W2

W-2, or Form W-2, is a United States payroll tax form used to report an employee’s annual wages and the taxes withheld by an employer. It serves as the official record of earnings and withholdings for the calendar year and is used to prepare an individual’s federal, and often state and local, income tax returns.

Employers are responsible for preparing a W-2 for each employee who earned wages or other compensation during the year. The employer submits the form to the Social Security Administration and provides copies to the employee. In many jurisdictions, additional copies are filed with state or local tax authorities as required.

The W-2 lists several categories of information. Typical entries include total wages, tips, and other compensation; Social Security wages; Medicare wages and tips; federal income tax withheld; Social Security and Medicare tax withheld; and, where applicable, state and local wages and taxes. It also includes identifying information such as the employer’s and employee’s names, addresses, and taxpayer identification numbers.

Deadlines and use: employers usually must furnish employees with their W-2 by January 31 of the year following the tax year. Employees use the information on the W-2 to complete Form 1040 or other individual income tax returns. Employers file copies with the Social Security Administration, often accompanied by Form W-3 as a transmittal; penalties can apply for late or incorrect submissions.

W-2 is part of the broader W-2 family of forms, which also includes variants such as W-2G for gambling winnings and W-2c for corrected wage statements. See also W-3 for the transmittal form and related payroll tax reporting requirements.