W2 form ( Wages and Tax statement) is an important aspect of most taxation procedures in the United States used for tax return reporting salaries and tax statements for the year entailing withheld earnings from the employer. It is used to monitor total income yearly which can be gotten from organizations or institutions you are involved in for proper documentation. This article is all you need to know about W2 and how you can get it from your college. Lets know How To Get W2 From College.
To get the W2 form from your college, there are certain preparations to put in place before getting the form. You can either decide to get it on paper online, whichever way the processes are similar. To get this form, you can get the IRS form and 1098-T form from your college.
More details on how to get this form from your college are explained below.
Steps To Get Your W2 From College
- Create an account with the Internal Revenue Service (IRS)
- Get the 1098-T form printed from your college student center
- Submit the 1098-T form to the IRS
- Print your W2 form electronically or online from the IRS site
- Create an account with the IRS: This is the income service for the United States government, which is credible for receiving taxes. To open an IRS account, there are things to put in place which are: your mailing address, valid email address, US passport or any means of identification, phone registered in your name, social security and identification number. After all these have been kept into order, you log into the IRS site. https://www.irs.gov/pub/irs-pdf/p5507.pdf. Click on the link above, click “View Your Account” then select “Log in to your Online Account” button, select “Create Account”, make sure to pass the secure access authentication. Individuals must be able to authenticate their identity to continue to set up an account and finally Create a profile with the IRS.
- Get the 1098-T form from your college student center: This form provides information from educational organizations to students which may be of use in assuming a student’s eligibility for tax credits and each student is entitled to receive a copy of ose 1098-T form by their college yearly. In order to get this form, students will log in to their student center page with necessary details, select view 1098-T button below under student finances, then grant consent to access it by printing electronically or online access, with this you have successfully gotten your 1098-T form from your college via school page
- Submit the 1098-T form to the IRS: Submitting your 1098-T form to IRS is quite an easy step in that all you have to do is after getting your 1098-T form from your college, then file for a copy to the IRS so they can help process your W2 which usually happens every year around February
- Print your W2 form directly from the IRS site either by printing or online access: To get your official IRS information return such as the Form W-2, which contains a scannable Copy A for filing, go to IRS’ Online Ordering for Information Returns and Employer Returns page which is your college or visit the page below for more information.
How Important Is The W2 For College Students?
At the end of every year, each business in the United States must send Form W-2, generally known as the Wage and Tax Statement, to each employee and the IRS. If you are a college student currently in your first year, now is the time to start thinking about how to file for your taxes on your own and whether or not your college tuition is deductible through tax.
Combining the US tax system while adding class work, jobs, and student loans can be really tasking. The W-2 form is one of the most significant tax income forms in the US that you should have as an employee.
The W2 form covers all of the income you have received from your employer and more. Employees annual salary and the amount of taxes deducted from their paychecks are reported on a W-2 form. A W-2 employee is someone whose employer deducts taxes from their paychecks and reports them to the IRS.
In as much as college students might not really be referred to as working class yet, some college students are employed in school, loans, grants, etc all these are needed for proper documentation of the residents in the US to monitor your tax information, income, loans, grants and more.
Benefits Of Getting The W2 Form As A College Student
If you are in or out of the college, some benefits of acquiring the W2 tax form are: it helps in taking education credits, tax breaks, free and affordable services to help students with tax, it is cheaper and easier to get in college than after college, monitoring your tax in case of unreliable employer and the right to claim tax credits earlier.
Conclusion
I hope you have been able to learn more about the W2 form and how important it is to you as a college student in getting your tax information record in the US, so you can start taking the necessary procedures to get yours from your college whether you are still a student there or not.
Questions
- Do all colleges follow the same procedure of getting the W2 form?
All colleges might not necessarily follow exact procedures but similar, that is why the guidelines above are to guide you on the processes.
- Can an international student in the US request for a W2?
An international student in college for at least a year is eligible to request for a W2.
- What if I am not working yet as a student, can I request for W2 in college?
You can request for a W2 so far you are on loans, grants, employed, scholarships and many more.
- Can I use a phone not registered in my name to request for W2 in college?
No, you must use a phone registered in your name to request W2.
