Is this legal? How to do it?
2006-12-28 03:42:56 · 15 answers · asked by lululala 2 in Business & Finance ➔ Taxes ➔ United States
Yes it is.
You do it the same way you would if you had your W-2, except that they have a form they want filled out. But I have a couple co-workers who have done it for years by just copying their final pay stubs and the first week of the new year's pay stubs to show continuity of dates giving force to the idea the one is truly the last of the year. They have never had their refunds held up while the IRS waited for the boss to file the W-2's, or at least they never told me if they did. Better probably to fill out the form. Also, you will have to know things like the employer's taxpayer identification number, but you can ask, or look on last year's W-2. My state requires a second employer ID number if tele-filing, but not on the written tax forms.
I will find out the form name and add it to my answer.
Added:
It is Form 4852. A link to the IRS site where the fill-in PDF version of the form is: http://www.irs.gov/pub/irs-pdf/f4852.pdf
2006-12-28 03:50:29 · answer #1 · answered by roynburton 5 · 0⤊ 0⤋
If you file with your paycheck stub, you must prove that you have contacted the company you worked for and got no response from them and did not receive a W-2. You have to wait after a certain date to do this though. What H&R Block is offering is called a IMAL, instant money anticipation loan. They estimate what your taxes will be according to your last pay stub and they offer you a loan. The interest rates are NOT high at all, pretty reasonable actually. You only get charged once for this loan and it's taken out of what they offer you. You MUST repay this by Feb. 19th. You can do it one of two ways, either you pay it back out of your refund check when H&R Block prepares your taxes OR you can pay it back on your own. In no way does getting a IMAL from H&R Block bind you into having your taxes done there. It's just convenient to have them do your taxes and repay your loan all in one shot. The IMAL is different than other "refund loans" the other tax prep places do because you only get charged for it once, not three or four times.
2006-12-28 14:40:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It's risky proposition...but yes you can do that as long as you know the information on you pay-stub is exactly the same as on you W-2 and you are e-filing or phone filing. But why the Rush? The IRS is not going to give you a refund until it has the W-2 information on their computers. Wait...by law your employer has to provide you with your W-2 by the end of January... Dont foul-up the system because then it will take a very long time before you will get your refund. Be patient.
2006-12-28 11:58:49 · answer #3 · answered by kalamity 3 · 0⤊ 0⤋
H & R Block is offering a loan with your most recent pay check stub. You will still be required to file your taxes with your W2s once you receive them. However this offers you an opportunity to get some of your refund now and not have to wait. Please contact you local H & R Block office you can locate an office at www.hrblock.com.
2006-12-28 14:32:55 · answer #4 · answered by misskenzie12 2 · 0⤊ 0⤋
Sure if you only worked at one place and you have all of the information on that stub that is required for your tax return. I would however wait another month for the w-2 because it might have a number or two that you don't know about. Anyway if you are in such a hurry to be the first return for them to look at , don't you want it to be accurate. Good Luck
2006-12-28 11:47:17 · answer #5 · answered by freesample1 3 · 1⤊ 0⤋
It is legal although not preffered. I simple write a letter to the irs when I file and explain that I never received my W-2' s from my employer. Then I photo copy my last pay stub for my records. I send the original to the irs with the letter.
I have only had to do it a couple of times and never had a problem yet.
2006-12-28 11:46:29 · answer #6 · answered by logan 5 · 0⤊ 1⤋
The tax preparer (H&R or another) uses your last check to approximate your taxes and loan you the expected return amount. You have to have the last paycheck for every job you worked this year. (best if it is just one job for the whole year) You have to pay it back by bringing in your W2 forms later for them to do an actual filing. If they loaned you too much, you will owe them money, if they loaned you too little, they owe you money. It is really a loan, not an actual filing.
2006-12-28 11:46:10 · answer #7 · answered by Blunt Honesty 7 · 0⤊ 0⤋
yes it is legal, you just have had to be working at the place the entire year, you pay stub has all you annual tax info on it, if you have not worked there for a year then info will not be complete if you have other jobs
2006-12-28 11:45:12 · answer #8 · answered by kellbelle21 3 · 1⤊ 0⤋
I'm almost positive you have to submit a W2, and a check stub isn't acceptable. But you can do your calculations based on your finaly check stub.
2006-12-28 11:45:04 · answer #9 · answered by Rossonero NorCal SFECU 7 · 1⤊ 0⤋
H&R Block will give you a "Refund Anticipation Loan" for what they estimate your taxes will be from your last pay check. High interest and fees....JUST WAIT until you get your W2. Why pay extra to get your own refund money?
2006-12-28 11:45:30 · answer #10 · answered by Emily B 4 · 1⤊ 0⤋