Tax Planning When Should I Receive My W-2 Form? Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Ginita Wall Published Jan 10, 2024 - [Updated Jun 14, 2024] 3 min read Reviewed by Katharina Reekmans, Enrolled Agent If you were employed during 2023, you should receive your Form W-2 (officially known as the Wage and Tax Statement) from your employer soon since employers are required to send them out by January 31, 2024. If you were self-employed or worked on a contract basis with no taxes withheld, your income may be reported to you on different tax forms: a 1099-NEC or 1099-K, which you should also see soon. The Affordable Care Act requires employers to report the cost of offered employee insurance coverage under an employer-sponsored group health care plan on the W-2 they issue to you. That information will appear in Box 12 of your Form W-2, identified by the Code DD. But don’t worry – just because the information appears on your W-2 doesn’t mean it is taxable to you. These benefits have always been tax-free, and the information is there so you can better understand the cost of the health insurance benefit you receive through your employment. Try Our Tax Documents Checklist Here are some tips for reviewing your W-2: Notify your employer if your social security number is wrong in Block A, and ask your employer to issue you a corrected form. Don’t try to change it yourself – your employer must send a correct copy to the government for the change to be effective. Don’t assume your W-2 is correct – compare the figures in Box 1 (federal wages), Box 2 (federal income tax withheld), Box 16 (state wages) and Box 17 (state income tax withheld) to the figures on your final paycheck stub for 2023. If your employer paid for your moving costs during the year, review Box 1 to see if those payments are included there. Prior to tax year 2018, if your employer paid your moving costs you were also able to deduct what you spent for moving expenses, but under tax reform, you can no longer claim moving expenses unless you are active-duty military. If you don’t receive your W-2 form by the first week of February, contact your employer. If the employer refuses to provide your W-2, contact the IRS at 1-800-829-1040 with the employer’s name, address, telephone number, and employer ID number, if you know it. If you still can’t get a W-2 form, file Substitute W-2 Form 4852 with your tax return, based on your final pay stub from that employer for 2023. Knowing how to read a Form W-2 can help you understand your salary, and can also help you get a head-start when preparing your taxes. TurboTax lets you get a jump start on your taxes by allowing you to snap a photo of your W-2 from your phone or tablet, no matter what your tax situation is. TurboTax can also import your W-2, eliminating data entry. With TurboTax W-2 import, over 150 million W-2s are supported. There may be other forms you may start seeing soon like Form 1098 for mortgage interest or Form 1095-A, B, or C for health insurance information. And keep in mind: per the IRS, you only need to file form 1095-A if you purchased 2023 health insurance in the Health Insurance Marketplace, but you don’t need to wait for a form 1095-B or C. They are for information purposes only. No matter what moves you made last year, TurboTax will make them count on your taxes. Whether you want to do your taxes yourself or have a TurboTax expert file for you, we’ll make sure you get every dollar you deserve and your biggest possible refund – guaranteed. Get started Previous Post How Bonuses Are Taxed: A Complete Guide Next Post Mail Call: Common Tax Forms to Expect in the Mail Written by Ginita Wall More from Ginita Wall 2 responses to “When Should I Receive My W-2 Form?” Is it difficult to use Premier Turbo Tax to put a rental property on your taxes….. Reply I would like to know if I should be getting a 1095 form. I am a retiree and I got my health insurance through a Private Exchange. I called the exchange and they referred me to the company that provide my pension and they contacted the benefits office and the benefit office referred me to healthcare.gov or they said if I was getting one it would come from the government in mid March. The only thing I get on healthcare.gov site is information on opening a new account or asking for an account for existing healthcare purchased through that exchange. I need to know if I should be getting 1095 or not. Reply Leave a ReplyCancel reply Browse Related Articles Tax Planning Mail Call: Common Tax Forms to Expect in the Mail Tax Tips 1098 vs 1099 forms Explained (Difference Between These … Tax Tips What Is a 1099 Form? Reporting Your Income for Taxes Taxes 101 What is a 1099 Form? Tax News Tax Form Arrival: What Other Tax Forms You Should Expec… Self-Employed 1040 vs 1099 (What Are the Form Differences?) | TurboT… Self-Employed How to File Self-Employment Taxes (Understanding the Fo… Small Business Guide to Small Business Tax Forms, Schedules, and Resou… Income and Investments A Look at 6 Common 1099 Forms Self-Employed I Received Form 1099-MISC… But I Don’t Own …
I would like to know if I should be getting a 1095 form. I am a retiree and I got my health insurance through a Private Exchange. I called the exchange and they referred me to the company that provide my pension and they contacted the benefits office and the benefit office referred me to healthcare.gov or they said if I was getting one it would come from the government in mid March. The only thing I get on healthcare.gov site is information on opening a new account or asking for an account for existing healthcare purchased through that exchange. I need to know if I should be getting 1095 or not. Reply