return and then realize you’re missing a W-2. Now what?

There is little that is more vexing as you prepare to file your taxes than to realize that your W-2 or 1099 form has gone missing. Sure, it could have just been shuffled about with other papers. If you think this is the case, then stop reading now and go tackle that stack of paperwork on your desk.

On the other hand, if you never received it in the first place, even Spring cleaning can’t help you. Previous and even current employers often fail to observe due diligence when it comes to providing an employee with necessary tax documents. The task of obtaining them can be quite frustrating as a result.

The situation is usually made worse if you are filing a prior year tax return, at which point a company you worked for years ago may simply have ceased to exist.

Let’s take a look at the steps you can take to obtain your income statement. We’ll even let you know how to file without one altogether. Continue reading “How to File Taxes without an IRS W-2 Form”

7 Filing Tips to Get Your Tax Refund ASAP

Waiting for your tax refund can really test your patience.

Unfortunately, we can’t speed up the actual processing time of your tax return once the IRS gets hold of it. However, there are actions we can take to ensure a smoother journey through the IRS database. Let’s take a look at seven steps you can take when filing your tax return this year.

E-File your tax return.

Oh, how far technology has come. You can e-file your tax return worry-free until the April deadline. After that date, you can still e-file until the October deadline. However, if you can’t get it filed before mid-April and you’re not sure if you’re getting a refund, you’ll want to file an extension. Either way, the IRS processing time is quickest with e-filing. Compared to mailing in your return, you could be speeding up your refund by almost a month!

Choose direct deposit to receive your refund.

Many businesses offer a direct deposit option to their employees, so it only makes sense that the IRS would offer the same. After all, it’s your money. This is preferred by many taxpayers, based on convenience. On top of that, waiting on direct deposit will eat up less of your time than waiting on a check in the mail.

Make sure you’re the only one claiming your dependent(s).

This can be easier said than done in some cases. However, if you know someone who could also claim your dependent on their tax return, do your best to verify that they won’t be. Why? A person can only be claimed once per year. If a dependent is claimed by more than one person, then the second tax return to claim them will be rejected by the IRS. If the second person to claim the same dependent appeals to the IRS, the IRS may pull the first return for review, to make sure that taxpayer was allowed to claim the dependent. In either case, this will ultimately delay your tax refund. Continue reading “7 Filing Tips to Get Your Tax Refund ASAP”

W-2 or W-4 Form: How Do They Affect My Taxes?

Are you confused on what a W-4 form is? How about a W-2?

You’re not alone.

The truth is, most of us don’t look at these complicated IRS forms on a daily basis, so when we do, we’re pretty lost!  However, it’s important to know the difference between a W-4  and W-2 as both impact  how much tax is taken from your paycheck and how big your refund may be when you file your taxes.

When do I need to look at these IRS forms?

W-4: You’ll receive a blank W-4 when you start a new job. As a new employee, you’ll be required to fill out this form.

W-2: Each year, at the end of January, you’ll receive a W-2 from each of your employers. You’ll refer to this form when preparing your tax return. Continue reading “W-2 or W-4 Form: How Do They Affect My Taxes?”