Kansas City, MO, (MARKET WIRE via COMTEX) -- Millions of taxpayers anxiously awaiting their W-2 to arrive so they can start their tax returns, may have to wait just a few days longer. Legally, employers have until Jan. 31 to have W-2 forms postmarked, but this year, that's a Saturday, so they have until Monday, February 2 to send the W-2.
"Employers may be mailing W-2 forms a few days later than in years past and that may have some taxpayers a bit restless," stated Gil Charney, principal tax researcher at the Tax Institute at H&R Block (NYSE: HRB). "But not to worry, there's still plenty of time. What's most important is to make sure the return is prepared accurately, whether doing it yourself or seeking the advice of a tax professional, to maximize your refund and avoid delays."
If a taxpayer finds themselves waiting by the mailbox and have yet to see their W-2 arrive, fret not. The Tax Institute says it can take up to a week for the W-2 to arrive. If that date still has come and gone, contact the employer immediately and inquire about the nature of the delay. It could be the taxpayer's address hasn't been updated since a recent move, or that the employer has the W-2 available online. If a taxpayer's employer has closed or there are issues that may prevent them from receiving it, there are other means of providing the IRS with the required information. A seasoned tax professional could easily assist with this process.
The Tax Institute also encourages taxpayers to review their W-2 for accuracy once they've received it, and make sure the information within seems reasonable.
The Tax Institute, a division of H&R Block, is a national leader in providing unbiased research, analysis and interpretation of federal and state tax laws. Staffed by Enrolled Agents, CPAs, and Attorneys, The Tax Institute provides industry expertise for matters related to taxes and the professional tax preparation industry.
H&R Block Inc. (NYSE: HRB) is the world's preeminent tax services provider, having served more than 400 million clients since 1955 and generating annual revenues of $4.1 billion in fiscal year 2008. H&R Block provides income tax return preparation and related services and products via a nationwide network of approximately 13,000 company-owned and franchised offices and through TaxCut(R) online and software solutions. The company also provides business services through RSM McGladrey.
SOURCE: H & R Block