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In this video, the presenter discusses steps to take if you lose your W-2 or other tax forms needed for tax preparation. The W-2, issued annually by employers in January, reports your income, tax withholdings, and retirement contributions, all essential for completing Form 1040. If you misplaced your W-2, the easiest option is to contact your employer's HR department to request a duplicate. This is usually straightforward if you are still employed there. For former employers, if the relationship is not ideal, you may still be able to obtain the document by reaching out. Overall, the emphasis is on contacting the employer for a replacement.