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Online Ordering for Information Returns and Employer Returns. Other Current Products. Information about Form W-2, Wage and Tax Statement, including recent updates, related forms and instructions on how to file. Form W-2 is filed by employers to report wages, tips, and other compensation paid to employees as well as FICA and withheld income taxes.
Feb 1, 2022 · You will need all W-2s to file your taxes. You’ll also receive three copies of each W-2: Copy A: Your employer sends this to the Social Security Administration. Copy B: File this with your federal tax return. Copy 2: File with your state or local tax return. Copy C: Keep for your records.
- Example Form W-2
- How to Fill Out Form W-2
- W-2 Box A: Employee’S Social Security Number
- W-2 Box B: Employer Identification Number
- W-2 Box C: Employer’S Name, Address, and Zip Code
- W-2 Box D: Control Number
- W-2 Boxes E and F: Employee’S Name, Address, and Zip Code
- W-2 Box 1: Wages, Tips, Other Compensation
- W-2 Box 2: Federal Income Tax Withheld
- W-2 Box 3: Social Security Wages
Before we dive into how to fill out Form W-2, here’s a simple sample of a Form W-2 for an employee who earns $50,000 annually.
You might have your Form W-2 responsibilities down to a science. Input employee information; send copies to employees; file the form with the SSA and state, city, or local tax department; and repeat the following year. Or, you just might spend hours gathering employee information and trying to decode the Wage and Tax Statement. Whether you complete...
Box A shows your employee’s Social Security number. Social Security numbers are nine digits that are formatted like XXX-XX-XXXX. If your employee applied for a Social Security card and has not received it, don’t leave the box blank. Instead, write “Applied For” in Box A on the Social Security Administration copy. When the employee receives their SS...
Box B shows your Employer Identification Number. EINs are nine-digit numbers structured like XX-XXXXXXX. The number you enter in Box B is the same on every employee’s Form W-2. The IRS and SSA identify your business through your unique EIN. Do not use your personal Social Security number on Forms W-2. If you do not have an Employer Identification N...
Box C further identifies your business by listing your company’s name and address. Use your business’s legal address, even if it’s different than where your employees work. Your employees may wonder whether the address is incorrect if it’s different than their work address. Verify your legal business address and ensure your employee it is accurate.
Box D might be blank, depending on whether your business uses control numbers or not. A control number identifies Forms W-2 so you can keep records of them internally. If you don’t use control numbers, leave this box blank.
Box E shows the employee’s first name, middle initial, and last name. Reference the employee’s SSN to enter their name correctly. Enter the employee’s address in Box F.
Box 1 reports an employee’s wages, tips, and other compensation. This is the amount you paid the employee during the year that is subject to federal income tax. Payments not subject to federal income tax include pre-tax retirement plan contributions, health insurance premiums, and commuter benefits. The wages you report in Box 1 might be higher or ...
Box 2 shows how much federal income tax you withheld from an employee’s wages and remitted to the IRS. Federal income tax withholdingis based on the employee’s taxable wages and filing status. If your employee has a question about their refund amount or why they owe taxes, instruct them to Box 2. The IRS compares what the employee paid throughout t...
Box 3 shows an employee’s total wages subject to Social Security tax. Do not include the amount of pre-tax deductions that are exempt from Social Security tax in Box 3. The number in Box 3 should not be higher than the Social Security wage base, which is $168,600 for 2024. If you must report Social Security tips (Box 7), the total of Boxes 3 and 7 ...
Aug 15, 2024 · Understanding the W-2 form. Form W-2, or a W-2 form, is a wage and tax statement used to file an individual's taxes. The W-2 lists an employee's salary information, including how much tax an employer withholds from the employee's pay. A withholding tax is an amount that the employer takes out of an employee's earnings.
Form W-2 is a form your employer completes which states your earnings and taxes withheld for a specific tax year. Your employer sends you a W-2 at the end of January (of the following year) as a wage earner. Form W-4 is a form you complete to let your employer know how much tax to withhold from your paycheck.
Aug 21, 2024 · IRS Form W-2, or a “Wage and Tax Statement” is a tax form that reports the wages an employee earned during the year, as well as any taxes their employer withheld. This is an essential form you ...
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Jan 4, 2023 · Where To Get Form W-2 . Employers must prepare a Form W-2 for each eligible employee. Typically, employers must mail or hand deliver your Form W-2 to you no later than January 31 for the previous tax year—for example, January 31, 2023, for 2022 earnings.
