Corrected W-2

Discussion in 'UPS Discussions' started by newarkster, Jul 26, 2015.

  1. newarkster

    newarkster Member

    I received a nda envelope on Friday from UPS payroll that had a corrected W-2....... from 2013. Are you kidding me? And the letter that accompanied it said I will need to ammend my return. Did this happen to anyone else or am I just lucky?
     
  2. Not me
     
  3. upschuck

    upschuck Avatar bet gone wrong

    You're lucky, I guess.
     
  4. Twss
     
  5. MendozaJ

    MendozaJ Active Member

    Only if the amended return results in a refund.
     
  6. newarkster

    newarkster Member

    According to the W-2, the correct gross income dropped by just under $800. I guess I should look into it because I would get back a few bucks.
     
  7. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Do you prepare your own taxes? If so, do you use tax software? If you do it is very easy to amend a saved return.

    Amended returns cannot be e-filed and any refunds take a long time to show up in your checking account.
     
  8. By The Book

    By The Book Well-Known Member

    Did your amount of taxes paid change as well?
     
  9. newarkster

    newarkster Member

    Yes I did my own at home. I will look into it but really hate the fact that I have to waste my time because of UPS'S error.
     
  10. newarkster

    newarkster Member

    No, just the income... SS taxes paid... and Medicare taxes paid.
     
  11. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    It takes less than 5 minutes to amended a return completed with tax software.
     
  12. By The Book

    By The Book Well-Known Member

    I would call a tax professional(H and R Block maybe). Did you research where the error occurred? Does your last paystub match the new W-2?
     
  13. brownmonster

    brownmonster Man of Great Wisdom

    Happened to me years ago when I still used an accountant. I got the NDA letter with no explanation. Accountant sent an amended return. Cost me 85 bucks. Called the local and UPS paid it.
     
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  14. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    There is no need to call a tax professional. Simply compare your last pay stub of 2013, which can be found on upsers, with your original and corrected W-2's. The differences should be limited to gross income, federal and state taxes. You then go to your tax software, open up the federal return for that year, open up your W-2, update the figures and calculate the difference in your refund to see if it is even worth filing the amended return.

    If you choose not to amend your return the IRS will do it for you and will either send you a check or a bill.
     
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  15. MendozaJ

    MendozaJ Active Member

    I think the only way you get a refund is if the -$800 drops you below the threshold of your tax bracket for 2013. There's also the case of the -$800 qualifying you for the Earned Income Tax Credit, a remote possibililty if you're a PT loader, or somewhere along that line of work (the $10-11/hr guys). You don't need a professional.