MARCH 6
MONEY MONDAY
If you are missing a W-2 or 1099 form, or if you notice an error on the form, there are a few steps you can take to resolve the issue:
1. Contact the issuer: If you haven’t received your W-2 or 1099 form, or if you notice an error on the form, the first step is to contact the issuer (e.g. your employer or the company that paid you as a contractor). Request that they provide you with a new form or correct the error.
2. Use the IRS to get the information: If you can’t get a corrected form from the issuer, you can use the IRS to obtain the missing or corrected information. You can request a wage and income transcript from the IRS, which will show the information reported on all of your W-2 and 1099 forms for a specific tax year.
3. File on time: If you don’t receive the corrected form before the tax filing deadline, you should still file your taxes on time using the information you do have. You can estimate the missing or incorrect amounts and attach a statement explaining the situation.
4. Amend your return: If you receive a corrected form after you’ve already filed your taxes, you may need to amend your tax return. Use Form 1040X to make changes to your original return.
Remember, it’s important to address missing or incorrect W-2 and 1099 forms as soon as possible to avoid potential penalties or interest charges.