Tag Archives for " TASHAS TAX TALK "


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.