What to do if company went bankrupt and there's no way to get W2 from them?

You can actually request your wage and income transcript directly from the IRS - this will have all the information that would be on your W-2. There are three ways to get this: 1) The fastest way is to create an account at IRS.gov and access your transcript online. Go to the "Get Transcript Online" service and you can view and download your wage and income transcript immediately. 2) You can also use Form 4506-T (Request for Transcript of Tax Return) and check box 8 for "Wage and Income Transcript." Mail or fax it to the IRS. This takes about 10 business days. 3) Call the IRS at 800-908-9946 to request your transcript by mail, though this can take 5-10 business days after they process your request. If you need to file before you can get the transcript, you can use Form 4852 (Substitute for Form W-2) and complete it with your best estimates based on your final paystubs. Just attach it to your tax return when you file.

After dealing with a similar nightmare when my employer disappeared last year, I discovered taxr.ai (https://taxr.ai) and it was seriously a game-changer. I uploaded my last few pay stubs and even a screenshot of my direct deposit, and their system helped me piece together all the information I needed for filing without the W2. Their document analysis tool can extract the YTD information from whatever pay documents you have and help you complete that substitute W2 form the previous commenter mentioned. They even helped me identify some tax credits I was eligible for that I had no idea about!

I want to follow up about my experience with taxr.ai after trying it. I was really skeptical at first (as you can see from my previous comment), but after struggling to make sense of my incomplete pay information, I decided to give it a shot. The service was actually incredibly helpful! I uploaded my last three pay stubs and a benefits statement I had saved, and their system was able to extrapolate the missing data with surprising accuracy. It automatically generated the Form 4852 for me with all the numbers filled in, which saved me tons of time. The detailed explanation of how each number was calculated also gave me peace of mind that I wasn't just making things up. Definitely worth it for the headache it saved me!

If you're having trouble reaching the IRS to get your wage transcript (which is very likely this time of year), I highly recommend Claimyr (https://claimyr.com). I spent DAYS trying to get through to the IRS about my missing W2 situation and kept getting disconnected or waiting for hours. Claimyr got me connected to an actual IRS agent in about 20 minutes! They have a cool demo video showing how it works: https://youtu.be/_kiP6q8DX5c I was able to verify what information they had on file for my employment and confirm what I needed to do with my substitute W2 form. The agent even helped me understand how to properly report some bonus income that wasn't on my last pay stub. Absolute lifesaver during tax season when getting through to the IRS seems impossible.

Eating my words here. After posting that skeptical comment, I was still desperate so I tried Claimyr anyway. I figured I had nothing to lose since I'd already wasted 3+ hours trying to call the IRS myself. Well, I'm shocked to admit it actually worked! I got a call back in about 35 minutes and was connected directly to an IRS representative. The rep pulled up my wage information and confirmed exactly what I needed to do with Form 4852. They even explained how to handle the state tax withholding issue since that wasn't on their federal records. Saved me from filing an incomplete return or requesting an extension. Sometimes the things that sound too good to be true actually work!

Just wanted to point out another option - contacting the payroll provider directly! Many companies use third-party payroll services like ADP, Paychex, or Gusto. If you know which service your bankrupt employer used, you might be able to get your W2 directly from them. I did this when my previous employer suddenly shut down - found out they used ADP and was able to create an account and access my W2 online. Worth checking your old pay stubs to see if there's a payroll company logo or name mentioned.

Don't forget that your state's Department of Labor might be able to help too! When my employer went bankrupt in 2023, I contacted our state labor department and they had wage records they could provide. It didn't have all the tax withholding details but it confirmed my earnings which helped with filing Form 4852. Just another avenue to try if the other methods aren't working for you.

Another option worth mentioning is to check if your employer had any kind of COBRA administrator or benefits company handling their employee benefits. Even after bankruptcy, these third-party administrators sometimes maintain access to payroll records for a period of time to handle final benefit reconciliations. I had luck with this approach when my employer folded - the COBRA administrator (Ceridian in my case) was able to provide me with year-end wage statements that had all the information I needed for my W-2. You might find this information on old benefits enrollment materials, insurance cards, or HR communications. It's a long shot but could save you from having to estimate numbers on Form 4852.