As a Walmart associate, one of the most important documents you‘ll need every year is your W-2 form. This small but mighty piece of paper packs a big punch – it‘s essential for filing your taxes accurately and getting your hard-earned refund.
In this ultimate guide, we‘ll cover everything you need to know about W-2 forms from Walmart – from what they are and why they matter to how to get yours stress-free. By the end, you‘ll be a W-2 wiz!
Understanding the W-2 Form
Before we dive into the specifics of getting your W-2 from Walmart, let‘s review what exactly this form is and why it‘s so critical.
What is a W-2?
Officially known as the Wage and Tax Statement, the W-2 form is a document prepared by your employer that reports your annual earnings and the amount of taxes withheld from your pay during the year. Employers are required by law to send a W-2 to each employee as well as the Internal Revenue Service (IRS) and Social Security Administration (SSA).
Why is the W-2 important?
You need the information on your W-2 to file your federal and state income tax returns each year. The form shows how much you earned from that employer and the taxes you already paid, so you can determine if you owe additional taxes or will receive a refund.
The SSA also uses the information on your W-2 to track your earnings over your working lifetime and determine your eligibility and benefit amounts for Social Security and Medicare. Your W-2 is proof of your work history and earnings record.
When should I receive my W-2?
The IRS requires employers to furnish W-2 forms to employees by January 31 each year. This means Walmart must have W-2s to associates by this deadline via mail or online access.
If you haven‘t received yours by early February, first check to see if it‘s available electronically. If not, reach out to your manager or HR department right away, as the longer you wait, the longer it will take to resolve the issue.
How many W-2s does Walmart process?
As the nation‘s largest private employer, Walmart provides W-2 forms to over 1.6 million associates in the US each year. That‘s a whole lot of tax documents!
To handle this incredible volume, Walmart starts preparing W-2s well before the January 31 deadline to ensure every associate gets theirs on time. It‘s a massive undertaking that requires coordination between payroll, HR, and accounting teams.
Getting Your Walmart W-2
Now that you know the basics of the W-2, let‘s get into the nitty gritty of how to actually obtain yours from Walmart. There are a few different ways to access your form depending on your current employment status with the company.
For current associates
The quickest and easiest way for active Walmart associates to get their W-2 is by logging into the OneWalmart employee portal online:
-
Go to one.walmart.com and sign in with your Walmart username and password (the same credentials you use to view your pay stub and enter your time off requests).
-
Under the Me@Walmart tab, select My Money.
-
Click the Tax Center link.
-
In the Tax Center, look for the link to view and download your W-2. The form should be available to access online starting in mid-January.
-
You can choose to view your W-2 in PDF format or opt to have a paper copy mailed to your address on file. There is also an option to receive it electronically in your W-2 ePostal mailbox.
Opting for electronic delivery is a smart choice – it‘s faster, more secure, and better for the environment than snail mail. Plus, you‘ll have a digital copy for your records that‘s easy to store and access when needed.
For former associates
If you left your role at Walmart in the last year, you‘re still entitled to receive a W-2 for any portion of the year you were employed. But the process to get it is a little different:
-
If you separated from Walmart on good terms and still have access to OneWalmart, try logging in and checking the Tax Center first – your W-2 might be available there just like for active associates.
-
If you can no longer access OneWalmart, go to mytaxform.com. Select Walmart as your employer, then enter the employer code 10108. Answer the security questions to verify your identity, and you should be able to view and download your W-2. Keep in mind there is a small fee for this service.
-
You can also contact your former store or club‘s payroll department directly and request that they mail a copy of your W-2 to you. Be prepared to provide your full name, Social Security number, employee ID number, and dates of employment to verify your identity.
-
If you worked at multiple Walmart locations during the year, you may receive separate W-2s from each or they may be combined into one form. Make sure you obtain all W-2s necessary so your tax filing is complete.
If you don‘t receive your W-2 by mid-February, follow up with Walmart right away. The sooner you alert them to the issue, the faster it can be resolved.
What to Do with Your W-2
Once your W-2 is in hand, it‘s crucial to review it carefully for any errors or discrepancies. Mistakes on this form can lead to issues with your taxes, so it‘s important to confirm all the information is correct before filing.
Some common errors to double check for:
- Is your name spelled correctly and does it match your Social Security card? Even a small variation can cause problems.
- Is your address current? This impacts where your tax refund and other IRS correspondence will be sent.
- Is your Social Security number accurate? A wrong digit here can really throw things off.
- Do the wages reported seem correct based on what you earned? Compare the figures to your last pay stub of the year.
- Are the federal, state, and local taxes withheld properly? Too much or too little withholding can affect your refund or amount owed.
If you spot any errors, let your payroll department know right away so they can issue a corrected W-2 (called a W-2c). If the mistake is in your name or Social Security number, you may need to update your information with the Social Security Administration as well.
It‘s also smart to compare your final pay stub of the year to your W-2. The year-to-date earnings should match what‘s in Box 1 of the W-2. If not, do some digging to figure out why. It could be a mistake that needs correcting before you file.
When you have your accurate, complete W-2, it‘s time to start preparing your tax return (or gather your forms to send to your tax preparer). Always keep a copy of your W-2 with your tax records in case you get audited or need to reference it later. It‘s a good idea to keep tax documents for at least 3-7 years after filing.
What Happens if You Don‘t Get Your W-2
So what should you do if January 31 has come and gone and your W-2 is still MIA? Don‘t panic – there are steps you can take to get the form or file your taxes without it.
Contact Payroll
First, reach out to your store or club‘s payroll department and let them know you did not receive your W-2. They should be able to pull your form and resend it fairly quickly. Make sure they have your correct mailing address on file.
Contact the IRS
If you don‘t get a prompt resolution from your Walmart payroll team, call the IRS at 1-800-829-1040. Let them know you didn‘t receive your W-2 and be prepared to provide:
- Your name, address, phone number and Social Security number
- Your employer‘s name, address and phone number
- An estimate of your wages and federal income tax withheld (you can use your last pay stub to calculate)
The IRS will contact Walmart on your behalf and request they furnish your W-2 within 10 days. While you wait, go ahead and file your taxes with Form 4852 as a substitute W-2 so you don‘t miss the filing deadline – you can always amend your return later if needed.
Request an Extension
If you still don‘t have your W-2 by the April tax deadline, file Form 4868 to get a six-month extension. However, if you owe taxes, you‘ll still need to estimate what you owe and pay by the April deadline to avoid penalties and interest.
Interesting W-2 Facts & Statistics
To wrap up, let‘s look at some fascinating facts and figures related to W-2s, taxes, and Walmart:
-
The deadline for employers to file W-2s with the Social Security Administration is January 31. If they miss it, they can face penalties of $50-$270 per late W-2, depending on how late it is.
-
In a recent year, over 90% of W-2s were filed electronically with the SSA. The agency received nearly 267 million W-2s total.
-
The IRS expects to receive over 150 million individual tax returns this year. Last year, the average refund was $2,775.
-
The IRS receives thousands of fake tax returns each year involving identity theft and stolen W-2 information. That‘s why it‘s so important to keep your W-2 secure and report any suspicious activity.
-
Walmart employs 1.6 million associates in the US and 2.3 million worldwide, making it the largest private employer in the world. If Walmart were a country, it would be the 24th most populous in the world!
-
Walmart‘s US associates earn an average of $14.76 per hour. A full-time associate working 40 hours a week earns a little over $30,000 per year before taxes.
-
During fiscal year 2019, Walmart‘s total revenue was $524 billion – that‘s more than the GDP of countries like Belgium, Poland, and Saudi Arabia.
Remember, your W-2 is one of the most important financial documents you‘ll receive all year. Taking the time to understand it, access it promptly from Walmart, and review it carefully will help ensure smooth sailing when it‘s time to file your taxes.
We hope this guide has equipped you with everything you need to master your W-2! For more tax tips and financial guidance, check out the Walmart OneWire portal and associate resource center.
