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When you earn wages or a salary from an employer, you'll receive a W-2 form by Jan. 31 of the following year, which contains all the relevant information about your income that you'll need for tax...
In US territories, the W-2 is issued with a two letter territory code, such as W-2GU for Guam. Corrections can be filed using Form W-2c. The use of the form has led to the phrase "W-2 employees" to refer to those who receive Form W-2, in contrast to independent contractors and other "1099 workers" whose income is instead reported on Form 1099. [2]
Here’s how both W-2 and 1099 employees are treated by employers in regards to taxes, benefits, and the type of work each performs. W-2 Employee 1099 Con tractor
The Form W-2, Wage and Tax Statement, is used to report wages paid to employees and the taxes withheld from them. [46] Employers must complete a Form W-2 for each employee to whom they pay a salary, wage, or other compensation as part of the employment relationship. An employer must mail out the Form W-2 to employees on or before January 31.
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