My mother LOST my W2 last year and assured me it would be okay but I want to know for sure from some one who knows! I do plan on paying it back but I need to know if it really is okay to file for them this year and any other information I should know.
2007-03-31 10:57:11 · 7 answers · asked by sugarmox 1 in Business & Finance ➔ Taxes ➔ United States
You will be liable for:
(1) No filing of taxes
(2) Late filing of taxes
(3) Default in tax payment
All the above three come with heavy penalities. I suggest you connect with the Tax Department ASAP and ask for a special form to be forwarded to you for your filing. There will be panalties. You can't lump previous incomes into this year's returns. The law does not allow that!
2007-03-31 11:04:23 · answer #1 · answered by SGElite 7 · 0⤊ 1⤋
All I can add to SG Elite response, is "STOP THE BLEEDING." File your taxes as quickly as possible. The longer you go, if you owe money, the more it will cost you in interest and penalty. The fact that your Mother lost your W-2 is no excuse. Get the taxes filed and get a clean start.
At this point you are probably young and all will be forgotten once you file, pay your taxes due, if any, and pay your interest and penalty due. But the IRS will find out and it will get worse if you don't pay.
2007-03-31 18:12:01 · answer #2 · answered by Remember Back 3 · 0⤊ 0⤋
You need to get a copy of the W-2 from last year, and file last year's return. Your mother is wrong - it's NOT okay to wait for a year to file - since you owe, there will be penalties and interest. At some point the IRS will contact you about not filing last year. You already owe interest and penalties, and they will continue to mount until you file and pay what you owe.
2007-03-31 18:25:04 · answer #3 · answered by Judy 7 · 2⤊ 0⤋
you need to go back to your employer at that time and request replacement w2 form or go to the IRS via the phone and explain that you have a lost w2,what do they suggest ,you wont be arrested for filing late as long as you are showing an effort to correct the situation,then promptly file,if you don't have the money to pay,no sweat,the IRS will work out a reasonable payment plan,on the phone.they have bigger fish to fry.your mom is gonna get you in trouble.contact employer for replacement,I've done this before,no big deal unless you do nothing
2007-03-31 18:08:17 · answer #4 · answered by grizzly 4 · 1⤊ 0⤋
I am not a lawyer or tax preparer, but I will give you a guess. See if you can get your last year's employer to give you another W-2 copy from last year and go to a good tax preparer with all your papers and get their advice on how to file amended returns. Good luck.
2007-03-31 18:09:10 · answer #5 · answered by hillbilly 7 · 0⤊ 0⤋
This is not a big deal. You probably have a refund coming if your only income was a W-2, and you can still get the refund.
There are no penalties if you do not owe money, penalties are calculated on the balance due; no balance due no penalty.
Call your employer and get a copy of the W-2 and file your return.
2007-03-31 19:12:51 · answer #6 · answered by irongrama 6 · 0⤊ 2⤋
Well first off it depends on how much you made. because if you made under a certain amount then you dont have to even file taxes. But if you made more then 3300 then you need to file. All you got to do is go and get another w-2 from the employer...request another copy. They should be able to give you one. If not go to the the owner...or the corprate office (by go I mean call) and they should be able to give you one.
2007-03-31 20:55:13 · answer #7 · answered by lizzy_one 2 · 0⤊ 1⤋