W2s

W-2 forms, commonly referred to as W-2s, are documents used in the United States to report an employee’s annual wages and the taxes withheld from those wages. The form is issued by employers to employees and is also filed with the Internal Revenue Service (IRS) and the Social Security Administration (SSA). W-2s are a key source of information for individual income tax returns and for verifying withholding.

Contents and purpose: A W-2 summarizes wages, tips, and other compensation for the year and itemizes federal, state, and local tax withholdings. It includes boxes for federal income tax withheld, Social Security wages and tax withheld, and Medicare wages and tax withheld, along with other amounts such as allocated tips, dependent care benefits, and retirement or other compensation codes. Box 13 may indicate statutory employee status or participation in certain retirement plans, while Box 14 and Boxes 15–20 capture state and local wage and tax information where applicable. The exact boxes and codes can vary by year and jurisdiction.

Distribution and deadlines: Employers must furnish W-2 forms to employees by January 31 of the following year. They must also file copies with the SSA, with filing deadlines typically in late February for paper submissions and extended timelines for electronic submissions, subject to IRS rules and extensions.

Use and privacy: Employees use W-2 information to complete annual tax returns and to reconcile payroll withholding with tax liability. Because W-2 data includes sensitive identifiers and financial details, it should be stored and transmitted securely.

Relation to other forms: W-2s are distinct from other employment forms such as the 1099 series (used for independent contractors) and the Form W-4 (employee withholding allowances provided to the employer).