W-2 Form

(redirected from W-2s)

W-2 Form

A form that an employer provides an employee each year indicating the employee's wages, salary, and/or tips and the amount of tax withheld over the course of the year. This helps the employee calculate his/her income tax liability. The W-2 form is the most common tax form in the United States, and every employer is required to provide it to every employee. See also: W-4 Form.
References in periodicals archive ?
In other words, employers may report the cost for 2011 but are not required to do so until they issue W-2s in January 2013 for calendar 2012.
W-2s can and should, whenever possible, be accessed electronically rather than stored in hard copy form.
These letters are sent if an employer has submitted more than 10 W-2s with mismatches or the number of mismatches amount to more than one half of one percent of all the W-2s submitted by the employer.
People must bring proof of income, such as Social Security benefit statement, Supplemental Security Income, W-2s forms, 1099 forms, interest statements, and 2005 income tax returns.
Accordingly, when a resident employee works in his or her home state for a portion of the week and the remaining days at his or her employer's corporate headquarters in another state, the employer must issue state-specific W-2s that detail the proper allocation of income among the states.
The addition of this information on 2004 W-2s will aid in determining whether a member meets the IRS requirements for EITC and CTC, and which method of computing taxes is most advantageous to each member's individual situation.
After people struggle to interpret new tax laws, short and long forms, and changing W-2s, they're faced with the all-important question: vacation in Hawaii or debt for a year?
Today verification of employment letters, check stubs, W-2s and even tax returns can easily be falsified," said Don Effertz, AppIntelligence's vice president of operations.
Short Term Disability W-2s: Prior to authorizing your payroll vendor to issue W-2s on your employees, it is important to verify with your short-term disability vendor who will issue the W-2s for any individual who received disability income in 2003.
This includes blemished or less than perfect credit and buyers who can't show 1099s or W-2s, self-employed buyers such as business owners with fluctuating income, and large cash out and jumbo loan situations.
These are the people for whom there are no W-2s or 1099s, no record of wages, annuities, gambling winnings, pensions, interest, dividends, or money flowing in from foreign trusts and bank accounts.
The Internal Revenue Service has responded that it is concerned that easy access to these forms could allow tax cheats to register phony businesses in order to create phony W-2s for taxpayers.