Browsing: Form W-2

Form W-2, also known as the Wage and Tax Statement, is an IRS tax form used in the United States to report wages paid to employees and the taxes withheld from their earnings. Employers must provide this form to each employee annually, detailing income, Social Security, and Medicare taxes withheld. The form is also submitted to the Social Security Administration (SSA) and the IRS, ensuring accurate tax reporting and compliance.

Employees use Form W-2 to file their income tax returns, as it contains essential information about their earnings and tax withholdings. If an individual has multiple employers, they receive separate W-2 forms for each job. The IRS cross-references these forms with tax filings to verify reported income and deductions. Additionally, Form W-2 serves as proof of income for various financial applications, including loan approvals and government benefits.