DO NOT file without the W-2 in hand ... they are required to issue one by 1/31 so make sure they have your correct mailing address.
FIRST …by law you are required to have the W-2 in you possession prior to filing for 3 reasons:
1) You must physically attach a copy of the W-2 to a mailed tax return.
2) If you e-file you must retain the W-2 because the IRS can request that you send it to them at any time to verify the information so it must be in your possession.
3) You sign the tax return (either on paper or electronically) that the tax return is complete and accurate under penalty of perjury and without all the W-2 box information that can only be obtained from the actual W-2, it will not be complete or accurate.
Then …aside from being illegal … filing before your employer issues a W-2 is unwise for many reasons :
1) the info on the paystub will not match the W2 in most cases AND this will trigger an IRS audit AND/OR require you to amend the return which is a pain
2) the IRS will not process any return until they have the info from the employer to match to your return so filing early just puts you in a holding pattern with millions of others which can delay your return for weeks
3) any return with EIC or ACTC is automatically delayed in processing until after 2/15 no matter when you send in the return ... and in the past the early filers got stuck in the aforementioned holding pattern and their refunds were delayed
4) once again the tax forms have been redesigned so delays or bugs in the system will need to be worked out ... filing before these have been corrected can delay your return's processing as recent past history has proven ... in the case of the IRS the early bird doesn't usually get the worm, it only gets an un ripened apple.
Here are my annual words of caution …patience is a virtue and don't plan on your refund being in your account on a certain date then you won't be disappointed or overdrawn.
The IRS can take as long as they want to process the return and there is nothing you can do about it but wait patiently. They are processed individually these days so returns sent in at the same time will not necessarily process together or in the order they are received. The IRS states that 9 of 10 returns will process in 21 days or less. However considering that the IRS processes more than 140 million returns which means 14 million will be delayed for more than 21 days. There are no refund charts to refer to anymore so don't plan on your refund being in your account on any certain date then you won't be disappointed or overdrawn. It is possible that you get a DD date posted by the IRS and then a moment before the refund is released it gets put on hold while the IRS reviews the account which can delay it for months.
Think of the IRS process as a long pipe line. Some returns will be rejected before being allowed into the pipe and the rest will be accepted. Then once accepted into the pipeline many will process directly through without any delays and some will not. Some returns will be siphoned off for further review of some kind. The basis of what triggers these reviews is a well guarded secret but some are just picked randomly every year.
Some reviews are automated and some will require human attention. The processing times will vary but, due to the continued under staffing situation and budget cuts the IRS had been subject to, they are likely to be much longer again this year. It has been reported that some of the delay this year is due to the new anti fraud security screenings that were implemented.
You can keep checking this FAQ (if they ever update it)
https://ttlc.intuit.com/community/tax-planning-and-deadlines/help/tax-year-calendar-important-dates-...
