W-2 Form 2021 Fillable – The IRS Form W-2 contains information about gross salary, Social Security, Medicare, Federal and State income taxes withholdings, and other deductions related to taxes. Employers are required to provide this form to each employee employed by the company in the year of tax.
W 2 Form 2021
The form should be filled out by employees and then returned to the Social Security Administration by January 31st of the next year.
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 for their tax returns for income and also provides the same information to the IRS and the Social Security Administration (SSA).
It must be filled for every worker who’s earnings, Social Security, or Medicare taxes were withheld during the course of the calendar year. There is an exception for those who claim that they are exempt from withholding on the W-4 forms they should have provided to their employers prior to hiring.
Who uses Form W-2?
Form W-2 is provided to employees, but not independent contractors, freelancers as well as other non-employees, such as vendors. For information on income to these people it is necessary to utilize Form 1099-MISC. The majority of non-employees need to be provided with a 1099-MISC if you’ve paid them more than $600 in the previous year.
Where can I get Forms W-2?
W-2 forms can be bought at the local office supply store or through your CPA. It is also possible to get them online via the IRS. Forms for W-2 can be obtained from a variety of business tax preparation services.
How to File Forms W-2
Forms for W-2 must be sent along with a W-3 to SSA no later that the 31st of January. The deadline for distributing W-2 forms to employees is January. 31. The form W-3 is a transmittal document used to combine the information on the individual forms of W-2 into a total which can then be utilized by the SSA.