What is a W-2 form?
The W-2 form is a tax document that is used to report employee income, both from salaries and wages. The form also notes how much tax the employer withheld alongside some additional information.
If you have made more than $600 from your employer, you are entitled to a W-2 form.
How do I get my W-2 form?
If you simply want to get a blank W-2, the easiest way is simply to download it online — it’s currently available via the IRS’s website.
However, most employees will receive their W-2 forms either via mail or via email. Employers must supply W-2 forms to their employees because they have accurate data on their earnings — and more importantly, on the precise amount of tax that the employer withheld.
If you haven’t received your W-2 by February, then it’s a good idea to talk with your employer.
When should I receive my W-2 form?
Generally, you can expect to receive your W-2 form within the first week of February.
How does a W-2 form work?
A form W-2 is pretty straightforward. The form requests some basic information about you, like your name, date of birth, etc.. However, it also asks for your earnings in wages, tips, etc. Usually, your employer will send it to you by April, but you should ask your employer if you haven’t received it by February.
This is all done so you can file taxes and so that the IRS can keep track of what you owe, and what you have paid.
Although most people don’t realize it, the IRS actually requires that everyone pay taxes four times. Freelancers and business owners do this themselves, but if you are an employee, your employer takes care of this for you. The W-2 helps keep track of the withholdings throughout all these payments.
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