How to File Taxes Without Waiting for W2

How soon you want to get your tax refund depends on how soon you file your taxes. But you can't move any further without your W2. Some employers are pretty quick in sending out W2 to their employees but some are not. But there is a way of filing your taxes without the W2. Follow the easy steps below.

Instructions

Difficulty: Easy

Things You’ll Need:

• The tax-year's last pay check or pay stub.
• Previous tax-year's W2 (optional)

How to File Taxes Without Waiting for W2

1. Have the last pay check or pay stub of the tax-year you are filing for ready.
2. Make a copy of your previous tax-year's W2. On the photocopy cross out the amounts printed in the boxes. Be prepared to write new numbers in these boxes. If you do not have the previous W2 forms take a plain sheet of paper and draw 8 boxes on it. Name each box as Box 1, 2, 3, 4, 5, 6, 16 and 17
3. Now decode your pay check by following few easy steps here. Keep in mind you would only need 'Year-to-date' amounts for your tax returns.
4. Locate the year-to-date gross pay on your pay check. Look for any 'Pre-tax deductions' if there are then subtract your pre-tax deduction amount from the gross pay. Write this figure in Box 1 and Box 16. If you have no pre-tax deductions then just write your gross year-to-date pay in 1 and 16.
5. Locate your 'Federal Income Tax' write it in box 2
6. Write your year-to-date gross pay in box 3 and 5. Do not subtract the pre tax amount this time.
7. Locate 'FICA', write this amount in box 4
8. Locate 'Medicare' deduction and write it in box 6.
9. Locate the state tax withholding. This is usually written as 'NY withholding' , or 'IL withholding', depending on the state where you worked. Write this amount in box 17
10. Congratulations! your W2 form is ready to be filed.

Tips & Warnings

• Some employees have other boxes to be filled out as well. For these individuals I suggest that they have their last years W2 available or just wait for their actual w2 to arrive.
• If you are not confident filing your taxes this way then you better wait for your W2. Please do not file the wrong amounts you may be audited. However if you filed your taxes incorrectly you may file amendments to your tax returns later.