South Carolina W2 Form Printable – IRS Form W-2 provides information on the gross salary of an employee, Social Security and Medicare pay as well as state and federal income tax withholdings, as well as other deductions for taxes. This form must be provided to every employee who was employed during the tax year by their employer.
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The form should be filled out by employees and returned to the Social Security Administration by January 31st of the following year.
What exactly is Form W-2? how Does It Work?
The Form W-2 is utilized to give income and withholding information for employees to prepare their income tax returns. It also gives the same information the IRS as well as the Social Security Administration.
The form should be filled out by every worker for whom income, Social Security or Medicare taxes were withheld. An exception exists for employees who’ve claimed to be exempt from withholding on the W-4 forms they should have provided to their employers prior to hiring.
Who uses Form W-2
Employees aren’t eligible for Form W-2. This applies to freelancers, independent contractors as well as other non-employees such as vendors. For income information those who are employees would use Form 1099-MISC. A 1099-MISC is required for all non-employees who paid you $600 or greater in the preceding year.
Where can you get W-2 forms?
W-2 forms can be obtained at your local office supply shop, through your CPA or on the internet from IRS. W-2 forms can be obtained from most tax preparation programs.
How to File Forms W-2
W-2 forms, along with a W-3 form, must be submitted to SSA no later than January. 31 of the following year. Jan. 31 is the last day for employees to receive W-2 forms. W-3 is a form that transmits information to the SSA. It combines all of the information from W-2 Forms into a single total.