When Do the Military W2s Come Out?
As a military employee, you’re likely accustomed to receiving your W2 forms around the same time every year. But, have you ever wondered exactly when those forms are officially released? In this article, we’ll dive into the details and provide you with a clear answer to the question: When do the military W2s come out?
Understanding W2 Forms
Before we dive into the specifics, let’s briefly discuss what W2 forms are. A W2 form, also known as a Wage and Tax Statement, is a document used by employers to report the wages and taxes withheld for each employee. The IRS requires employers to provide these forms to their employees by January 31st each year.
Military Pay and Taxes
As military personnel, your pay and taxes are handled differently compared to civilian employees. Military pay is considered taxable income, and you’re responsible for paying federal income taxes on your earnings. Your employer, the military, withholds taxes from your pay and submits them to the IRS on your behalf. This process is similar to how civilian employers handle payroll taxes.
When Do Military W2s Come Out?
Now that we’ve covered the basics, let’s get to the main question: When do military W2s come out? Typically, the military W2 forms are released in late January to early February. This is because the military has to process and reconcile the pay and tax records for the previous year before issuing the W2 forms.
Here’s a general timeline to expect:
• Mid-January: The military begins processing W2 forms and reconciling pay and tax records.
• Late January to early February: W2 forms are mailed to military personnel or made available online through MyPay.
• By January 31st: The IRS requires employers (including the military) to provide W2 forms to employees.
How to Access Your Military W2 Form
You can access your military W2 form in a few ways:
• MyPay: Log in to your MyPay account to view and print your W2 form. You can also sign up for electronic delivery of your W2 form to receive it via email.
• Military Pay Records: Check your military pay records or contact your Payroll Office to request a copy of your W2 form.
• Federal Benefits Group: If you’re part of the Federal Benefits Group (FBG), you can access your W2 form through their website.
Important:
• Verify your address: Ensure your mailing address is up-to-date to receive your W2 form in the mail. You can update your address through MyPay or your local Personnel Office.
• Keep a copy: Save a copy of your W2 form for your records. You may need it for tax purposes, such as filing your income tax return.
When to Expect Your Military Taxes Refund
If you’re expecting a tax refund, here’s a rough estimate of when you might receive it:
• February to April: Tax refunds are typically processed by the IRS between February and April.
• Note: The IRS may hold refunds for military personnel until their W2 forms are processed and verified.
Conclusion
In summary, military W2 forms typically become available in late January to early February. Be sure to check your MyPay account, military pay records, or contact your Payroll Office to access your W2 form. Remember to verify your mailing address and keep a copy of your W2 form for your records. Stay informed, and happy filing!
