I work for a small business and the owner creates my w-2 on her own. For 2022, she accidentally entered the "bi-weekly taxes" removed from my check in boxes 2.4.6 instead of for the whole year...that resulted in me OWING instead of receiving what I should have.
Long story short, I received notice of seizer so she paid the total amount due.
My question is, how do I now go about amending those taxes so I can 1) receive my income and 2) apply for a new business loan that is REQUIRING those taxes.
ANY HELP IS GREATLY APPRECIATED!!!!!!!
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the business must file a w-2c to correct the errors on the w-2 and send you a copy. Did you actually file your 2022 return with the incorrect w-2?
after contacting your employer for a corrected W-2, if you don't get it in 10 days, I would say to use form 4852
which is a substitute for the w-2
if you already filed, you'll need to amend your return. If you get the w-2c use that and update the w-2 to reflect the boxes that changed. if you do not get it promptly then delete the w-2 and use form 4852 to
report what you estimate each box should be. Not sure what version of Turbotax you used but i don't think the 4852 is in the free version so you may have to pay to upgrade. should you subsequently get the corrected w-2c that's different than the 4852, you'll have to amend again
if you haven't filed, then you follow the above instructions, but you do not use an amend return.
in either case you need to file by mail (e-filing for 2022 is closed) and attach the w-2 /w-2c. use a tracking method so you know the IRS and state, if applicable, get the returns
in either case you need to promptly respond to the IRS notice. indicate that the original w-2 did not reflect your full year's withholding and that you are awaiting the corrected w-2 to file. Hopefully, your employer will quickly prepare and file those corrected forms. There's not much you can do until you get them.
Using Form 4852 can have significant implications for your tax return. The IRS may require additional time to validate the information provided, which could delay the processing of your return. This delay can affect the timing of your tax refund or any additional tax payments due. It you receive an incorrect w-2 or any other tax form, it's in your best interest to promptly contact the responsible party to get a corrected tax form.
currently it's taking the iRS more than 5 months to process an amended return and as noted above it may take even longer if you use the 4852.
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