- 1 When Do W2s Come Out? What About 1099 Tax Forms?
- 2 What should I do if my employer doesn't send me my W-2?
- 3 What To Do If You Have Not Received Your W-2
- 4 Tax Assistance for J-1 Participants
- 4.0.1 What IRS tax forms do I need to fill out?
- 4.0.2 When will I receive my W-2 and what do I do if I haven't received it?
- 4.0.3 I have my W-2 but do I need any other forms before I can file my taxes?
- 4.0.4 I did not earn any income in 2014, but I was present as a J-1 exchange visitor. Do I still need to file taxes?
- 4.0.5 Do I also need to pay Social Security and Medicare Taxes?
- 4.0.6 What should I file for my J-2 dependent?
- 4.0.7 What happens if I owe money to the IRS?
- 4.0.8 What happens if the IRS owes me money?
- 4.0.9 What should I do if I am outside the United States and cannot file my tax returns by April 15?
- 4.0.10 What should I look for in a professional tax preparation firm or accountant?
- 4.0.11 What happens if I do not file a tax return?
- 5 Employees Ask: What Do I Do with my Form 1095-C?
- 5.1 Will I receive a Form 1095-C from my employer?
- 5.2 Will I receive Forms 1095-A and 1095-B from my employer too?
- 5.3 What do the different parts on Form 1095-C mean?
- 5.4 When should I expect to receive my Form 1095-C from my employer? Will it come with my W-2?
- 5.5 My tax preparer asked for my Form 1095-C along with my W-2 this year. Do I need Form 1095-C to complete my individual tax return?
- 5.6 Do I need to submit Form 1095-C with my individual tax return?
- 5.7 Will I receive my Form 1095-C by email or in the mail?
When Do W2s Come Out? What About 1099 Tax Forms?
As December comes to a close its tax time again, and while some may be dreading paying taxes others are impatiently awaiting W2s or 1099s to file and so they can receive a big fat refund. This leaves two questions gracing Google quite a bit in December and January, when do W2s come out, and when do 1099s come?
Your employer or employers have until February 1st each year to mail your W2 form or forms to you. This does not necessarily mean you’ll receive your W2 by February 1 st , but that it must be post marked by this date. Considering this, you can expect your W2 to come any time after December 31 st when the tax year closes to around February 16th depending on mail speed. Most employers start sending tax forms out in the first week of January, however.
If your W2 has not arrived you should first contact your employer. It’s possible they had an incorrect address and the form was returned. After February 16 th, if you have already contacted your employer you can contact the IRS at 800-829-1040.
When do 1099 forms come out and what if mine doesn’t come?
1099 forms are commonly used for income from a source other than an employer. For example, freelancers usually receive 1099 tax forms rather than W2s. The deadline for post marks on 1099 tax forms is January 31 st . If you haven’t received a 1099 you are expecting you should, again, first contact the payer of the income. After February 15 th, you can contact the IRS at 800-829-1040.
How long do I have to file my taxes?
The deadline to file your taxes or request an extension is April 15 th . This means any mailed tax returns must be post marked by this date. If you are not able to file yet because of missing W2s or 1099 tax forms you need to contact the IRS at the number listed above before the deadline to file passes. You can file your federal taxes without a W2 or 1099 with the help of the IRS.
When can I expect my refund after I file my taxes?
When you receive your refund will depend on when your return was accepted by the IRS. In general, refunds are received within 21 days of receipt. You can check the status of your refund at the IRS Where’s my refund website.
What should I do if my employer doesn't send me my W-2?
Forbes advices employees who do not receive a W-2 to contact their employer. The law requires employers to provide employees with copies of the form by the last day of January, but most send them out in advance.
What does box 14 on a W-2 contain?
How do you get a past year's W2 form?
Before assuming an employer has not sent a W-2, Forbes instructs taxpayers to thoroughly double-check all of their paper mail. Additionally, employers sometimes send the form or access to it through email; it is worth the time to look at both the inbox and junk mail.
Forms are sometimes lost due to a change of address. Missing information on tax forms can also cause W-2 delivery problems. A phone call to the payroll office is the quickest way for employees to remedy these problems, according to Forbes.
If the form is not in hand by February 14, Forbes advises taxpayers to call the IRS. The IRS contacts the employer with a form 4598 concerning the issue. It also sends the employee a copy of the form along with a substitute form to use in filing with a missing W-2. When filing with the substitute form, the IRS requires the taxpayer to wait until April 15 to file, in order to provide time for the employer to provide the missing form.
What To Do If You Have Not Received Your W-2
Before you file your current year's tax return, you should make sure you have all necessary documents including Forms W-2. You should receive a Form W-2 Wage and Tax Statement from each of your employers. Employers have until February 2, 2017 to send you a 2016 Form W-2 earnings statement.
If you haven’t received your W-2, follow these four steps:
Tax Assistance for J-1 Participants
The American Immigration Council cannot legally provide you with tax advice or endorse services from tax accountants. This page provides links to resources located on the IRS website . If you have any tax law questions, contact the IRS directly.
For tax filing purposes, most J-1 visa holders are considered Nonresident Aliens . As Nonresident Aliens, J-1 exchange visitors must pay federal, state and local taxes.
J-1 visitors must file annual income tax reports with the Internal Revenue Service (IRS), which is the U.S. government agency responsible for collecting federal taxes. The IRS publishes the comprehensive U.S. Tax Guide for Aliens , that answers questions on such topics as what is a nonresident alien, how to determine the amount of tax one pays, and how to get help with your tax questions.
You may find the following helpful:
What IRS tax forms do I need to fill out?
Most J-1 exchange visitors will complete either a 1040NR or 1040NR-EZ (US Non-Resident Alien Income Tax Return). The 1040NR and 1040NR-EZ are very similar. The “EZ” in 1040NR stands for the word “easy,” meaning that the 1040NR-EZ is the short version of the 1040NR. The IRS has designed a survey that helps you decide if you should file form 1040NR or form 1040NR-EZ: http://www.irs.gov/instructions/i1040nre/ar01.html
For more detailed information on which forms you should file as a Nonresident Alien taxpayer, visit: http://www.irs.gov/Individuals/International-Taxpayers/Aliens---Which-Form-to-File
When will I receive my W-2 and what do I do if I haven't received it?
You will need the W-2 form to complete your tax return. Your host organization is legally required to send you a W-2 form showing all earned income paid to you during the current calendar year by January 31. Contact your host organization's human resources department or your supervisor if you have not received form W-2 by that date. For more information on the W-2, visit this webpage: http://www.irs.gov/uac/Form-W-2,-Wage-and-Tax-Statement
I have my W-2 but do I need any other forms before I can file my taxes?
You may need additional information before you can begin filing your Federal and State income taxes. In addition to form W-2, you may also need to obtain IRS form 1042-S. Form 1042-S must be filed by March 15, so it may arrive later than form W-2. Here is some more information on IRS form 1042-S: http://www.irs.gov/Individuals/International-Taxpayers/Form-1042-S,-Foreign-Person%27s-U.S.-Source-Income-Subject-to-Withholding
I did not earn any income in 2014, but I was present as a J-1 exchange visitor. Do I still need to file taxes?
Yes. Even if you were in the U.S. for one day as a J-1 exchange visitor and did not earn any U.S. income, you still need to file Form 8843, the Statement for Exempt Individuals and Individuals With a Medical Condition: http://www.irs.gov/uac/Form-8843,-Statement-for-Exempt-Individuals-and-Individuals-With-a-Medical-Condition-1
If your country has a Tax Treaty with the U.S, you may need to indicate this when you file taxes as it can affect the rate at which you are taxed. If you are not sure, review IRS Publication 901, U.S. Tax Treaties: http://www.irs.gov/uac/Publication-901,-U.S.-Tax-Treaties-2
Do I also need to pay Social Security and Medicare Taxes?
U.S. residents and some nonresidents also pay Social Security and Medicare withholding taxes. If you are a J-1 visa holder, you may be exempt from paying these taxes. The Social Security Administration describes its Nonresident Alien Tax Withholding policy here: http://www.ssa.gov/international/AlienTax.html
If you believe you are exempt from paying Social Security and Medicare taxes, the following forms may be of use to you:
Form 8316: Information Regarding Request for Refund of Social Security Tax Erroneously Withheld on Wages Received by a Nonresident Alien on an F, J, or M Type Visa: http://taxmap.ntis.gov/taxmap/ts0/form8316informatio_f_198756e1.htm
What should I file for my J-2 dependent?
All J visa holders must file a return. If the J-2 has not earned money in the United States, file Form 8843. If money has been earned, then also file either the 1040NR or 1040NR-EZ. The J-2 who earned money may also be responsible for Social Security and Medicare taxes. Consult with a tax specialist knowledgeable of J-1 and J-2 tax issues.
What happens if I owe money to the IRS?
If you underpaid total taxes to the government during a tax year, you will have to pay additional taxes to the IRS. You can pay online using a credit or debit card, choosing one of the payment processors on the IRS website: http://www.irs.gov/uac/Pay-Taxes-by-Credit-or-Debit-Card
What happens if the IRS owes me money?
You will receive a refund, which means you get money back from the IRS for taxes that you overpaid to the government. If you file electronically (efile), check the status of your refund here: http://www.irs.gov/Refunds
You may need to file a State Income Tax return. Find the website for each State’s Department of Revenue here: http://www.aicpa.org/Research/ExternalLinks/Pages/TaxesStatesDepartmentsofRevenue.aspx
What should I do if I am outside the United States and cannot file my tax returns by April 15?
If you cannot make the April 15 deadline for filing your tax return, you may be eligible for an extension. More information on obtaining an Extension of Time To File U.S. Individual Income Tax Return is available at: http://www.irs.gov/uac/Form-4868,-Application-for-Automatic-Extension-of-Time-To-File-U.S.-Individual-Income-Tax-Return
What should I look for in a professional tax preparation firm or accountant?
Seek help from a tax accounting professional who is familiar with J-1 and J-2 tax issues. We cannot recommend a specific service; you may want to consult your host organization’s HR department for help locating a competent service. Many popular services rely on software that does not contain provisions for the special considerations of your J status.
What happens if I do not file a tax return?
When the IRS recieves the W-2 form from an employer but cannot match it to a tax return, the service creates a tax return that assumes unreported revenue. You then become liable for the tax on this created return. Should you wish to return to the U.S. for employment purposes in the future, you will discover you owe unpaid tax plus interest and penalty.
Remember to keep copies of your tax documents, including your tax returns, for your personal records!
Employees Ask: What Do I Do with my Form 1095-C?
Jan 26, 2016 8:00:00 AM / by John Duval
Last week, the IRS opened its doors to begin receiving tax forms for the 2015 calendar year. Employers and employees alike are seeking direction for tax and reporting forms. Many employees know to expect a new form from their employers this year along with their W-2 but don't know much about it. If you're asking, "What do i do with my Form 1095-C?" you're not alone. We'll help you understand.
What is this Form 1095-C exactly? What about the recent IRS ACA reporting deadline extensions?
First, let’s discuss the purpose of Form 1095-C.
Form 1095-C is for reporting employer-provided health insurance offer and coverage . This form provides information employees will need to complete their individual tax returns. Employees will show whether they or their dependents had offers for minimum essential coverage. They will also show whether they received this coverage.
Similar to how your W-2 shows whether you owe taxes, Form 1095-C shows whether you and your employer need to pay fines for ACA noncompliance. This falls under the individual mandate and employer shared responsibility mandate.
Now let’s cover some important questions employees have about Form 1095-C.
Employers, see this article with instructions specific to your responsibilities with Form 1095-C.
Will I receive a Form 1095-C from my employer?
You will receive a 1095-C from your employer if your employer:
- Qualifies as an Applicable Large Employer. ALEs are employers with 50 or more full-time equivalent employees, OR
- Is a small business member of a controlled or affiliated service group with 50 or more full-time equivalent employees all together.
- If your hours of service equaled 130 or more hours in a month, or
- If you are a part-time employee enrolled in an employee-sponsored health plan.
Will I receive Forms 1095-A and 1095-B from my employer too?
You will receive Form 1095 from the entity that provided you health insurance coverage for 2015.
- Form 1095-A: you received coverage from a marketplace organization.
- Form 1095-B: you received coverage from a self-funded group or Small Business Health Options Program.
Your insurance carrier may also send you Form 1095-B if you enrolled in a fully-insured employer-sponsored health plan.
What do the different parts on Form 1095-C mean?
Part I: Employee and Applicable Large Employer member information. You may truncate employee ID numbers and social security numbers in individual statements. Statements submitted to the IRS by the employer must include the full numbers.
Part II: Employee Offer and Coverage. Part II reports on health coverage offered and the affordability of that coverage. For reporting on 2015, the Plan Start Month box is optional, however the IRS anticipates it will be a requirement in the future. For information on indicator codes in this section, see the IRS code definitions .
Part III: Covered Individuals. This section reports on the individuals and dependents covered under the self-insured plan. Social security numbers are required for all dependents. As a reminder, spouses are not included in the definition of dependents under the ACA.
For more detailed instructions on Form 1095-C, visit the IRS instructions page .
When should I expect to receive my Form 1095-C from my employer? Will it come with my W-2?
Employers must furnish Form 1095-C to employees by March 31, 2016. The IRS extended this due date for 2016 and the deadline will be January 31 (same as W-2) in the future.
Because of this extension, it is likely this year you will not receive Form 1095-C at the same time as your W-2.
My tax preparer asked for my Form 1095-C along with my W-2 this year. Do I need Form 1095-C to complete my individual tax return?
Most employees will not need to wait to receive their 1095-C to file their tax return in 2016. The IRS has a list of documentation to keep in your records to verify your coverage. Next year, you may need both forms to complete your individual tax return.
Employees will need their 1095-C information if the employee:
- Had gaps in health coverage for three or more months in 2015. In this case, the individual may be applying for an exemption from the individual mandate and will need Form 1095-C to do so.
- Had an unaffordable offer of coverage from an employer and received health coverage through a marketplace organization with a premium tax credit.
Do I need to submit Form 1095-C with my individual tax return?
No, do not attach the form to your tax return documents. You may keep the form for your records and refer to the form as needed when completing federal tax documents. Your employer will file the statement with the IRS.
Will I receive my Form 1095-C by email or in the mail?
Unless the employee gives consent, employers must furnish Form 1095-C to employees by paper. Employees may offer consent by paper or electronically, but, any consent given on paper must be confirmed electronically.
Speak with your employer or HR department for more information receiving your statement electronically.