Why Use Your Last Check Stub?
Your last check stub is a valuable resource when it comes to filing taxes. It contains a wealth of information that the IRS requires, including your:
- Social Security number
- Name and address
- Employer’s name and address
- Wages earned for the year
- Federal and state income taxes withheld
- Other deductions
Using your last check stub ensures that you have all the necessary information on hand to file your taxes accurately and on time.
What Information to Look For
The following is a breakdown of the key pieces of information you need to find on your last check stub:
- Box 1: Wages, Tips, Other Compensation – This is the total amount of money you earned from your employer during the year.
- Box 2: Federal Income Tax Withheld – This is the amount of federal income tax that was withheld from your paychecks throughout the year.
- Box 3: Social Security Tax Withheld – This is the amount of Social Security tax that was withheld from your paychecks throughout the year.
- Box 4: Medicare Tax Withheld – This is the amount of Medicare tax that was withheld from your paychecks throughout the year.
- Box 5: State Income Tax Withheld – This is the amount of state income tax that was withheld from your paychecks throughout the year.
- Box 6: Name – This is your full name.
- Box 7: Address – This is your current address.
- Box 8: SSN – This is your Social Security number.
- Box 9: Employer Name – This is the name of your employer.
- Box 10: Employer Address – This is the address of your employer.
How to File Taxes Using Your Last Check Stub
Once you have gathered all the necessary information from your last check stub, you can begin the process of filing your taxes. There are a few different ways to file taxes, including:
- Using a tax software – Tax software can guide you through the process of preparing and filing your taxes. There are a variety of tax software programs available, both free and paid.
- Hiring a tax preparer – If you are not comfortable filing your taxes on your own, you can hire a tax preparer to do it for you. Tax preparers can help you gather all the necessary information, prepare your tax return, and file it with the IRS.
- Filing online – You can also file your taxes online using the IRS website. The IRS provides a free online tax filing service called Free File.
Conclusion
Filing taxes can be a daunting task, but it is important to file your taxes accurately and on time. Using your last check stub can help you ensure that you have all the necessary information to file your taxes correctly. By following the steps outlined in this guide, you can file your taxes with confidence.
Additional Tips
- Gather all of your tax documents – In addition to your last check stub, you will need to gather all of your other tax documents, such as your W-2s, 1099s, and any other documents that show your income and deductions.
- Use a tax organizer – A tax organizer can help you keep track of all of your tax documents and information.
- File your taxes early – The sooner you file your taxes, the sooner you will get your refund.
- Get help if you need it – If you are not comfortable filing your taxes on your own, you can get help from a tax software program, a tax preparer, or the IRS.
