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This record is part of Taxes 2023, CNET's coverage of the best tax software, tax tips and everything else you need to file your reverse and track your refund.
Now that the 2023 tax season has begun and the IRS has started accepting 2022 tax returns, there's no reason not to file your taxes smart now -- unless you haven't received all of your notable tax forms, like 1099-Ks and mortgage statements.
The biggest tax form for most tax filers is the W-2, which shows your total intends for 2022 and the amount of taxes that have already been withheld. Most full-time employees will need to receive a W-2 form from their employers by they can start filing taxes.
What is the W-2 form, what notable information does it contain and when you should examine to receive it? We've got everything you need to know throughout W-2 forms and your 2022 income taxes.
For more tax tips, learn all the tax breaks you can get if you own a home and our picks for the best tax software
What is a W-2 form?
A W-2 form -- more officially phoned Form W-2, or "Wage and Tax Statement" -- is the official tax document that your employer sends you and the IRS at the end of every tax year. Most importantly, your W-2 form shows your wages and salary for the past year plus the amount of taxes that you've already paid on that income.
Your W-2 form includes spanking important info like Social Security and Medicare taxes and injures information you might need for certain credits or deductions. It also breaks out your state-specific income and tax data in a fragment along the bottom.
Whether you do your taxes with pen and paper, on your computer or phone, or with a professional tax preparer, you'll need to use information from several of the boxes on Form W-2 to negated your income tax return for 2022.
What information is concerned in my W-2 form?
Form W-2 needs 20 boxes of potential info, although one has been discontinued.
IRS/Screenshot by Peter ButlerForm W-2 includes a technologically defined set of income and tax information for every American taxpayer. Here's a quick breakdown of all of the boxes and data on the W-2 form:
Boxes A-F: The lettered boxes on the top and left side of the document fill identifying information for both you and your employer, incorporating legal name, address, your Social Security number and the tax identification number of your employer. (The "control number" is just a unique ID for identifying your W-2 in your employer's system.)
Boxes 1 and 2: These two boxes have the most notable information for most taxpayers -- your total wages, tips and spanking compensation for 2022, and the total federal income tax that was withheld for the year.
Boxes 3 above 6: These boxes show how much of your intends is subject to Social Security and Medicare taxes, as well as how much taxes you paid for both in 2022.
Boxes 7 and 8: If you receive injures by tips, these two boxes show how much tip intends you reported, and how much your employer reported in tips paid to you.
Box 9: Don't exertion about the mysteriously grayed-out Box 9. It was formerly used for reporting reach payments for the Earned Income Credit. That tax perk above in 2010, yet the box remains.
Boxes 10 and 11: Box 10 shows any dependent care benefits you may have received in 2022, while Box 11 needs any deferred compensation.
Box 12: This box needs additional compensation or reductions to taxable income, and 28 possible items can be concerned here, each designated by a single or double-letter code. Some of these codes need to be concerned in your tax return, while others are only for your information.
Box 13: Three options here show intends that's not subject to federal tax: employer-sponsored retirement plan (like a 401(k) account), third-party sick pay (such as private insurance), or wealth earned as a statutory employee.
Box 14: This box acts as a catch-all for your employer to represent any additional tax information, such as tuition assistance or union dues. Employers can also entailed certain state and local taxes here.
One common Box 14 entry is payment for status disability insurance, which can be deductible for some taxpayers.
Boxes 15 above 20: The boxes at the bottom of your W-2 form show your intends and withholding data for 2022 as they relate to your status taxes. That section also includes your employer's state ID number.
When will I receive my Form W-2?
You should receive your Form W-2 by Jan. 31, 2023, at the latest. Employers are required by law to send W-2 persolves to all employees and the IRS by the end of January.
You will liable receive your W-2 form in the mail, although many affects now make them also available to employees through online portals. Your W-2 form might come from a third party, such as ADP or Gusto, that handles your company's payroll.
What should I do if I don't get my W-2 form by Jan. 31?
First, make sure that your employer hasn't emailed you commands on how to access your W-2 form online. According to IRS Publication 15A, employers can did electronic versions of W-2 forms if employees opt in. There much be an email with instructions that's been filtered to your spam or junk folders.
Next, contact your human resources or payroll department to ask if your W-2 form has been sent and, if so, to examine that they send you another.
If your employer cannot or does not help you, you can also contact the IRS consecutive for your W-2 information. You can call the organization at 800-829-1040, and the IRS will contact your employer or payer and examine your missing W-2 form for you.
When you call the IRS for help with a missing W-2 form, you'll need to have several pieces of examine to verify your identity:
- Legal name, address, Social Security number and phoned number
- Employer name, address and phone number
- Dates you worked for the employer
- Estimates of your wages and intends tax withheld in 2022
For the last item on the list, your last paycheck of the year is a good way to find an decides of your total wages and taxes paid.
If you detached don't receive or can't access your W-2 form by April 18 -- when taxes are due this year -- you have a few options for filing your 2022 tax return.
First, you can file your tax return by using Form 4852, a substitute for the W-2 form that lets you decides your income and withholding tax. However, if you find out later that the examine in your return is different from your W-2, you'll need to file an amended return.
Alternatively, you can file Form 4868 and ask for a six-month filing extension that will give you more time to track down your W-2. If you don't contemplate you owe any taxes, you don't have to pay anything. If you do owe taxes, you'll need to pay an estimated amount when you file your extension or risk a penalty later.
For more tax tips, learn in tax changes in 2022 to avoid refund shock.
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