The W-2 Wage and Tax Statement form reports an employee’s annual wages, and the taxes withheld from them. Employers provide employees with a W-2 form no later than January 31, one month after the close of the tax year which is usually December 31. Employers keep a copy of the W-2 for their records, and send other copies to the employee, the social security administration, the IRS, and state and local governments that require tax withholdings.
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Here is some information employers will need to fill out the W-2 form:
Employee’s name, address, and Social Security Number
Employer Identification Number (also called a federal tax ID number)
Employer’s name, address, zip code
Employee’s wages, tips and compensation (including non-qualified retirement plans)
Amount of federal income tax withheld from these wages
Employee’s social security wages, and the amount of social security tax withheld
Employee’s Medicare wages, and the amount of Medicare tax withheld
Amount of tips the employee received and reported
Any advance Earned Income Tax Credit payments
Any dependent care benefits
Information on state and local income and taxes
You can find more W-2 tax filing instructions for employers through the IRS, or go straight to the W-2 form.
For more information about business taxes, go to www.irs.gov.
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