No W-2

[Super Mom]

I have a client still waiting for a W-2 from a bankrupt company. She talked to their CPA and asked for the last paystub copy so that she can file the 4852 substitute w-2 form and do her taxes. She was told that form is not "advisable". Not advisable for who, her or the bankrupt co? I've never filed the 4852 before, any advise?

[thomtax]

I have a client still waiting for a W-2 from a bankrupt company. She talked to their CPA and asked for the last paystub copy so that she can file the 4852 substitute w-2 form and do her taxes. She was told that form is not "advisable". Not advisable for who, her or the bankrupt co? I've never filed the 4852 before, any advise?

I have filed a couple without any problem occurring. The employer would withhold all the taxes, but would never issue a W2. The employee knew where he kept the records and made a copy of his payroll records while the employer was out. I actually think the employer was basically stealing the taxes deducted.

They may mean it is not advisable because it will point out that the CPA firm has failed to provide the information.

LT

[JohnH]

"Not advisable" is almost always the response of some lower-level employee who doesn't know what to say or doesn't want to ask the boss for clarification. To me it's just a CYA catch-all having no meaning.

[Super Mom]

That's what I thought, thanks!

[appelman]

Take a look at this:

Issue Number:****IRS Tax Tip 2011-28

Here is What to do If You Are Missing a W-2

Before you file your 2010 tax return, you should make sure you have all the needed documents including all your Forms W-2. You should receive a Form W-2, Wage and Tax Statement, from each of your employers. Employers have until January 31, 2011 to send you a 2010 Form W-2 earnings statement.

If you haven’t received your W-2, follow these four steps:

1. Contact your employer If you have not received your W-2, contact your employer to inquire if and when the W-2 was mailed. If it was mailed, it may have been returned to the employer because of an incorrect or incomplete address. After contacting the employer, allow a reasonable amount of time for them to resend or to issue the W-2.

2. Contact the IRS If you do not receive your W-2 by February 14th, contact the IRS for assistance at 800-829-1040. When you call, you must provide your name, address, city and state, including zip code, Social Security number, phone number and have the following information:

Employer’s name, address, city and state, including zip code and phone number
Dates of employment
An estimate of the wages you earned, the federal income tax withheld, and when you worked for that employer during 2010. The estimate should be based on year-to-date information from your final pay stub or leave-and-earnings statement, if possible.

3. File your return You still must file your tax return or request an extension to file April 18, 2011, even if you do not receive your Form W-2. If you have not received your Form W-2 by the due date, and have completed steps 1 and 2, you may use Form 4852, Substitute for Form W-2, Wage and Tax Statement. Attach Form 4852 to the return, estimating income and withholding taxes as accurately as possible. There may be a delay in any refund due while the information is verified.

4. File a Form 1040X On occasion, you may receive your missing W-2 after you filed your return using Form 4852, and the information may be different from what you reported on your return. If this happens, you must amend your return by filing a Form 1040X, Amended U.S. Individual Income Tax Return.

[ToledoEd]

I have had no problems filing with substitute W2s, preparing them with the best information available, either last paystub or other available info, Getting thru to the IRS in season is never easy, so sometimes you can look to a local city tax department to encourage the company to issue forms. Usually easier to get thru and local enough to care about the missing W2s. Also alerts them to missing payroll tax potential, getting you a few brownie points.

[Davc]

In this case I have to side with the CPA office, Their client was the business, not the employee. They could be found liable for violating the privacy of their client by giving the TP the information. It's your clients responsibility to keep at least their most recent pay stub until they receive the W-2 and verify the information.

[Golden Rocket]

What a Solution!

2. Contact the IRS If you do not receive your W-2 by February 14th, contact the IRS for assistance at 800-829-1040. When you call, you must provide your .

Boy this is sure going to work!! It's really simple, all you have to do is call the IRS on their 829-1040 number, and I'm sure they'll jump right on it. They'll track down this sleazy employer and get a W-2 for you pronto!! Meanwhile, they want a complete audit trail right to YOUR door.

[Super Mom]

In this case I have to side with the CPA office, Their client was the business, not the employee. They could be found liable for violating the privacy of their client by giving the TP the information. It's your clients responsibility to keep at least their most recent pay stub until they receive the W-2 and verify the information.

I had no idea that the firm could not provide that information to the employee who worked it! Thanks for the info.!!!!