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Form W-2 (officially, the "Wage and Tax Statement") is an Internal Revenue Service (IRS) tax form used in the United States to report wages paid to employees and the taxes withheld from them. [1] 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.
Each section of a W-2 serves a specific tax-filing purpose. The IRS provides extensive instructions that are updated annually for the more complicated entries on the form. W-2 vs. W-4
Filing status is used to determine your filing requirements, the amount of your standard deduction, available credits and the tax rate applied to your taxable income. Your filing status will ...
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.
A W-2 is the form your employer is required to send to you by the end of January, documenting how much money you earned working for them in the prior year, and how much tax was withheld from your ...
An individual's tax liability depends upon two variables: the individual's filing status and the taxable income. [16] The status can determine the correct amount of tax, whether the taxpayer can take certain tax deductions or exemptions that could lower the final tax bill, and even whether one must file a return at all. [17]
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