Filing Taxes is one of the most stressful jobs. You need to dig into the pile of documents for filing the tax. However, you can File taxes with last pay stub on TurboTax and save your precious time. TurboTax software is highly professional and efficient in filing taxes. The platform simplifies the filing process so that you can quickly file the tax. It is an inevitable yearly event.
Most people hate the tax filing process due to its complexity. When you are filing the taxes by yourself, you need a list of essential documents that are required at the time of filing the tax.
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In this blog, we have tried to answer some of the frequently asked questions of taxpayers, like can we file taxes with the last pay stub on TurboTax or how to file the tax without the last pay stub? Let us read the blog.
Can We File Taxes With the Last Pay Stub on Turbo Tax?
Turbo Tax, being the most popular tax filing software, allows you to file your taxes with the last pay stub. The last pay stub contains all the necessary information that is required to fill out your taxes. It contains information like gross wages, social security numbers, employer’s provided health insurance numbers, federal tax deductions, and net pay.
Many employers fail to provide the W2. At such time the last pay stub came as a rescuer. However, the W2 is an important document that must be provided by the employer. In order to file your tax by using your last pay stub, you need to fill the form 4852. The last tax pay stub ensures error-free tax filing and helps in calculating the paycheck taxes.
How to File Taxes With Last Pay Stub on Turbo Tax?
The tax filing process by using the last pay stub is also known as e-filing and is a legal process. If you are not having your last pay stub, you can generate it online. The last pay stub gives you a clear picture of what you owe and how much refund you can get after filing the tax.
If you want to file taxes with your last pay stub on TurboTax and are looking for the process, then the below-mentioned process might help you. The steps involved in the tax filing process are as follows:
- First, go to the TurboTax official website InstallTurbotax com.
- Choose one option among the three options – tax filed by an expert, take advice from an expert, or file taxes by yourself, and TurboTax will guide you.
Option 1: Tax Filed by an Expert
If you choose this option, then the legal expert will handle the entire tax filing process without your contribution. You can hire an expert to fill your business or your personal taxes. The legal expert will be dedicated to you throughout the year. An expert will work with you in real-time.
Before signing the tax, they completely review it and file only when it is 100% correct, and you will get the best possible outcome. There are three packages that best suits your requirements. The packages are as follows:
- Full Service Basic.
- When you want a simple tax return only, you can opt for this package.
- Full-Service Deluxe.
- If there are donations, house deductions, or there is unemployment income, then this package best suits you.
- Full-Service Premium.
- The package is suitable for investors and the self-employed.
Option 2: Take Advice from an Expert.
In this option, you can connect with the live tax expert on demand while filing the taxes. The expert will guide you in filling out the IRS forms in order to avoid errors. Once you fill out the tax forms, an expert from Turbot Tax will review your forms so that you can get the best possible return.
They will check whether you have filled your income & wages correctly, rightly acclaimed the deductions and credits, and correctly filed your tax returns and other taxes like state and federal. You can take advice from an expert in filing business or personal taxes.
This option has three packages available, and you can choose one that best fits your requirement and budget. The packages are:
- Assisted Basic.
- You can choose this when you want a simple tax return only.
- If there are deductions for Home, donations, or you receive unemployment income, you can choose this package.
- This package best suits investors and self-employed persons.
If you choose this option, you must only pay when you file the taxes.
Option 3: Filing Taxes by Yourself
In this option, you file the tax all by yourself. The Turbo Tax will guide you only by answering some of your simple tax-related questions. Once the user snaps and uploads the W2 photo or 1099-NEC, the software will accurately place the information in the right place. It saves you time by simply importing the required documents from your employer.
How to Enter the Tax Information From the Last Pay Stub?
When filing a tax return, one crucial thing is correctly entering the information in the IRS forms. The last pay stub uses the automatic calculator and calculates the taxes as per your state. You can directly file the information in the IRS forms without having to worry about errors.
The information required to file taxes with the last pay stub on Turbo Tax includes the following:
- Official Name
- Correct Address
- Social Security Number
- Company’s Name, Address, Zip code, and TIN number.
- Salary or W 2 Wages
- State/Local/ Federal income tax withheld
Can I File my taxes Without W 2 Form?
The W2 form is an important document that the employer provides. It contains all the necessary information. However, you can not file your tax return without the W2. You may use the last pay stub to collect the necessary information. However, the IRS does not recommend the last pay stub as an accurate statement of one’s annual income.
It may lack some pivotal information that is required for filing the tax. The missing or inaccurate information may result in an amended return that finally costs you more fees and a late return from IRS.
Filing taxes may not be the most interesting task; however, it needs to be filled out annually. The tax filing process is time-consuming and hectic, and there is a plethora of documents required at the time of filing. Though, you can file taxes with last pay stub on TurboTax and save your precious time. Moreover, Turbo Tax simplifies the tax filing process for you so that you can easily and quickly file your taxes.