What is a Form W-2?

Modified on Thu, 25 Jan 2024 at 12:19 AM

A Form W-2 is an employee’s Wage and Tax Statement. It’s issued as a record of an employee’s compensation, benefits, and taxes withheld for a given tax year. 

 

A W-2 is filed for all employees of a company who earn any wages through employment. W-2s should be issued for every employee, regardless of the amount earned, or if income, Social Security, or Medicare taxes were withheld.

 

W-2 forms are the most common tax form issued and generally contain all wage and withholding information for a given employer. More information about what each of the boxes on the W-2 mean can be found here

 

This content is provided for informational purposes only and should not be construed as tax, legal, financial, accounting, or other advice. Rules and regulations vary by location and are subject to change, so please consult with an expert if you need advice specific to you.

 

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