02/01/2022
NO, DO NOT FILE USING YOUR LAST PAYSTUB ONLY, AND I DON'T CARE WHO OFFERS THIS, IT'S ILLEGAL. THIS IS NOT UP FOR DEBATE.
I am on vacation but I have to make sure you are doing things legally, ethically, and compliantly when it comes to your taxes.
It's just too much misinformation and scamming going on and someone has to intervene so I guess that's me.
Can You File Taxes Without a W-2, using your last pay stub only?
No, you can’t and YOU should run from any tax business offering this to you.
Understand this:
• Your last paycheck stub is not guaranteed to be an accurate statement of your annual earnings, and it could be missing some information that you need to file a full tax return.
• Filing a tax return that has inaccurate or missing information, you could be required to file an amended return. That could cost you more in tax preparation fees and could increase the amount of time it takes for the IRS to issue a refund.
• The IRS will not accept your electronically filed tax return using a paystub.
• These tax offices that offer this service are not filing your tax return with the IRS, they are submitting your tax return to the bank that will issue you your full or partial tax refund as a loan. Your tax return has not been filed with the IRS. Once you receive your W2 you are to submit it to your tax office for their records.
• Think about this, if the IRS says you need a W2 to file your taxes and you used your last pay stub how could your tax return be filed at the IRS?
• There is a certain date the IRS will allow us tax pros to file your tax return using a Substitute W2 Form 4852 along with your paystub but that is usually in late February not at the beginning of January or February, but in late February.
• Don’t get twisted up in the non-compliant, unethical, illegal tax game
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