Tax season has officially kicked off as the IRS began to accept returns on January 27th and will do so until April 15th. While some people are excited at the prospect of the money they can get back, others are worried about compiling the information they need to file accurately and on time. This time of year can be particularly stressful for temp/gig workers because they may be employed with several companies, or are using multiple tax forms.
Two of the most common tax forms for workers is a W2 and a 1099. So what’s the difference? According to fundera.com, “1099 and W2s are the different tax forms used to deduct payroll taxes on different types of employees. 1099 employees are self-employed independent contractors. They receive pay in accord with the terms of their contract and get a 1099 form to report income on their tax return. A W2 employee receives a regular wage and employee benefits. The employer withholds income taxes from the employee’s paycheck.”
At LGC, all our employees receive a W2. In this post, we’ll cover a few frequently asked questions about how to retrieve your W2 so you can get to filing.
How do I get my W2?
Our payroll partner, Advance, will have all W2’s mailed by January 31st.
Why didn’t I get my W2?
Advance sends your necessary tax forms to the home address we have on file. If you moved recently or provided an incorrect address, you may not receive the mailed W2.
What if I have the wrong address on file?
If you think you have an incorrect address in our system (or aren’t sure), you should contact your local office.
What if I never got my W2 in the mail?
If you never received your W2, you can get an electronic copy emailed to you in mid-February once LGC receives them. We cannot send electronic copies until they are received at corporate.
If you don’t get your W2 in the mail, please contact your local office to let them know so you can be sent the electronic copy once they are available.
What if the address LGC has on file is correct?
If we have your most up to date address, then sit back and relax – your W2’s will be there soon!