W2 Tax Form Template – IRS Form W-2 provides information on employees’ gross pay, Social Security and Medicare payments as well as withholdings of federal and state income tax and other deductions related to taxes. This form must be given to employees by the employer for all who were employed in the company’s tax year.
Tax Form W 2 Worksheet W2 Lesson Plan Teaching Taxes
The form must be provided to employees and submitted to the Social Security Administration no later than January. 31 of the following year.
What exactly is Form W-2?
Form W-2 provides information on income and withholding to employees in order to fill out their income tax returns and 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. For employees who claim to be exempted tax withholding is not mandatory on the W-4 forms that they must have given to their employers during the hiring process.
Who Uses Form W-2?
Form W-2 is distributed to employees, but not independent contractors, freelancers as well as other non-employees, like vendors. To provide income information to them, you would utilize Form 1099-MISC. If you’ve paid $600 or more to them during the previous year, most non-employees will need to receive the 1099MISC form.
Where can you get W-2 forms?
W-2 forms can be obtained from your local office supply shop or from your CPA or on the internet from IRS. Forms for W-2 can be found through a variety of tax preparation software.
How to File Forms W-2
Forms for W-2, as well as a W-3 form, must be submitted to SSA no later than January. 31 of the next year. The deadline for distributing W-2 forms to employees is January. 31. W-3 is a form that transmits information to the SSA. It combines all of the information from W-2 forms into one total.