2007-12-19 14:44:21 · 7 answers · asked by userdefined 3 in Business & Finance ➔ Taxes ➔ United States
You must wait for your W2 to come in before you file. Your last pay stub may be incorrect or misleading. Most of the time it is correct, but as was said, you don't want to have to file an amended it later. Amended returns can take up to 12 weeks to process. If you have to amend a return, it is possible that you will have to wait an additional 3 months for your return (kind of defeats the purpose of using a paystub).
The other reason you have to wait for your W2 is that the IRS does not accept any tax returns until at least a week and a half into January. You really cannot file that much earlier by using your last paystub.
On the other hand, you can use your last paystub to estimate what you will be getting back.
2007-12-19 15:00:30 · answer #1 · answered by j-man 4 · 1⤊ 0⤋
If you haven't gotten your w-2 by February 14th, the IRS has a substitute form 4852 that can be submitted with a paper return with copies of the last paycheck stub. The paperwork has to be reviewed manually so it would slow down any tax refund.
If you are hoping that you can cheat and file early before you get your w-2, forget about it. You'll have your w-2 before the IRS is accepting tax returns this year anyway.
2007-12-19 19:30:24 · answer #2 · answered by Anonymous · 1⤊ 0⤋
No. You must have the W-2 to file legally. There isn't enough information on most pay stubs to file a proper return anyway so if you try and mess it up you'll have to file an amended return. Not worth the hassle.
2007-12-19 14:52:01 · answer #3 · answered by Bostonian In MO 7 · 2⤊ 0⤋
The main problem you run into is that there could be a discrepency that would cause you to need to amend your return. The IRS doesn't accept electronic returns until Jan 15th or so and if you file a paper return you have to attach the W-2.
2007-12-19 14:52:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I wouldn't advise it. You want to make sure they match to be on the safe side. You could do a rough draft of your taxes to get an idea of where you are at, but to actually file you are going to want to have the W-2.
2007-12-19 14:51:32 · answer #5 · answered by HEATHER 6 · 0⤊ 0⤋
Yea you can go to places like J. Hewitt and they will give you things like a RAL loan or some crap like that. Its a loan against your taxes. But i think its an inquiry on your credit and then when you get your W2 you go back with that and they calculate the rest. But do you really want to have an inquiry on ur credit for something like that?
2007-12-20 01:52:32 · answer #6 · answered by Simply Kai 4 · 0⤊ 2⤋
Yes, you can. There is an extra form that you have to fill out. As long as it is your VERY LAST pay stub of the year and that it is correct. I don't remember what form it is, but you can print it off of the IRS website.
2007-12-19 18:17:01 · answer #7 · answered by Anonymous · 0⤊ 3⤋