Rectilinear Propagation

What happens is that the IRS runs a program that compares what you reported on your tax return with what your employer, banks, etc reported to the IRS. The program sends you a letter proposing changes if the amounts differ.

This matching program is typically done about 18 months after your tax return has been filed.

ex-IRS

Two years later they send me a letter saying I have to pay back a bunch of money plus penalties and to respond if I disagree. I wrote back saying I disagreed.

They sent another letter saying this was a second attempt and if I didnt write back, they would move forward with the request for payment. I wrote back again saying I disagreed.

I received another letter saying that, since they never received a response, they were going to move forward and I owed them an assload of money.

At that point it was either hire a lawyer or pay up. I paid. I figured I probably DID owe the cash since I was most certainly wrong in the numbers I concocted. But the most annoying part of it is, if the IRS knows what numbers should be on the W2 form, why the hell dont they just provide the information to you instead of having you guess?

Stupid system. bottom line is, if you are in this situation, keep the return cash somewhere handy because youre going to be returning it eventually.

ProjectGSX

1. THERE IS NO FOLLOW-UP DONE BY THE IRS to see if the employer sends the W-2. I would often get a letter or call from the taxpayer saying the employer never responded to my letter and all I could do was send a second letter or call the employer if the taxpayer had provided me a company phone number.

2. I NEVER saw a single penalty imposed on an employer for not sending the W-2 as requested in the IRS letter.

3. I do not recall there even being any procedures detailing what to do if the employer failed to send the W-2 or how to asssess the penalty against the employer.

You are much better off filling out Form 4852 with information from your last paycheck stub. If you later receive the missing W-2, you can file an amended tax return using Form 1040X if the W-2 information is different than the info from your last paycheck stub/Form 4852.

ex-IRS

Optimistic Prime

Dear FOLIOfn® Customer,

In the past, FOLIOfn has provided 1099 documents prior to January 31st, but we found that a large number of customers needed a corrected 1099 after this date due to corporate activity. This is because a significant number of companies have previously re-characterized payments made during the prior tax year in the first couple of months of the New Year. For example, a portion of previously paid dividends may be reclassified into Return of Capital payments. Also, REITS, Mutual Funds and ETFs often make spillover payments, or payments throughout January that are taxable in the prior tax year.

Issuing corrected 1099s has resulted in undue customer confusion and wasted time, paper and money in past years. To reduce the number of corrected 1099 forms issued for the 2007 tax year, the Internal Revenue Service has allowed FOLIOfn to deliver 1099s in mid-February. Your 1099 form will be available in your filing cabinet on Saturday, February 16, 2008.

ETC.

blitzcat

urabl

dsgnomite

Narockstar

Empire

Yeah sure...I know, a replacement is on its way. But of all the things for the USPS to destroy...

Aesteval

Or else... the IRS will fine them $50. This will strike fear into the heart of any company.. not.

ldavis480

Think about that and think about NOT getting a county pension when you retire but being soley responsible for your own retirement savings...then maybe you'll understand.

econobiker

theutopian

tylerk4

Rectilinear Propagation

Kurtz

akalish

theblackdog

If you do not receive the missing or corrected form by February 15th from your employer/payer, you may call the IRS at 1-800-829-1040 for assistance. You must provide your name, address (including zip code), phone number, Social Security Number, dates of employment, your employer/payer's name, address (including zip code), and phone number. The IRS will contact the employer/payer for you and request the missing form. IRS will also send you a Form 4852 (PDF), Substitute for Form W-2 or Form 1099-R.

says nothing about a penalty anymore.

Falconfire

yesteryear

yesteryear

I once had an employer not send me my W2 until April, so I looked into the laws a bit. Step 2 above is basically worthless. You just have to hope they send you one and you have to fill out the replacement form if they don't. The burden is on the taxpayer, not the employer.

noquarter

blitzcat

valsharess1

Dead Wrestlers Society

ダニー最高

Sidecutter

Falconfire