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Every year, as tax season approaches, individuals and employers become closely acquainted with a variety of tax documents, among which the IRS W-2 form plays a pivotal role. This particularly important piece of paper bridges the information gap between the income employees earn and the taxes withheld from that income over the course of a year. Employers are tasked with the responsibility of not only accurately completing these forms for each of their employees but also ensuring timely delivery to both the employees and the IRS. This ensures that employees can proceed with filing their tax returns, armed with all the necessary information regarding their earnings, tax withholdings, Social Security, and Medicare contributions. Beyond its role in individual tax filing, the W-2 form also serves as a critical tool for the IRS to verify an individual’s income claims against their employers' reports, thereby playing a key role in maintaining the integrity of the tax system. Understanding the nuances of this form, including deadlines, the information required, and the potential implications of errors, can significantly influence the tax filing experience, potentially making it smoother and free of common pitfalls.

Form Preview

Attention:

You may file Forms W-2 and W-3 electronically on the SSA’s Employer W-2 Filing Instructions and Information web page, which is also accessible at www.socialsecurity.gov/employer. You can create fill-in versions of Forms W-2 and W-3 for filing with SSA. You may also print out copies for filing with state or local governments, distribution to your employees, and for your records.

The maximum amount of dependent care assistance benefits excludable from income may be increased for 2021. The American Rescue Plan Act of 2021 permits employers to increase the amount of dependent care benefits under their plans that can be excluded from an employee’s income from $5,000 ($2,500 for married filing separately) to up to $10,500 ($5,250 for married filing separately). See section C of Notice 2021-26 in

Internal Revenue Bulletin: 2021-21 | Internal Revenue Service (irs.gov) for more information.

Note: Copy A of this form is provided for informational purposes only. Copy A appears in red, similar to the official IRS form. The official printed version of this IRS form is scannable, but the online version of it, printed from this website, is not. Do not print and file Copy A downloaded from this website with the SSA; a penalty may be imposed for filing forms that can’t be scanned. See the penalties section in the current General Instructions for Forms W-2 and W-3, available at www.irs.gov/w2, for more information.

Please note that Copy B and other copies of this form, which appear in black, may be downloaded, filled in, and printed and used to satisfy the requirement to provide the information to the recipient.

To order official IRS information returns such as Forms W-2 and W-3, which include a scannable Copy A for filing, go to IRS’ Online Ordering for Information Returns and Employer Returns page, or visit www.irs.gov/orderforms and click on Employer and Information returns. We’ll mail you the scannable forms and any other products you order.

See IRS Publications 1141, 1167, and 1179 for more information about printing these tax forms.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22222

VOID

 

 

a

Employee’s social security number

For Official Use Only

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OMB No. 1545-0008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

b Employer identification number (EIN)

 

 

 

 

 

1 Wages, tips, other compensation

 

2 Federal income tax withheld

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c Employer’s name, address, and ZIP code

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d Control number

 

 

 

 

 

 

 

 

9

 

 

 

 

 

 

 

10

Dependent care benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e Employee’s first name and initial

 

Last name

 

Suff.

11

Nonqualified plans

 

 

 

12a See instructions for box 12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13

Statutory

Retirement

Third-party

 

12b

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

employee

plan

sick pay

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14 Other

 

 

 

 

 

12c

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

f Employee’s address and ZIP code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form W-2 Wage and Tax Statement

2022

 

 

Department of the Treasury—Internal Revenue Service

 

 

 

 

 

For Privacy Act and Paperwork Reduction

 

Copy A—For Social Security Administration. Send this entire page with

 

 

 

 

 

Act Notice, see the separate instructions.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form W-3 to the Social Security Administration; photocopies are not acceptable.

 

 

 

 

 

 

 

 

 

 

Cat. No. 10134D

Do Not Cut, Fold, or Staple Forms on This Page

22222

a Employee’s social security number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OMB No. 1545-0008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

b Employer identification number (EIN)

 

 

 

1 Wages, tips, other compensation

 

2 Federal income tax withheld

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c Employer’s name, address, and ZIP code

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d Control number

 

 

 

9

 

 

 

 

 

 

 

10

Dependent care benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e Employee’s first name and initial

Last name

Suff.

11

Nonqualified plans

 

 

 

12a

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

13

Statutory

Retirement

Third-party

 

12b

 

 

 

 

 

 

 

 

 

 

employee

plan

sick pay

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14 Other

 

 

 

 

 

12c

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

f Employee’s address and ZIP code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form W-2 Wage and Tax Statement

2022

 

 

Department of the Treasury—Internal Revenue Service

 

 

 

 

 

 

 

 

 

 

Copy 1—For State, City, or Local Tax Department

 

 

a

Employee’s social security number

 

 

 

Safe, accurate,

 

 

 

 

 

Visit the IRS website at

 

 

 

 

 

 

OMB No. 1545-0008

FAST! Use

 

 

 

 

 

www.irs.gov/efile

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

b Employer identification number (EIN)

 

 

 

1 Wages, tips, other compensation

 

2 Federal income tax withheld

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c Employer’s name, address, and ZIP code

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d Control number

 

 

 

9

 

 

 

 

 

 

 

10

Dependent care benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e Employee’s first name and initial

Last name

Suff.

11

Nonqualified plans

 

 

 

12a See instructions for box 12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

13

Statutory

Retirement

Third-party

 

12b

 

 

 

 

 

 

 

 

 

 

 

 

employee

plan

sick pay

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14 Other

 

 

 

 

 

12c

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

f Employee’s address and ZIP code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form W-2 Wage and Tax Statement

2022

 

 

Department of the Treasury—Internal Revenue Service

 

 

 

 

 

 

 

 

 

 

 

 

Copy B—To Be Filed With Employee’s FEDERAL Tax Return.

This information is being furnished to the Internal Revenue Service.

Notice to Employee

Do you have to file? Refer to the Form 1040 instructions to determine if you are required to file a tax return. Even if you don’t have to file a tax return, you may be eligible for a refund if box 2 shows an amount or if you are eligible for any credit.

Earned income credit (EIC). You may be able to take the EIC for 2022 if your adjusted gross income (AGI) is less than a certain amount. The amount of the credit is based on income and family size. Workers without children could qualify for a smaller credit. You and any qualifying children must have valid social security numbers (SSNs). You can’t take the EIC if your investment income is more than the specified amount for 2022 or if income is earned for services provided while you were an inmate at a penal institution. For 2022 income limits and more information, visit www.irs.gov/EITC. See also Pub. 596, Earned Income Credit. Any EIC that is more than your tax liability is refunded to you, but only if you file a tax return.

Employee’s social security number (SSN). For your protection, this form may show only the last four digits of your SSN. However, your employer has reported your complete SSN to the IRS and the Social Security Administration (SSA).

Clergy and religious workers. If you aren’t subject to social security and Medicare taxes, see Pub. 517, Social Security and Other Information for Members of the Clergy and Religious Workers.

Corrections. If your name, SSN, or address is incorrect, correct Copies B, C, and 2 and ask your employer to correct your employment record. Be sure to ask the employer to file Form W-2c, Corrected Wage and Tax Statement, with the SSA to correct any name, SSN, or money amount error reported to the SSA on Form W-2. Be sure to get your copies of Form W-2c from your employer for all corrections made so you may file them with your tax return. If your name and SSN are correct but aren’t the same as shown on your social security card, you should ask for a new card that displays your correct name at any SSA office or by calling 800-772-1213. You may also visit the SSA website at www.SSA.gov.

Cost of employer-sponsored health coverage (if such cost is provided by the employer). The reporting in box 12, using code DD, of the cost of employer-sponsored health coverage is for your information only. The amount reported with code DD is not taxable.

Credit for excess taxes. If you had more than one employer in 2022 and more than $9,114 in social security and/or Tier 1 railroad retirement (RRTA) taxes were withheld, you may be able to claim a credit for the excess against your federal income tax. See the Form 1040 instructions. If you had more than one railroad employer and more than $5,350.80 in Tier 2 RRTA tax was withheld, you may be able to claim a refund on Form 843. See the Instructions for Form 843.

(See also Instructions for Employee on the back of Copy C.)

aEmployee’s social security number

 

This information is being furnished to the Internal Revenue Service. If you

OMB No. 1545-0008

are required to file a tax return, a negligence penalty or other sanction

may be imposed on you if this income is taxable and you fail to report it.

 

b Employer identification number (EIN)

 

 

 

1 Wages, tips, other compensation

 

2 Federal income tax withheld

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c Employer’s name, address, and ZIP code

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d Control number

 

 

 

9

 

 

 

 

 

 

 

10

Dependent care benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e Employee’s first name and initial

Last name

Suff.

11

Nonqualified plans

 

 

 

12a See instructions for box 12

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

13

Statutory

Retirement

Third-party

 

12b

 

 

 

 

 

 

 

 

 

employee

plan

sick pay

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14 Other

 

 

 

 

 

12c

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

f Employee’s address and ZIP code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form W-2 Wage and Tax Statement

2022

 

 

Department of the Treasury—Internal Revenue Service

 

 

 

 

Safe, accurate,

 

Copy C—For EMPLOYEE’S RECORDS

 

 

 

 

 

 

 

FAST! Use

 

(See Notice to Employee on the back of Copy B.)

Instructions for Employee

(See also Notice to Employee on the back of Copy B.)

Box 1. Enter this amount on the wages line of your tax return.

Box 2. Enter this amount on the federal income tax withheld line of your tax return.

Box 5. You may be required to report this amount on Form 8959, Additional Medicare Tax. See the Form 1040 instructions to determine if you are required to complete Form 8959.

Box 6. This amount includes the 1.45% Medicare Tax withheld on all Medicare wages and tips shown in box 5, as well as the 0.9% Additional Medicare Tax on any of those Medicare wages and tips above $200,000.

Box 8. This amount is not included in box 1, 3, 5, or 7. For information on how to report tips on your tax return, see the Form 1040 instructions.

You must file Form 4137, Social Security and Medicare Tax on Unreported Tip Income, with your income tax return to report at least the allocated tip amount unless you can prove with adequate records that you received a smaller amount. If you have records that show the actual amount of tips you received, report that amount even if it is more or less than the allocated tips. Use Form 4137 to figure the social security and Medicare tax owed on tips you didn’t report to your employer. Enter this amount on the wages line of your tax return. By filing Form 4137, your social security tips will be credited to your social security record (used to figure your benefits).

Box 10. This amount includes the total dependent care benefits that your employer paid to you or incurred on your behalf (including amounts from a section 125 (cafeteria) plan). Any amount over your employer’s plan limit is also included in box 1. See Form 2441.

Box 11. This amount is (a) reported in box 1 if it is a distribution made to you from a nonqualified deferred compensation or nongovernmental section 457(b) plan, or (b) included in box 3 and/or box 5 if it is a prior year deferral under a nonqualified or section 457(b) plan that became taxable for social security and Medicare taxes this year because there is no longer a substantial risk of forfeiture of your right to the deferred amount. This box shouldn’t be used if you had a deferral and a distribution in the same calendar year. If you made a deferral and

received a distribution in the same calendar year, and you are or will be age 62 by the end of the calendar year, your employer should file Form SSA-131, Employer Report of Special Wage Payments, with the Social Security Administration and give you a copy.

Box 12. The following list explains the codes shown in box 12. You may need this information to complete your tax return. Elective deferrals (codes D, E, F, and S) and designated Roth contributions (codes AA, BB, and EE) under all plans are generally limited to a total of $20,500 ($14,000 if you only have SIMPLE plans; $23,500 for section 403(b) plans if you qualify for the 15-year rule explained in Pub. 571). Deferrals under code G are limited to $20,500. Deferrals under code H are limited to $7,000.

However, if you were at least age 50 in 2022, your employer may have allowed an additional deferral of up to $6,500 ($3,000 for section 401(k)(11) and 408(p) SIMPLE plans). This additional deferral amount is not subject to the overall limit on elective deferrals. For code G, the limit on elective deferrals may be higher for the last 3 years before you reach retirement age. Contact your plan administrator for more information. Amounts in excess of the overall elective deferral limit must be included in income. See the Form 1040 instructions.

Note: If a year follows code D through H, S, Y, AA, BB, or EE, you made a make-up pension contribution for a prior year(s) when you were in military service. To figure whether you made excess deferrals, consider these amounts for the year shown, not the current year. If no year is shown, the contributions are for the current year.

A—Uncollected social security or RRTA tax on tips. Include this tax on Form 1040 or 1040-SR. See the Form 1040 instructions.

B—Uncollected Medicare tax on tips. Include this tax on Form 1040 or 1040-SR. See the Form 1040 instructions.

C—Taxable cost of group-term life insurance over $50,000 (included in boxes 1, 3 (up to the social security wage base), and 5)

D—Elective deferrals to a section 401(k) cash or deferred arrangement. Also includes deferrals under a SIMPLE retirement account that is part of a section 401(k) arrangement.

E—Elective deferrals under a section 403(b) salary reduction agreement

(continued on back of Copy 2)

 

 

a Employee’s social security number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OMB No. 1545-0008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

b Employer identification number (EIN)

 

 

 

1 Wages, tips, other compensation

 

2 Federal income tax withheld

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c Employer’s name, address, and ZIP code

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d Control number

 

 

 

9

 

 

 

 

 

 

 

10

Dependent care benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e Employee’s first name and initial

Last name

Suff.

11

Nonqualified plans

 

 

 

12a

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

13

Statutory

Retirement

Third-party

 

12b

 

 

 

 

 

 

 

 

 

 

employee

plan

sick pay

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14 Other

 

 

 

 

 

12c

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

f Employee’s address and ZIP code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form W-2 Wage and Tax Statement

2022

 

 

Department of the Treasury—Internal Revenue Service

 

 

 

 

 

 

 

 

 

 

Copy 2—To Be Filed With Employee’s State, City, or Local

Income Tax Return

Instructions for Employee (continued from back of

Copy C)

Box 12 (continued)

F—Elective deferrals under a section 408(k)(6) salary reduction SEP

G—Elective deferrals and employer contributions (including nonelective deferrals) to a section 457(b) deferred compensation plan

H—Elective deferrals to a section 501(c)(18)(D) tax-exempt organization plan. See the Form 1040 instructions for how to deduct.

J—Nontaxable sick pay (information only, not included in box 1, 3, or 5)

K—20% excise tax on excess golden parachute payments. See the Form 1040 instructions.

L—Substantiated employee business expense reimbursements (nontaxable)

M—Uncollected social security or RRTA tax on taxable cost of group- term life insurance over $50,000 (former employees only). See the Form 1040 instructions.

N—Uncollected Medicare tax on taxable cost of group-term life insurance over $50,000 (former employees only). See the Form 1040 instructions.

P—Excludable moving expense reimbursements paid directly to a member of the U.S. Armed Forces (not included in box 1, 3, or 5)

Q—Nontaxable combat pay. See the Form 1040 instructions for details on reporting this amount.

R—Employer contributions to your Archer MSA. Report on Form 8853, Archer MSAs and Long-Term Care Insurance Contracts.

S—Employee salary reduction contributions under a section 408(p) SIMPLE plan (not included in box 1)

T—Adoption benefits (not included in box 1). Complete Form 8839, Qualified Adoption Expenses, to figure any taxable and nontaxable amounts.

V—Income from exercise of nonstatutory stock option(s) (included in boxes 1, 3 (up to the social security wage base), and 5). See Pub. 525, Taxable and Nontaxable Income, for reporting requirements.

W—Employer contributions (including amounts the employee elected to contribute using a section 125 (cafeteria) plan) to your health savings account. Report on Form 8889, Health Savings Accounts (HSAs).

Y—Deferrals under a section 409A nonqualified deferred compensation plan

Z—Income under a nonqualified deferred compensation plan that fails to satisfy section 409A. This amount is also included in box 1. It is subject to an additional 20% tax plus interest. See the Form 1040 instructions.

AA—Designated Roth contributions under a section 401(k) plan BB—Designated Roth contributions under a section 403(b) plan

DD—Cost of employer-sponsored health coverage. The amount reported with code DD is not taxable.

EE—Designated Roth contributions under a governmental section 457(b) plan. This amount does not apply to contributions under a tax- exempt organization section 457(b) plan.

FF—Permitted benefits under a qualified small employer health reimbursement arrangement

GG—Income from qualified equity grants under section 83(i)

HH—Aggregate deferrals under section 83(i) elections as of the close of the calendar year

Box 13. If the “Retirement plan” box is checked, special limits may apply to the amount of traditional IRA contributions you may deduct. See Pub. 590-A, Contributions to Individual Retirement Arrangements (IRAs).

Box 14. Employers may use this box to report information such as state disability insurance taxes withheld, union dues, uniform payments, health insurance premiums deducted, nontaxable income, educational assistance payments, or a member of the clergy’s parsonage allowance and utilities. Railroad employers use this box to report railroad retirement (RRTA) compensation, Tier 1 tax, Tier 2 tax, Medicare tax, and Additional Medicare Tax. Include tips reported by the employee to the employer in railroad retirement (RRTA) compensation.

Note: Keep Copy C of Form W-2 for at least 3 years after the due date for filing your income tax return. However, to help protect your social security benefits, keep Copy C until you begin receiving social security benefits, just in case there is a question about your work record and/or earnings in a particular year.

 

VOID

 

 

a Employee’s social security number

OMB No. 1545-0008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

b Employer identification number (EIN)

 

 

 

1 Wages, tips, other compensation

 

2 Federal income tax withheld

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c Employer’s name, address, and ZIP code

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d Control number

 

 

 

9

 

 

 

 

 

 

 

10

Dependent care benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e Employee’s first name and initial

Last name

Suff.

11

Nonqualified plans

 

 

 

12a See instructions for box 12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

13

Statutory

Retirement

Third-party

 

12b

 

 

 

 

 

 

 

 

 

 

 

 

employee

plan

sick pay

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14 Other

 

 

 

 

 

12c

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e

 

 

 

f Employee’s address and ZIP code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form W-2 Wage and Tax Statement

2022

 

 

Department of the Treasury—Internal Revenue Service

 

 

 

 

For Privacy Act and Paperwork Reduction

Copy D—For Employer

 

 

 

 

 

 

 

 

 

 

Act Notice, see separate instructions.

File Attributes

Fact Name Description
Purpose of Form W-2 The Form W-2 is used by employers to report an employee's annual wages and the amount of taxes withheld from their paycheck.
Required Distribution Date Employers must send out the Form W-2 to employees by January 31st of the year following the reported tax year.
Mandatory Electronic Filing Employers filing 250 or more Form W-2s must file them electronically, according to the Internal Revenue Service (IRS) requirements.
Corrections with Form W-2c If there are errors on a Form W-2, employers must correct them using Form W-2c, Corrected Wage and Tax Statements.

How to Fill Out IRS W-2

Once a year, as the calendar flips to January, employers across the United States embark on the task of preparing W-2 forms. This document is crucial for employees as it reports their annual income and the taxes withheld from their paychecks. Completing the W-2 form accurately is essential to ensure employees can timely file their tax returns. Let's break down the steps to fill out this form, making the process as smooth as possible for both employers and employees.

  1. Gather necessary information including each employee’s social security number, name, address, and the total income they earned during the fiscal year.
  2. Enter the employer identification number (EIN), the employer’s name, and address in the designated sections at the top of the form.
  3. Fill in the employee’s social security number in "a Employee's social security number".
  4. Input the employee’s name and address in the fields labeled "c Employee’s name and address".
  5. Report the total wages, tips, and other compensation the employer paid to the employee in box 1.
  6. Fill in box 2 with the amount of federal income tax withheld from the employee’s wages for the year.
  7. Enter the total wages subject to Social Security tax (not exceeding the annual limit for the tax year) in box 3, and the amount of Social Security tax withheld on those wages in box 4.
  8. Box 5 should contain the total wages subject to Medicare tax. Input the amount of Medicare tax withheld in box 6.
  9. If applicable, report any tips the employee reported to the employer in box 7 and the allocated tips in box 8.
  10. In box 12, enter any additional compensation or deductions, using the correct code for each item. This might include contributions to a 401(k) plan, employee awards, educational assistance, etc.
  11. State and local taxes, wages, and withholdings should be reported in boxes 15 through 20 as required by specific state and locality regulations.
  12. Finally, double-check all the information for accuracy, correct any mistakes, and sign the form. Provide the employee with their copies by the end of January and file the form with the Social Security Administration by the due date, typically the end of February if filing on paper, or by the end of March if filing electronically.

Understanding how to properly complete a W-2 form is just the beginning. What comes next is ensuring all other employment and tax-related documents are in order, which helps both the employer and the employee navigate tax season without undue stress. By following the listed steps, you should find the process straightforward, but remember that maintaining accuracy is key. For any nuances or complex situations, don't hesitate to consult with a professional tax advisor or the IRS directly. By tackling this task with care, you're setting the stage for a smooth transition into the new financial year.

Frequently Asked Questions

What is a W-2 form and who gets one?

The IRS W-2 form, also known as the Wage and Tax Statement, is a document employers are required to send to each of their employees and the IRS at the end of the year. The primary function of the W-2 form is to report the employee's annual wages and the amount of taxes withheld from their paychecks. Generally, any employee who receives a salary, wage, or other form of compensation from an employer will receive a W-2 form. This includes full-time, part-time, and temporary employees.

When should I receive my W-2 form?

Employers are mandated to send out the W-2 forms to their employees by January 31st of the year following the reporting year. For instance, for the earnings of 2022, you should receive your W-2 by January 31, 2023. If January 31 falls on a weekend or a holiday, the deadline is extended to the next business day. If you haven't received your W-2 by the expected date, it's advisable to contact your employer to ensure they have your correct mailing address and inquire about the form's status.

What should I do if there are mistakes on my W-2 form?

If you discover errors on your W-2 form, the first step is to reach out to your employer for a corrected form. Common mistakes can include incorrect personal information, wages, or withholding amounts. Your employer can issue a corrected W-2, known as a W-2c, to rectify the errors. It's crucial to wait for the corrected W-2 before filing your taxes to avoid any discrepancies with the IRS. If your employer does not provide a corrected form promptly, you may contact the IRS for assistance.

Can I file my taxes if I haven't received my W-2?

If you haven't received your W-2 by the end of February, the first step is to contact your employer to request a copy, verifying they have your correct address. If you're still unable to obtain your W-2, you can contact the IRS for help. The IRS may contact your employer on your behalf to request the missing form. Alternatively, you can file your taxes using Form 4852, Substitute for Form W-2, Wage and Tax Statement. When using Form 4852, you'll need to estimate your wages and withholdings as accurately as possible, based on your last pay stub of the year. However, it's important to note that filing with an estimated W-2 may delay your refund.

Common mistakes

One common mistake made when filling out the IRS W-2 form is not double-checking the Social Security number. This critical piece of information ties your income to your Social Security benefits and tax obligations. An incorrect Social Security number can lead to significant processing delays and may cause issues with your tax return.

Another error often made is inaccurately reporting income. It's essential to report the exact amount of wages earned, as inaccuracies can lead to audits or penalties. It is also vital to understand the difference between gross wages and net pay; only gross wages should be reported on the W-2 form.

Taxpayers frequently overlook the importance of correctly identifying the tax year. Each W-2 form is applicable to income earned in a specific fiscal year. Submitting a form for the wrong year can complicate your financial records and delay tax processing.

One area that often causes confusion is box 12 on the W-2 form. This box may contain various codes that indicate different types of compensation or deductions, such as contributions to a retirement plan. Failing to understand what each code represents can lead to reporting errors.

Incorrectly completed state and local income tax fields are another common mistake. Depending on where you live and work, these taxes can vary widely. It's crucial to apply the correct rates and amounts to avoid discrepancies in your tax return.

Forgetting to include or improperly filling out the employer's information, such as the Employer Identification Number (EIN), is a mistake that can impede the processing of your tax documents. This information is necessary for the IRS to identify your employer.

Failing to check the box for statutory employees in box 13, when applicable, is another oversight. If you are a statutory employee, your tax obligations are different, and this box helps the IRS understand your employment status.

Not providing complete information on dependent care benefits and other fringe benefits in the respective sections is a mistake that could lead to unclaimed benefits or discrepancies with the IRS. These benefits can significantly affect your taxable income, and it is important to report them accurately.

Mishandling the earned income credit is another common error. If you qualify for earned income credit, it affects your tax obligation and potential refunds. Proper documentation and understanding of eligibility are crucial.

Lastly, failing to review the entire form for accuracy and completeness can lead to numerous issues. It is the simplest yet most crucial step in the process. A final review can catch any of the previously mentioned errors and ensure that your W-2 form accurately reflects your income and taxes for the year.

Documents used along the form

When filing taxes, the IRS W-2 form is essential for reporting an employee's annual wages and the amount of taxes withheld from their paycheck. However, several other documents often accompany the W-2 form to provide a comprehensive view of an individual's financial situation. These documents are crucial for accurately filing tax returns and ensuring compliance with tax laws.

  • IRS Form 1040: The cornerstone of personal tax filing, this form is used to report an individual's annual income, claim deductions, and calculate the amount of federal tax owed or refund due. It gathers detailed financial information to provide a complete picture of the taxpayer's financial responsibilities.
  • IRS Form 1099: This document is used for reporting income other than salaries, wages, and tips. It covers a wide range of income sources, such as dividends, interest earnings, and independent contractor income. Individuals with diversified income sources likely need to include information from a 1099 when filing their taxes.
  • Schedule A (Form 1040): For those who itemize deductions instead of taking the standard deduction, Schedule A is key. It allows taxpayers to itemize deductions such as mortgage interest, property taxes, medical and dental expenses, and charitable contributions, potentially lowering their taxable income.
  • Schedule D (Form 1040): This form is used to report capital gains or losses from the sale of assets like stock, real estate, or mutual funds. The form helps determine the tax implications of these sales, aligning gains and losses with the tax code's requirements.

Understanding and accurately completing these forms alongside the W-2 is vital for adherence to tax laws and ensuring the right amount of tax is paid or refunded. Failure to include necessary documentation can lead to audits, penalties, or missed opportunities for deductions. Keeping detailed financial records and consulting with a tax professional can help navigate these requirements effectively.

Similar forms

The IRS 1099 form shares similarities with the W-2 form, primarily because it also reports income. However, instead of wages earned by an employee, the 1099 form is used for reporting income earned by independent contractors, freelancers, and other non-employee workers. This form includes various types such as 1099-MISC for miscellaneous income, 1099-INT for interest income, and 1099-DIV for dividends and distributions. Like the W-2, it provides crucial information for tax filing purposes, ensuring the IRS receives accurate reports of an individual's annual income from diverse sources.

Similarly, the W-4 form is closely related to the W-2 in its role in the employment tax process. The W-4, also known as the Employee's Withholding Certificate, is filled out by employees to inform employers about how much tax to withhold from their paycheck. This form affects the information reported on the W-2 form, as it directly influences the amount of federal income tax withheld throughout the year. The correlation between the W-4 and the W-2 forms underscores their combined importance in accurately reporting and withholding income tax.

The 1040 tax return form is another document deeply intertwined with the W-2 form. The 1040 form is used by individuals to file their annual income tax returns with the IRS. Information from the W-2 form, such as wages earned, federal and state taxes withheld, Social Security and Medicare earnings, is essential for accurately completing the 1040. This information helps calculate the amount of tax owed or the refund due to the taxpayer, making the W-2 a critical document for tax preparation and filing.

The Schedule SE (Self-Employment Tax) form also shares a connection with the W-2, albeit indirectly, because it deals with the reporting of earnings and payment of taxes. Self-employed individuals use the Schedule SE to calculate Social Security and Medicare taxes based on their net earnings from self-employment. While the W-2 reports income earned by employees and the taxes withheld by employers, the Schedule SE accounts for the tax responsibilities of self-employed individuals. Both forms are crucial for ensuring individuals fulfill their Social Security and Medicare tax obligations accurately.

Dos and Don'ts

When it comes to filing your IRS W-2 form, ensuring accuracy and compliance with the guidelines can save you from potential headaches and complications down the line. Here's a list of dos and don'ts that will guide you through the process:

  • Do double-check the employee's Social Security Number (SSN) and legal name. This is crucial for the IRS's ability to accurately match records.
  • Do report all compensation in the correct boxes, including wages, tips, and other forms of compensation. Misplacing figures can lead to unnecessary confusion.
  • Do include all necessary details about the employer, such as the Employer Identification Number (EIN), legal name, and address, ensuring these match the records the IRS has.
  • Do use the current year's form. The IRS updates forms regularly, and using an outdated version could invalidate your submission.
  • Do verify state and local tax information if applicable. Different states have unique requirements and rates that must be accurately reflected.
  • Don't forget to distribute W-2 forms to your employees by the IRS deadline, which is typically January 31st of the year following the reported earnings. Late distribution can lead to penalties.
  • Don't neglect electronic filing options. If you are required to file 250 or more W-2 forms, the IRS mandates electronic submission, which is also more efficient for fewer forms.
  • Don't include incorrect year's information or use the form to report income not pertinent to W-2 reporting like self-employment earnings. This could cause discrepancies and processing delays.
  • Don't hesitate to seek professional advice if you're uncertain about the filing process. Missteps can lead to audits or penalties, so consulting with a tax professional can be a prudent measure.

Following these guidelines can help ensure that your W-2 forms are filled out accurately and submitted on time, keeping you compliant and making the tax season a little less stressful.

Misconceptions

The IRS W-2 form is an essential document for both employees and employers in the United States, detailing the amount of wages paid and taxes withheld for the year. Despite its importance, there are several common misconceptions surrounding the W-2 form. Let's clear up some of these misunderstandings.

  • Only full-time employees need to worry about the W-2. This is not true. Part-time employees, seasonal workers, and even employees who were terminated during the tax year should receive a W-2 form if they were on the payroll and had taxes withheld from their earnings.

  • You only need your last pay stub to file your taxes, not your W-2. Your last pay stub may not provide all the necessary information required for accurate tax filing, such as state tax withholdings. The W-2 form is the official document needed for tax filing purposes.

  • If you don't receive your W-2, you can't file your taxes. If you don't receive your W-2 by the deadline (usually January 31), contact your employer. If you still don't receive it, you can contact the IRS or file using Form 4852 as a substitute.

  • The W-2 only reports your income. The W-2 form reports more than just income; it also details federal and state taxes withheld, contributions to retirement plans, and other deductions from your paycheck.

  • Corrections to a W-2 can't be made after it's sent to the employee. Employers can issue a corrected W-2, known as a W-2c, if there are any errors on the original form.

  • An electronic W-2 is not valid for tax filing. This is false. An electronic W-2 is just as valid as a paper form, as long as it meets the IRS guidelines and you're able to provide a copy if the IRS requests it.

  • You don't need to attach your W-2 to your tax return. If you are filing a paper tax return, you do need to attach your W-2. However, if you file electronically, you typically do not need to submit physical copies of your W-2.

  • Getting a W-2 means you're not responsible for estimating taxes or making quarterly payments. Self-employed individuals and contractors who receive a W-2 from a side job still need to estimate and pay taxes quarterly for their self-employment income. The W-2 covers only the taxes for the specific job it was issued for, not other sources of income.

Understanding these key points about the W-2 form can make tax season a little less daunting. Always ensure you keep accurate records and consult a tax professional if you have questions about your specific situation.

Key takeaways

The Internal Revenue Service (IRS) W-2 form is a critical document that is used to report an employee's annual wages and the amount of taxes withheld from their paycheck. Understanding how to properly fill out and utilize this form is essential for both employers and employees. Here are key takeaways to ensure accuracy and compliance:

  • Deadlines matter: Employers must send the W-2 form to employees and the Social Security Administration (SSA) by January 31st of the year following the reported wages. This ensures timely filing of income tax returns by employees.
  • Accuracy is crucial: To prevent errors, double-check the Social Security numbers (SSNs) and the spelling of the employee names. Incorrect information can lead to processing delays or incorrect tax calculations.
  • Understand the boxes: The W-2 form consists of multiple boxes that report various elements of an employee’s annual earnings and deductions. Knowing what each box represents is essential for accurate reporting. For example, Box 1 shows total taxable wages, while Box 2 shows federal income tax withheld.
  • State and local taxes: If applicable, employers need to fill out state and local tax information in Boxes 15 through 20. This varies depending on the employer's and employee's location.
  • Multiple W-2s: Employees working for multiple employers in the same tax year might receive a W-2 form from each employer. Conversely, employers must issue a separate W-2 form for each state or local tax jurisdiction where the employee worked.
  • Electronic W-2 forms: Employers can issue W-2 forms electronically, but they must obtain the employee’s consent to do so. This option is environmentally friendly and can expedite the process.
  • Correcting errors: To correct errors on a W-2 form, employers must fill out a W-2c, Corrected Wage and Tax Statement. Timely correction of errors is important to avoid penalties.
  • Confidentiality: W-2 forms contain sensitive personal information. Employers are responsible for ensuring the confidentiality of these forms during distribution and storage.
  • Recordkeeping: Employers must keep copies of W-2 forms for at least four years. This documentation can be requested by the employee or required during an audit.
  • IRS support: For questions or concerns regarding the W-2 form, employers and employees can seek guidance directly from the IRS or from a tax professional. This ensures that any issues can be resolved efficiently and in compliance with tax laws.
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