What to do if you received incorrect forms W-2 and 1099R

FORM W-2 and Form 1099-R should be available to you by January 31st and corrected versions should be available by end of February.  What you need to do if any of these Forms are not available to you:

• Call the IRS at 1-800-829-1040 for help. Make sure to have the following information handy as you call: 1) Name, address, phone number, and social security number, 2) Employer ‘s name, address, phone number, and 3)Employer identification number (EIN)

• Employer will be contacted by the IRS and request the Forms W-2 and 1099-R for you. Your employer will receive a letter from the IRS to provide information within 10-days, a reminder of responsibility to provide correct Form W-2 subject to penalties for failure to do so.

• The IRS will also send you a Substitute for Form W-2, Wage and Tax Statements, or Form 1099-R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, or Form 4852, with instruction letter for you.

• Use Form 4852: 1) to complete your tax return if upon filing Form W-2 and Form 1099-R are not available,  2) Estimate the amount  of  wages earned, payments  received, and  taxes withheld, and 3) If expecting a refund, expect delays in processing refund while the IRS verify the information provided.

• Keep Form 4852 to protect your social security benefits. After September 30 following the date shown in line 4 of Form 4852, contact the social security office to verify wages reported by your employer by: 1) visiting your local SSA Office, 2) visiting the online account https://www.ssa.gov/myaccount/, 3) calling toll-free at 1-800-772-1213 and for the deaf or hard of hearing, call our TTY number, 1-800-325-0778.

• File an amended income tax return by filing Form 1040X if you received Forms W-2 or Form 1099 after filing, and there are discrepancies from the information reported in your return.

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Disclaimer: Any accounting, business or tax advice contained in this communication is neither intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties.

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Al-os & Associates  Accountancy Corporation provides accounting and tax services to individuals, corporations, LLCs and business entities. The Firm has a niche in defending taxpayers audited by the IRS and other governmental agencies.

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