W-2

The form your employer gives you showing how much you earned and how much tax was withheld during the year.

Full explanation

Form W-2 (Wage and Tax Statement) is issued by your employer by January 31 each year. Key boxes: Box 1 (total wages/salary/tips), Box 2 (federal income tax withheld), Box 3-4 (Social Security wages and tax), Box 5-6 (Medicare wages and tax), Box 12 (retirement contributions, health insurance, etc.), Box 17 (state income tax withheld). You need your W-2 to file your tax return. If you don't receive it by mid-February, contact your employer, then the IRS.

Source: IRS Instructions for Forms W-2

Ask the AI about this

“How does w-2affect my taxes?”

Tax education only. Source: IRS Instructions for Forms W-2.