The W-2 form reports an employee’s annual wages and the amount of taxes withheld from his or her paycheck and is use to file your federal and state taxes.


A W-4 is a form that individuals complete for withholding purposes, where a W-2 form is for employers to actually  fill out. The employer must provide the employee their W-2 form by a certain date that is set by the IRS. A employer must legally give out a w2 to any person who has worked for the company for any amount of money, doesnt matter the amount. Also for those working for any other forms of compensation.  The employer must send the employee the W-2 Form on or before January 31st each year so the employee has ample time to file his or her taxes before the deadline, April 15. (depending on irs)

W-2 is the most common tax form, there are others that apply only to specific circumstances. Contracted employees must fill out  a W-9 Form prior to work, and they are given a 1099 Form by the company for which they provided service, but only if they completed $400 worth of work or more. They are considered contractors and have no taxes taken out of the income they recieve through the year. Students receive a Form 1098 if they paid interest on college tuition or a student loan that year.

The fields on a W-2 Form provide  all types of income. There is a box that states the total amount of money the employee made from that employer in the year, which is the same for federal and state. some of the other field indicate the amount of taxes that were withheld from the employee’s paychecks, separated by federal income tax, social security wages, social security tax, and more. There are also fields that show how much money in tips the employee reported for the year, which applies to any jobs that allow the employee to collect tips. Like waitress or bartenders and such.

Some others things are the employers EIN which is the EMPLOYER IDENTIFICATION NUMBER.

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