North Carolina W2 Form Printable – IRS Form W-2 provides information on the gross wages of employees, Social Security and Medicare payments as well as federal and state income tax withholdings and other deductions related to taxes. This statement must be provided to employees by the employer for all who worked in the company’s tax year.
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The form should not be returned to the Social Security Administration after Jan. 31, the year that follows.
What is Form W-2 and how Does It How Does It Work?
Form W-2 is used to provide income and withholding information to employees in order to fill out their tax returns for income and provides the same information to the IRS and the Social Security Administration (SSA).
The form should be filled out by each worker whose the income, Social Security or Medicare taxes were withheld. For employees who claim to be exempt, withholding is not required on the W-4 forms that they must have given to their employers during the process of hiring.
Who uses the Form W-2
Form W-2 is distributed to employees, not independent contractors, freelancers, and other non-employees like vendors. It is recommended to prefer to use Form 1099-MISC to report income to those people. Non-employees are required to get a 1099-MISC when they have received $600 or more during the preceding year.
Where can you get Forms W-2?
W-2 forms are available at the local office supply store or through your CPA or online from IRS. Forms for W-2 are also accessible in the majority of tax preparation software.
How to Filing Forms W-2
Forms for W-2 must be sent together with a W-3 form to SSA by the 31st of January. Jan. 31 is the last day for employees to receive W-2 forms. Forms for W-3 are transmission forms that combine information from W-2 forms to form an overall for SSA.