IRS Tax Form – W2

What is W2?

W2 is a form issued by employers (from payroll department) to full time employees once in a year.

W2 contains information about taxes, wages and other necessary information for filing tax returns.

Based on terms between the employer and employee, these forms are sent to employees on:

  • W2 – Full time on Salary Basis;
  • W2 – Full Time on Hourly Basis;
  • W2 on percentage basis.

This form is used by their employees to submit tax returns. For example, if an employee has worked with three employers within a year, employee will get 3 W2 forms from their employers.

To get the latest copy of w2 form, go to www.irs.gov.

W2 form contains the following information:

  • a. Employees Social Security Number
  • b. Employer identification number (EIN)
  • c. Employer’s name, address, and ZIP code
  • d. Control number
  • e. Employee’s first name and initial, Last name and Suff
  • f. Employee’s address and ZIP code
  • 1. Wages, tips, other compensation
  • 2. Federal income tax withheld
  • 3. Social security wages
  • 4.Social security tax withheld
  • 5. Medicare wages and tips
  • 6. Medicare tax withheld
  • 7. Social security tips
  • 8. Allocated tips
  • 9. Advanced Earned Income Credit (EIC)
  • 10. Dependent care benefits
  • 11. Nonqualified plans
  • 12. Cost of employer-sponsored health coverage
  • 13. Statutory employee, Retirement plan, Third-party sick pay
  • 14. Other
  • 15. State: Employer’s state ID number
  • 16. State wages, tips, etc.
  • 17. State income tax
  • 18. Local wages, tips, etc.
  • 19. Local income tax
  • 20. Locality name
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