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What are W 2s?

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โˆ™ 2012-04-30 03:02:05

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A W-2 is a form that is given to you at the end of the year by your employer.

The form shows how much taxable income you were paid and how much tax was taken out of your pay for the whole year.

You use the information on Form W-2 to fill out what is called a "tax return." A federal tax return is Form 1040. You fill out this form to calculate whether your employer took out the right amount of tax. Then you send it in to the government. If your employer took out too much, the government sends you a check called a "tax refund." If your employer took out too little, you have to send a check to the government. FYI, many people mistakenly call the tax refund check a "return." A return is the form you send to the government.

If you live or work in a state that has an income tax, you will also have to fill out a state return and send it to your state government.

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Pierce Farrell

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โˆ™ 2022-07-05 22:46:02
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Related questions

When will I get my W-2?

The federal government requires W-2s to be distributed by January 31.


Does child support show up on a w- 2?

No. W-2s are for earned income.


Where are Tyson w-2s online?

Online W-2s are only available to current employees of Tyson who have filled out an online consent form. They can be retrieved by going to the company's website.


Where can you download employee W-2 forms?

There are several sites where W-2s may be downloaded. I assume you are talking about specific W-2s for an employee, not a blank one. If you think your employer posts electronic W-2s, check with the human resources department of your company. One of the largest sites for employee W-2 downloads is www.w2express.com. But you will need info from your company in order to access your W-2. Hope this helps.


When does Algrens send out W-2 forms?

All W-2s should be distributed by January 31.


How can a former employee get current W-2s from the internet?

You will have to contact your former employer's payroll department to get that information. If you can't retrieve your W-2s on-line, you will be able to get a duplicate copy from the employer or the necessary information from the IRS.


When does tax season for 2010 start?

Usually the beginning of January. Basically when you get your W-2s.


How can you get your w-2s if you never received them in the mail?

I dont know what happen, but I did not get my w2s in the mail.


Can you hand out employee w-2s or do they have to be mailed?

You can do either, as long as they receive it by January 31


Do you file both your w-2s separately?

No, you file the w-2s together. You can use a software program or go to a professional. TurboTax has a free service. If you just do the taxes yourself, you add the amounts together for each box. Hope this helps!


What date will w2s be distributed?

Businesses are required to distribute W-2s before the end of January.


What is the penalty for businesses that don't mail w-2s on time?

If you send them out late, you'll incur a $50 penalty for each W-2

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