My employer needs to change my wages on my W-2. The error was only discovered in Late February. Can the employer still send the amendment in time so that I can still file my return by April 15th. What is the last date that the IRS will accept the changes to employee W2 data from employers?
2007-03-05 03:27:04 · 7 answers · asked by twindynasty 2 in Business & Finance ➔ Taxes ➔ United States
The short answer:
He should be able to get the corrected W2 out. If you know what the corrected numbers are you should use them.
The IRS has a seven year look back period. In theory, you can get an adjusted W2 going back 7 years.
An employer is obligated to report W2 data to the Social Security Administration (SSA), which feeds to the IRS, by January 31st. Under certain circumstances they can file for an extension.
If they discover a problem, they are obligated to file the correction and, when necessary, send out corrected W2's (W2c). In theory, a correction can go back seven (7) years, back to 1/1/2000.
As a taxpayer, you are required to file your taxes by April 15th. You can get an extension but let's assume that you don't.
Again, in theory, if you have already filed your return and you happen to get a corrected W2. You should file a corrected tax return. There is a special form for this that you can get from your local IRS or you can download the form from their web site.
If you don't file a corrected return, the chances are very high that the IRS will catch this and will adjust your refund if they haven't already sent it out or will send you a bill. At a former job we had a problem with the W2's that we caught in mid February and we were able to get the corrected W2's out by mid March. For those who had already filed their returns and received a refund (I was one of them) we received a notice from the IRS about 30 days later telling us what we owed. For those who had filed and had not received their refund, the refund was adjusted to the correct amount.
2007-03-05 04:03:35 · answer #1 · answered by Ooh, Ooh pick me 5 · 0⤊ 0⤋
Not sure about the last date that the IRS will accept changes to the W2, but you can always file an amended return after your employer gets it corrected.
2007-03-05 11:31:03 · answer #2 · answered by Dan821 4 · 0⤊ 0⤋
The IRS will accept a legitimate change at any time. If you know that the W2 is incorrect and is being corrected, you need to wait for the corrected one. It should only take the employer a day or so at most to prepare a corrected W2 and send it to you.
2007-03-05 11:46:35 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Your employer should file a "corrected" W-2. I am not aware of a deadline for employers to file corrected forms.
2007-03-05 12:11:13 · answer #4 · answered by ? 4 · 0⤊ 1⤋
http://www.irs.gov/pub/irs-pdf/iw2w3_06.pdf
When to File is the paragraph which will give the info regarding your employer, they should be able to fix that and re-issue quickly.
good luck & bless
2007-03-05 11:36:26 · answer #5 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋
I think it will be find. Call your tax accountant. They will be able to guide you.
2007-03-05 11:30:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋
good question....i would contact the IRS hotline for that question.
2007-03-05 11:30:19 · answer #7 · answered by Anonymous · 0⤊ 0⤋