Taxes 101 Don’t Let Filing Multiple W-2s Scare You Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by TurboTaxBlogTeam Published Jan 16, 2024 - [Updated Apr 3, 2024] 3 min read Reviewed by Katharina Reekmans, Enrolled Agent According to the United States Census Bureau, 13 million Americans had more than one job in 2019, and with the side-gig economy’s boom since, we know this number has only increased in recent years. More Americans need supplemental income, they have the desire to increase their skill set, or there is an inclination to explore different interests. If we add in the population of people who changed jobs, there is a sizable number of people who find themselves with two or more W-2s at tax time. Submitting Your W-2s is Simple Rest assured, any and all anxiety or apprehension around entering more than one W-2 is eliminated with TurboTax! There is a good chance you may be able to import your W-2 directly from each employer by entering the Employer ID Number (EIN) from Box – b on your form. You can also enter your W-2s in the Wages & Income section of TurboTax. TurboTax will simply ask you: “Do you have another W-2 to enter?” Click ‘yes’, and you’re on your way. You can also jump-start your taxes by snapping a photo of your W-2 with the TurboTax mobile app or with free import and transfer of your tax return information giving new and returning customers up to a 50% head start while eliminating data entry. How Multiple Jobs Impact You and Your Withholding When you have more than one job, you may have the right amount of taxes withheld which will show up on your W-2, but be sure to check that you are withholding the right amount of taxes, especially with tax law changes under tax reform. If you had two jobs but not at the same time, say one for 5 months, a layoff, and the next job for 6 months, your withholding was probably enough, as the amount withheld was based on two jobs held at two different times the entire year. On the other hand, if you have two jobs concurrently, there’s a chance you may need to have more taxes withheld since you have dual income. Whenever you have a change in income, a life change, multiple jobs, or a new job, you should always revisit your W-4 withholdings and fill out a new Form W-4 for your employer so they know how much taxes to withhold from your paycheck. The IRS has a new Form W-4 Employee’s Withholding Certificate starting with your 2020 taxes (the ones you likely filed in 2021) to help you adjust your federal tax withholding. Now is a good time to do a paycheck check-up and adjust your W-4 withholdings whether you want a bigger paycheck or refund at tax time, especially if you didn’t have the tax outcome you were expecting. We’ve Got You Covered Don’t worry about knowing tax laws. No matter what moves you made last year, TurboTax will make them count on your taxes. Whether you want to do your taxes yourself or have a TurboTax expert file for you, we’ll make sure you get every dollar you deserve and your biggest possible refund – guaranteed. Get started Previous Post How Bonuses Are Taxed: A Complete Guide Next Post Moving from Employee to Self-Employed? Here’s What it Means to… Written by TurboTaxBlogTeam More from TurboTaxBlogTeam 5 responses to “Don’t Let Filing Multiple W-2s Scare You” If they’re are 2 different forms can they be filed separately if they come in at different times??? This was my first time filing my W-2 form and I had three jobs last year, so I figured that I’d file the first one when it came in and I already submitted it and everything and now I don’t know how, or if I can, file the other two. i just received my w2 from my current company and my previous company wont send em out till mid to late feb. can I file one first and the other later? any info would be greatly appreciated. i have the same question i hope he answers! I do tax for more than 40 people and looking for software with turbo tax that allows me to do income tax as a preparer for my own business Browse Related Articles Crypto Understanding Crypto and Capital Gains Work 7 Things You Need to Know About the New Business Report… Work Using Form 8829 to Write-Off Business Use of Your Home Tax Tips Roth 403(b) vs. Roth IRA: Which Should You Invest In? Life Interest Rates, Inflation, and Your Taxes Investments Essential Tax Tips for Maximizing Investment Gains Uncategorized TurboTax is Partnering with Saweetie to Elevate Hoop Dr… Business Small Business Owners: Optimize Your Taxes with a Mid-Y… Small Business The Benefits of Employing Your Children and the Tax Bre… Income and Investments Are Olympics Winnings Taxed?
This was my first time filing my W-2 form and I had three jobs last year, so I figured that I’d file the first one when it came in and I already submitted it and everything and now I don’t know how, or if I can, file the other two.
i just received my w2 from my current company and my previous company wont send em out till mid to late feb. can I file one first and the other later? any info would be greatly appreciated.
I do tax for more than 40 people and looking for software with turbo tax that allows me to do income tax as a preparer for my own business