Posted on 01/18/2012 11:28:42 AM PST by JDW11235
Hi Everybody. I wouldn't normally ask a tax question here, because I know that some people will just say "Go pay a preparer," but I was hoping to avoid a large cost if I can.
Here's the issue.
My employer used to use a 3rd party tax preparer to do all their payroll (not ADP, but a similar service). Then at the end of January, they switched to doing it all "in-house."
So today, I got my W2, and it is missing all earnings, taxes, etc., that I paid in the beginning portion of January. So I spoke with the HR/Payroll person, and she said that the other company would be sending a W2 and that "It's not [her] responsibility." So I'm curious, I'm going to be using TurboTax, and I don't know how to put in the two seperate W2's for one company. She said "Just add them together." I don't think that's correct. I have never encountered this situation, because I've never heard of a company where the last person to do payroll didn't do all of the payroll.
What is the correct proceedure when you get two seperate W2's from an employer? Can anyone help (ie. IS a tax preparer/accountant and really knows)? Even if not, suggestions are welcome. Thanks in advance.
This is common.
Just enter both W-2’s as though you had two jobs. As long as the totals are correct, it will make no difference. If you look at the Fed EI #’s they may be different on the two documents as sometimes companies use a third party payer and their information is on the W-2 as agent.
I’m a CPA
I submitted my return exactly as you described once a few years ago. They don’t care as long as you pay your tribute!
I had one that classified my HSA contributions as employer rather then employee contributions.
Your employer is required to provide you with a W-2. Period. If the preparer they used to use doesn’t give you one it is still your employer’s responsibility to provide this.
If they don’t then contact the IRS, your state’s revenue agency, and Social Security. Your employer will soon discover the meaning of “tax lien” and they’ll comply with the law and their obligations to you.
Thanks for the link. It was not quite the question I had, but still good to know. I’m thankful for the time taken to respond. Take care, and God bless.
Otherwise "Go pay a preparer". : )
Thank you all for your speedy and definitive posts. She did said she would make sure to get me the W2 from the 3rd party processor, so I had better have something postmarked and in my hot hands by the 3rd of Feb, lol.
I was just worried why it wasn’t aggregate, but I guess I can understand now with your explanations. I appreciate your prompt response!
Really I do appreciate all of your help and your time. Free Republic, and FReepers, are the best!
P.S. I especially liked the “They don’t care as long as you pay the tribute” comment, made me laugh.
ML/NJ
Check that you haven’t overpaid for Social Security, or other state payroll deductions that have an annual cap, as well as receiving credit for 401k deductions and employer credits for the entire year.
Ah, that’s very good advice. I’ll be sure to make sure and double check that. Good catch. Thanks.
Good advice. I’ll be sure to check on those. I have never been one for the 401k, because since I was younger, I’ve heard the threat of them being confiscated (as was proposed last year by a dem, and has happened in other countries). But I can for sure look into the other things you mentioned, and will be sure to. Thanks so very much, I hadn’t thought of them.
A friend used TurboTax for years but this year he plans to use the free return system on the IRS website. IIRC California (our home state) has a similar system.
I would guess that it depends on if both use the same employer ID numbers or not.
I’m trying to decide that very decision myself. Because my return is simple, I have been considering just using the free sites for state and Federal. The reason I haven’t so far, is because Turbotax has all of my records, so I can go back to a previous year and print off, etc. The jury’s still out for this year, but you bring up a good point. “Why pay when you can have it free?” I guess I have a couple weeks to figure out if it’s worth the extra 30 bucks to be able to print them. That’s almost dinner and a movie (albeit a cheap dinner, haha).
.....................I have never been one for the 401k, because since I was younger, I’ve heard the threat of them being confiscated .........................
You live in Amerika! We have supreme court, we have permission to own guns. Nobody will dare take your 401k from you. An employer who screws around with it goes to jail - bigtime.
You own your 401k, use it to create some wealth for yourself! Please provide for yourself in older age, and maybe even your employer kicks in to your account.
Social Security may be watered down, but maximize your savings in either a standard 401k, or in a Roth 401k, so you and your spouse can navigate through your later years, with tax free benefits.
America is bankrupt. The Congress needs money to satiate its spending appetite. Can they confiscate a 401(k) retirement plan? Perhaps not, but they can impose a 100% (or higher) tax on its contents and get the same result.
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