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A Comprehensive Guide on The W2 Form

Every year, the IRS and the employee is supposed to receive the W2 form from the employer. The W2 form has the information regarding the tax withheld from the paycheck of the employee and their income. On this W2 form, an employee will know whether they owe tax or they deserve a refund. An employee who receives this form is known as the W2 employee.

In the W2 form, there are several pieces of information that you will be required to fill. The details of the employee, such as the state identification and address, will be required. Personal and income details of the employee will be needed in the form. click here to learn more on the details that require from the employee to identify them as the taxpayers. On this page, you are also going to learn more on what you should do once you have received the W2 form from the employer.

The W2 contain boxes that have both letters and numbers. Before the submission, employee is supposed to ensure that the relevant boxes are filled. It is the responsibility of the employer to make sure that the form is correctly filled to reflect the earning and the income to be withheld. View here for more details on how each box on the W2 form is filled.

It is necessary to be aware that what is filled on the form is the earning of the last year. Before 31 January every year, the company is supposed to have prepared and submitted the W2 form. After receiving the form, you will have until 15 of April to fill your income tax details. Discover more on what you should do if the form is not submitted on time.

As an already stated, it is the employer who is supposed to make the W2 form. It is recommended that they consider the printable form. Click for more on how the form looks like. The printable form is suited for the current, former, and new employees. Click here on more details about this form.

The W2 is one of the several forms related to the taxation of the employee. The amount of money that is withheld from the employee paycheck is indicated in the w4 form. If you are a contract employee, you will have to fill the W9 form from the day that you start to work for the company. On the 1099 form, you are going to see information regarding the earning and the deduction of the employee. To discover more information about these tax form, click on this page.