The W-2 Wage and Tax Statement form reflects an employee’s yearly pay as well as any taxes withheld. Businesses must deliver W-2 forms to workers no later than January 31, one month after the end of the fiscal year, which is normally December 31. Businesses retain a copy of the W-2 for their records and send other copies to the employee, the Social Security Administration, the Internal Revenue Service, and state and local governments that mandate tax withholdings.
Employers will require the following information to complete the W-2 form:
Name, location, and Social Security Number of the employee
TIN (Taxpayer Identification Number) (also called a federal tax ID number)
Name, address, and zip code of the employer
Wages, tips, and other forms of remuneration for employees (including non-qualified retirement plans)
The amount of federal income tax deducted from these earnings.
Wages for social security and the amount of social security tax deducted from employees
Wages for Medicare and the amount of Medicare tax withheld
The amount of tips received and reported by the employee
Any payments made in advance for the Earned Income Tax Credit
Any benefits for dependents
State and municipal income and tax information
Further W-2 tax filing instructions for employers may be found at the IRS, or you can go right to the W-2 form.
