Starbucks has an online version of W-2s for its employees. Getting a digital copy of your W-2 from Starbucks is a simple and easy process.
You can also receive other tax forms from Starbucks as you receive employee compensation plans in the form of restricted stock units (RSUs).
What is Form W-2?
Form W-2 is also called wages and income statement for an employee. It is issued by an employer to each employee containing valuable wages and tax information.
Employees with wages and income above $600 will receive Form W2. It is not issued to self-employed and independent contractors.
Form W-2 is an employee’s tax statement prepared by the employer. The employer will issue a copy of the W-2 to the IRS and the employee.
Form W-2 contains the following information:
- Employer Identification Number (EIN)
- Employee’s state and federal taxes withheld
- The amount of social security and Medicare income and FICA taxes withheld by the employer.
- Taxable and nontaxable benefits
- Exemption from income tax withholding (if applicable)
Employers receive information such as withholding tax or exemption through Form W-4.
Form W-4 is provided by an employee at the time of joining the company usually.
How to Get Form W-2 as a Current Employee from Starbucks?
Starbucks sends Form W-2s to its current employee digitally and by post. All employees have an option to register for receiving W-2 through the online portal.
Like many other large companies, Starbucks also uses the ADP to offer employee tax information like Form W-2s.
Once you register on the ADP, you’ll start receiving your tax forms electronically every year. You may receive other than W2s through this portal as per your tax situation.
Form W-2s are issued to all employees of Starbucks even if they are not registered on the ADP. You’ll receive your W-2 by post in that situation. Starbucks does not issue W-2s to its merchant or franchise partners though.
Starbucks employees have to create a broker account with Fidelity as well. They receive their employee benefit plan amounts in the form of stocks.
Starbucks labels this program “Bean Stocks”. Employees receive their compensation after tax deductions in the form of stocks. These stocks can be fully vested after two years.
So, your W-2 will include that information about benefit plans and taxes withheld through stock compensation plans.
How to Get Form W-2 as a Former Employee from Starbucks?
No official information on Starbucks for former employees on getting W-2s. However, if you resign or leave Starbucks during the year, you should expect to receive the current year’s W-2 from Starbucks.
Leaving employees through resignations, termination, or similar purposes can only convert fully vested stocks under their ownership.
Since former employees are responsible for their tax gains and no longer receive salaries, Starbucks would not issue W-2s to them.
When Does Starbucks Issue Form W-2?
Every employer must provide each employee with a copy of the W-2 before January 31. The IRS requires all employers to follow the deadline.
If you receive your W-2 by post, you can expect to receive it no longer than February 14. However, you should check with the Starbucks HR department if you do not receive your W-2 by these dates.
Starbucks employees can download their W-2s from the online ADP portal as soon as available. You could request a copy if you did not register in time for the current year.
How to Register for the Digital Form W-2 with Starbucks?
Starbucks employees can register for the digital version of Form W-2 through the ADP portal.
Follow these simple steps to get your digital copy of Form W-2.
- Visit the ADP web link https://my.adp.com/ and click on the “register now” button.
- Use the Starbucks employee W2 registration code Starbucks-DigitalW2.
- Complete the personal information section and click on the create account button. Then click “yes”.
- Provide other details like your employee number.
- Complete your online W-2 registration process by following the wizard.
- Once you register, you can set up your password and other login details.
- Choose the “opt-in” for the digital W-2 option as you log in to your ADP.
Once your digital copy of W-2 is ready in the ADP, you’ll receive an email confirmation at your provided email address.
You can edit your digital W-2 information using the same login credentials through the ADP portal.
Which Other Tax Forms You May Receive from Starbucks?
As mentioned above, Starbucks issues stocks to its employees for compensation plans. So, employees may receive other tax forms than W-2s as well.
This is an employee’s wages and tax statement. It includes income, federal and state taxes withheld, and tax benefits information.
Starbucks restricted stock unit (RSU) gains are also reported on W-2.
Employees might receive Form 1099-B if they sold fully vested Starbucks stocks. This form is used to report proceeds from broker and barter trade transactions.
Starbucks will not withhold any taxes for such transactions as employees are fully responsible for individual tax liabilities.
This form is used for reporting dividend distributions by brokers and financial institutions. So, you may receive this form from Starbucks if you receive cash dividends.
Employees will report and file dividend taxes separately from their income taxes withheld by Starbucks.
If you qualify as a Starbucks employee (as defined by the IRS) and a Non-Resident of the US, you may need to use this Form.
Form W-8BEN is the certification for non-US resident status.
Frequently Asked Questions on Tax Resources for Starbucks
Here are a few commonly asked questions about Starbucks taxes and employee compensation plans that are closely linked to income taxes.
What is Starbucks’ Bean Stocks Program?
Bean Stocks program offers restricted stock units to Starbucks employees. Restricted stock units cannot be sold or transferred to other persons for a specified period.
Starbucks uses Bean stocks programs to issue employee compensation and other benefits.
Who Can Enroll for Bean Stocks?
Employees do not need to enroll in the Bean Stocks program. Starbucks automatically registers its employees and partners for the employee compensation plans when they fulfill certain conditions.
What is Stock Vesting?
Stock vesting means the probation or waiting period for employees during which they should remain in service without a break at Starbucks.
Starbucks stocks are vested 50% after one year and 100% after two years.
How Starbucks Withholds Employees’ Income Taxes?
The monthly income taxes withheld are in the cash form. Starbucks will deduct the portion of estimated income tax from your salaries/wages as per your instructions given on Form W-4.
What Happens to Your Bean Stocks if You Leave Starbucks?
In the cases of death or permanent disability of an employee, all unvested restricted stock units will be fully vested on that date.
Only vested stocks until that date will be converted to the employee’s name if an employee resigns or leaves for other reasons.
How to Contact Starbucks if You Do Not Receive Form W-2?
You can check the online ADP portal to get a copy of Form W-2. If you did not receive Form W-2 by the deadline, check if you opted to receive a paper copy.
You can contact Starbucks HR department by email or call as well.