W2 question

Forum|Forum|1 year ago
February 17, 2025
1 reply
4 views

I worked in Dec 2024, however, I was paid in January 2025 (checked dated and received). My understanding is that W2s are cash basis and thus are to be issued when payment is made - in my case January 2025. My employer issued a 2024 W2.
Since this was issued in error, how is this reversed? There was only SS and medicare deducted.

LindaS5247

Level 14

You could ask your employer to issue a corrected Form W-2. You are correct that we (taxpayers) are on a cash basis. If you were paid in 2025 for work done in 2024, the income should be reported in 2025 and you should receive a W-2 for this income for the tax year 2025.

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ainsworthkAuthor

Level 2

Would the corrected 2024 W2 then back out the social security and medicare that my employer deducted and submitted by error? Since in this case they shouldn't have even issued the 2024 W2.

ainsworthkAuthor

Level 2

But paycheck was dated in January 2025 - my understanding is that W2s are issued on a cash basis, thus even though I worked in December, BECAUSE my paycheck was DATED and received in January 2025, then no W2 for 2024 should have been issued. Am I understanding the IRS website correctly on this point?

My question then goes back to, since a W2 was incorrectly issued when it shouldn't have been, what steps are taken to reverse the reporting of the social security and medicare to the government?