When do I get W2 Forms from my Summer Internship at the bank?

Thanks for this info! I was worried I missed something since I haven't received anything yet. Do I need to do anything special to request the W-2 or will they automatically send it? And what happens if I don't receive it by the end of January for some reason?

They will automatically send it - you don't need to request it. They're legally required to provide it to all employees who received wages. If you don't receive your W-2 by February 15th, first contact the bank's HR or payroll department. They can usually resolve this quickly. If that doesn't work, you can contact the IRS at 800-829-1040, and they'll reach out to the employer on your behalf. The IRS might also send you Form 4852 (a W-2 substitute) that you can fill out using your final pay stub if necessary.

Does this actually work for internships specifically? My situation is a bit different because I had a campus job during spring semester, then the summer internship, and now another campus job. Not sure how to handle multiple W-2s from different places.

I'm always skeptical of tax sites... how does this compare to just using something like TurboTax? Is it worth checking out if I already have access to tax software through my university?

It works for any job situation including internships. The platform is really good at explaining how multiple W-2s work. You'll get a separate W-2 from each employer, but the tool helps you understand how to report all of them correctly on your tax return. The difference from TurboTax is that this helps you understand what to expect before you get your forms and can answer specific questions about your situation. It's more educational rather than just plugging in numbers. I found it helpful to use this first to understand everything, then used my university's free tax filing software after I had all my documents.

Wait how does this actually work? Do you give them your personal info? Seems sketchy to have a third party involved when dealing with the IRS...

Yeah right. No way this actually gets you through to the IRS faster. I spent 5+ hours on hold last year and eventually gave up. Nothing can fix the IRS phone system - it's designed to be impossible.

They don't need any of your personal tax info - they just hold your place in line. It's like having someone wait in a physical line for you. When they reach an agent, they connect the call directly to you. You don't discuss anything tax-related until you're directly connected with the IRS agent. I was super skeptical too, but it really worked. It's not a magic solution to fix the IRS, they just developed a system to navigate the phone tree and wait on hold so you don't have to. I was connected to an agent in about 2 hours without having to actually sit by my phone the whole time. They called me when they were about to connect me.

Is there a specific calculator online that's good for estimating this? I worked two different internships last summer and I'm trying to figure out if I'll owe money or get a refund.

The IRS has a tax withholding estimator on their website that's pretty accurate. You'll need your pay stubs from both internships showing how much you earned and what was withheld. If you're a student and your parents still claim you as a dependent, make sure to indicate that on the calculator since it affects your standard deduction. For most summer-only internships where you make under $12,950 for the year (2024 standard deduction amount), you'll likely get most or all federal taxes refunded unless you have other income sources.

Yes, you'll likely need to file both a New York nonresident tax return and an Ohio resident return. New York will tax the income you earned while working there, and Ohio will want to tax all your income but should give you a credit for taxes paid to New York to avoid double taxation. Multi-state returns can get complicated. I'd recommend using tax software that handles multiple states or talking to your university's financial aid office to see if they offer free tax help for students.

Thanks for the info! That makes sense. I was worried about being double-taxed. I'll check with my school's financial aid office to see if they have resources for students with internships in different states.

This is such helpful advice! I had no idea schools offered free tax prep services. I'm definitely going to look into the VITA program at my university - having someone who understands student/internship situations would be perfect since this is all new to me. And thanks for the reassurance about timing! I've been seeing all these tax prep ads already and started panicking that I was behind on something. Good to know that thinking about it early is actually a good thing rather than me missing some deadline. Did the VITA volunteers help you understand how the work-study income gets reported differently than regular employment income? I have both types of jobs this year too and wasn't sure if there were any special rules.