Importance of W2 in Job Hunting and How to Acquire it from your Former Employer
It is normal for people to find great ways to increase income. Hence, we can not argue much if a person wants to switch for a high paying job. In addition, the opportunity to grow one’s career might be a good reason for switching job too. Nevertheless, if you got a new job from another company or trying to find one, perhaps it a good idea to more about W2 form.
What is W2?
Form W2 shows the wage and salary of the employees. It also reports various taxes and other payments such as retirement plan and health insurance taken from your wage or salary. Moreover, it also outlines if you can still get a tax refund or be obliged to pay the necessary tax. Fundamentally speaking, the employer will send this W2 form to his or her employees on or before January 31 yearly. Once these are not processed or filed on time, penalties and legal consequences may be acquired.
Why do you need W2 of your previous employer if you want to switch job or has a new job?
Legally speaking, it is not a requirement for job seekers to produce a copy of W2 of their previous job. Nonetheless, acquiring the right employee for the job would be very tricky and having the W2 form would be a method for most employers to hire the best. Furthermore, it might also be possible that employers need this form for profiling reasons.
Getting W2 from your former employer
Secure it from your previous boss
Most established companies will have the HR representative. If you happen to work in this type of company, probably you would not have any issue in getting W2 through the HR department. Besides, they should know the legality and importance of this action. But, if it is very complicated to it in this department, then maybe the next rational thing to execute is to directly approach your employer.
2. Ask help directly from the IRS
If after all your efforts, you still did not receive your W2 form after February 14, then it is good to directly turn to the IRS. But be sure to have all the needed information in filing your tax return.
File tax return by yourself
There are plenty of cases that the employer is not able to give the W2, but it does not mean that you will not file your tax. Use the form 4852 to do this for this the form that is permitted by the IRS as a substitute for W2 form.
Final Words
The W-2 form is a requirement for every employee and/or employer. And if your previous employer never sent you any W2 form, then never worry for you can always file your tax return on time and you can have something to show to your new employer.