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Author: BuffaloMG One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121256  
Subject: W-2 Form Error Date: 2/21/2001 1:09 PM
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I received my W-2 form and noticed that about half the numbers on it did not agree with my last pay stub. Checking with my employer, they agreed there was an error, blamed it on the new payroll company and said it happened to a few poeple.To make matters worse, my company is on Chapter 7 and is expected to close in about 2 weeks so I do not see them issuing me a new W-2 in this lifetime.

What do I do as far as tax filing goes? Am I more vulnerable to an audit? I beleive I should should just stick with the numbers on my last pay stub when filing my 1040 this year.
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Author: LNBCHIP Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 46915 of 121256
Subject: Re: W-2 Form Error Date: 2/21/2001 5:42 PM
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The IRS does form matching on all W-2's. So, if the amount on your tax return does not agree to the W-2 you will get a letter from the IRS "correcting" your return amounts reported.

Your best bet would be to report the correct amount on the tax return and attach a schedule showing the amounts reported on the W-2 and how those amounts should be adjusted to the actual totals. A note on this schedule describing the situation would help too. Just write in "See Attached Schedule" on line 7 of the 1040. Another option would be to give the IRS a call and describe the situation to them and get their advice. However, it will take hours on hold to get to talk to an IRS Representative this time of year.

Good Luck!

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Author: BuffaloMG One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47044 of 121256
Subject: Re: W-2 Form Error Date: 2/23/2001 2:33 PM
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Thanks! I checked the IRS web site and there is a form to file (of course!0and a proceudre to follow. Unfortunately it onvolves calling them. Well, my cable modem croaked and I have to wait for the cable compnay from 8-5 on Tuesday - so I guess I can be on hold with the IRS while I wait for the cable guy!!!

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Author: 1937Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47140 of 121256
Subject: Re: W-2 Form Error Date: 2/24/2001 11:48 PM
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Don't be overeager about paying taxes based on your
pay stub. Be certain that they show your Taxable
Wages which could be much less than your Gross Wages
if you had deductions for a 401K, or an approved
medical benefits plan. Your state taxable wages
could differ from the federal taxable ones because
each state treats 401K and medical benefits deductions
differently. Good Luck.

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