Learn More About Form W-2
WHAT is a W-2?
Form W-2 reports earnings and withholdings for an employee of a business. A W-2 form must be provided to the employee and a copy mailed or e-filed to the SSA (Social Security Administration).
WHY do I file a W-2?
The IRS requires that all income is reported by businesses and individuals for tax purposes. Failure to do so can result in penalties.
WHO needs to file a W-2?
Employers must report wages paid to employees, income taxes withheld, Medicare and Social Security taxes and other applicable withholdings for the calendar year.
WHEN do I file a W-2?
W2 forms are required to be mailed to the recipient by Jan. 31, and e-filed with the SSA by Mar. 31, or a paper copy mailed to the SSA by Feb. 28 each year.
W-2 Reporting Information
| What to Report |
Amount to Report |
| Wages, tips and other compensation, including vacation allowances, bonuses, severance pay, certain moving expense payments, some kinds of travel allowances and third-party payments of sick pay for permanent, temporary and seasonal employees |
Amounts vary, see official IRS instructions |
| Social security and Medicare withholdings, income tax withholdings, and other applicable withholdings such as 401K and pre-tax health insurance. |
See official IRS instructions |
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