It’s that time of year again! As winter begins to wind down, our thoughts turn to longer days, spring flowers and … taxes?! Unfortunately, it’s true.
Every employee in the state should have received an Alabama W-2 form from his or her employer by this point. By law, each employer must give each employee an accurate W-2 form by January 31. The W-2 form shows a variety of information that is critical for filing your income taxes. This includes your total wages earned, and the amount of federal and state taxes withheld. Payments to a health care plan, which are non-taxable, are also included, as well as FICA and other deductions.
Most employers mail all W-2s. A few employers hand the forms directly to current employees or include them with the last paycheck received in January. They mail forms only to former employees. Either way, if you don’t have a W-2 form in hand by now, it’s time to take action.
What’s the most common reason for an employee to not receive a W-2 form? Often, employees have moved. In some cases, they neglected to give the employer their new address. IN other cases, even though the employer has the updated address in the employee’s personnel file, the information didn’t make it to the payroll processing department.
This problem can be exacerbated when an employer uses a payroll processing firm. Using a contracted service to prepare payroll is a labor-saver for many small to medium-sized businesses. However, often the address updates just aren’t done.
If you haven’t received your W-2, take a minute to check your address on your paycheck. Most likely, that’s the address that your W-2 was mailed to. Is it correct? If not, now is the perfect time to contact your employer or the human resources department and have the address updated.
If you haven’t received an Alabama W-2, contact your employer. Normally, they will quickly send you a replacement. Even if the address was correct, the first copy could have gone astray in the mail. A few smaller employers may be late in delivering W-2s, but most companies are scrupulous about it. After all, it is the law.
Getting an accurate W-2 on time is more critical than ever in preparing your income tax than in the past. Just a few years ago, taxpayers without a W-2 could simply include a paycheck stub, and be done with it. Today, the IRS is cracking down on employers who don’t issue W-2s, and on taxpayers who don’t have them. If you file your taxes without a W-2 form attached, you’ll have to fill out additional paperwork explaining why the employer didn’t give you a W-2. Worst of all, your tax refund may be delayed if you don’t include a W-2 with your return.
