5 Things to Check on Your W2

With the April 15 tax-filing deadline fast approaching, now is a good time to review your W2. If you simply filed it away when you received it in January, pull it out and take a few moments to check the following five areas, advises PayrollOrg:

1. Verify personal information. 

Ensure the accuracy of your personal information. Verify that your name, address and social security number on Form W-2 are correct. Discrepancies could delay processing or cause issues with your tax return. Contact your payroll department promptly if any information needs to be corrected.

2. Know your contributions and deductions. 

Review these three key items on your W-2:

- Box 1 will differ from your final 2024 paystub year-to-date gross pay if you participated in a 401(k) or other employer-sponsored savings plan.

- The Box 3 total should not exceed $168,600 – the 2024 social security wage base.

- Boxes 1, 3 and 5 will be different from your 2024 year-to-date gross pay if you used pre-tax dollars to pay for insurance premiums, transit benefits, or contributions to flexible spending accounts.

3. Watch for multiple forms W-2. 

You should have received a Form W-2 from each employer you worked for in 2024. If you have not received your W-2 forms, contact the company's payroll department to request a "reissued statement." 

4. Review available tax credits. 

You may qualify for thousands of dollars through the Earned Income Tax Credit, depending on your eligibility. Check the back of your W-2 Copy B to see if you qualify or visit IRS.gov/EITC for more information.

5. Don't overpay your taxes. 

If your refund is larger than expected, you can update your Form W-4, Employee's Withholding Certificate. Modifying your W-4 can reduce the amount of taxes deducted from each paycheck, giving you an instant raise. Complete a "paycheck checkup" using the IRS's Tax Withholding Estimator.

 

Reprinted with permission from RISMedia. ©2025. All rights reserved.

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