SEP IRA

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Question: Does the last paystub of the year match the w2?

I have my last paycheck stub of the year, received 12/20/2006. I was wondering if it will be the same as my w2. I don’t pay into an IRA or 401K, my taxes are very straight forward and simple. I don’t even pay into health insurance. I just received my new paycheck stub for 2007 yesterday, 1/3/2007, and the amount I made for the pay period matched the Y-T-D information. Does that mean my w2 will match my last paystub? I’m considering filing with my last paystub. I’ve been at the same job for 6 yrs, and have my previous w2s to get the EIN. Is it legal to do that? Thank you.

Answer: The pay check should be the same as your w-2 based on info you have given, I’m also assuming you don’t have a pension plan either. If you are thinking about going to one of those “we’ll get your refund from your w-2″ places, I would advise against it. They are pretty much giving you a loan, they know you wil be getting back 1000, so they give you 700 today, and they collect 1000 in a month. But keep in mind, there is a slight chance that the company may need to amend your w-2, in that case, the information may be different.

If your return is only one w-2 you can file a 1040 EZ. It’s VERY easy to follow and will allow you to keep all the money you have loaned to the government this year.