The IRS W-2 form is a crucial tax document that reports an employee's annual wages and the amount of taxes withheld from their paycheck. It serves as proof of income, making it essential for filing accurate tax returns. If you're ready to tackle your taxes, ensure you've got all the details filled out correctly on your W-2 form by clicking the button below.
Every year, as the calendar rolls towards its end, both employers and employees turn their attention towards a critical piece of financial documentation: the IRS W-2 form. This form, a staple in the American tax system, operates as a bridge between the income individuals receive from their place of employment and the tax responsibilities they must fulfill. It meticulously outlines the wages earned and the taxes withheld over the course of a year, serving not only as a record for the employee but also as a crucial document for the Internal Revenue Service (IRS) to ensure that the proper amount of taxes is collected. Employers are mandated to furnish these forms to their employees and the IRS by a set deadline, a task that underscores the importance of accuracy and timeliness. Beyond its basic function, the W-2 form can influence an individual’s tax return, affecting potential refunds or dues. Given its central role in the financial lives of millions, understanding the nuances of the W-2 form becomes essential, from its various boxes filled with financial data to the implications it carries for tax filing purposes. In essence, this form encapsulates the fiscal relationship between employer, employee, and the federal tax system, making it a cornerstone of yearly financial planning and obligations.
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
14 Other
12c
12d
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
a Employee’s social security number
12a
Copy 1—For State, City, or Local Tax Department
Safe, accurate,
Visit the IRS website at
FAST! Use
www.irs.gov/efile
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
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.
Copy C—For EMPLOYEE’S RECORDS
(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)
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.
Copy D—For Employer
Act Notice, see separate instructions.
After a year of hard work, everyone must report their earnings to the Internal Revenue Service (IRS). A crucial document in this process is the W-2 form, which employers must fill out for each of their employees. This form reports the amount of taxes withheld from a paycheck and is essential for individuals in preparing their annual tax returns. Understanding how to correctly fill out this form is critical for both accurate tax reporting and compliance with federal regulations. The following steps are designed to guide employers through this process effortlessly.
Filling out the W-2 form accurately and promptly ensures compliance with U.S. tax laws and helps prevent issues with employee tax filings. By following the listed steps, employers can efficiently complete this process and contribute to the smooth functioning of the national taxation system.
What is a W-2 form?
The W-2 form, also known as the Wage and Tax Statement, is a document that employers must send to their employees and the Internal Revenue Service (IRS) at the end of the year. It reports an employee’s annual wages and the amount of taxes withheld from their paycheck.
Why do I need a W-2 form?
You need a W-2 form to file your federal and state taxes. The information on the W-2 form helps you determine how much income tax you owe or how much you will receive as a refund. Without it, you can't accurately complete your tax return.
When should I receive my W-2 form?
Employers are required to send out W-2 forms by January 31st of the year following the tax year. For example, for the 2022 tax year, your W-2 should be mailed to you by January 31, 2023. If you haven’t received it by mid-February, it’s advised to contact your employer.
What should I do if I find an error on my W-2?
If you discover an error on your W-2 form, you should immediately contact your employer to issue a corrected form. This is crucial for ensuring that the information accurately reflects your earnings and tax withholdings.
Can I file my tax return if I haven’t received my W-2?
If you haven’t received your W-2 by the IRS deadline, you can use Form 4852, Substitute for Form W-2, Wage and Tax Statement. This form allows you to estimate your income and withholding taxes as accurately as possible. However, filing a corrected tax return may be necessary once you receive your W-2.
How do I request a duplicate W-2 form from my employer?
To request a duplicate W-2, contact your employer’s payroll or human resources department. Provide them with your full name, social security number, and the tax year of the W-2 form you’re requesting. Some employers may also offer electronic access to your W-2.
What information is included on a W-2 form?
What if I worked for multiple employers in one year?
If you worked for more than one employer in a tax year, you should receive a W-2 form from each employer. It's important to use the information from all W-2 forms received to complete your tax return accurately.
Is a W-2 the same as a pay stub?
No, a W-2 form is not the same as a pay stub. While a pay stub summarizes an employee's earnings and deductions for a specific pay period, the W-2 form provides annual tax and wage information that employers report to the IRS.
Can I access my W-2 online?
Many employers offer the option to access your W-2 form online. This option can be more convenient and faster than waiting for a paper version. Check with your employer’s payroll or human resources department to see if this option is available to you.
Filling out the IRS W-2 form is a crucial annual task for employers, as this document reports an employee's annual wages and the amount of taxes withheld from their paycheck. However, the process is fraught with potential errors. Understanding these mistakes can help ensure the accuracy of the information submitted to the Internal Revenue Service (IRS) and reduce the likelihood of issues for both the employer and the employee.
Incorrect Social Security Numbers: One common error is the inadvertent entry of incorrect Social Security numbers. Such mistakes can lead to mismatched records and processing delays.
Misspelled Names: Names must precisely match the Social Security Administration's records. Any deviation, no matter how slight, can trigger inquiries or processing delays.
Wrong Addresses: Failing to update or incorrectly entering an employee's address can complicate the delivery of important tax documents.
Misreported Wages: Reporting incorrect wage amounts not only affects an employee's tax liabilities but can also attract IRS penalties for inaccurate reporting.
Incorrect Tax Amounts: Similar to misreported wages, entering the wrong amount of taxes withheld can cause significant problems for both parties at tax time.
Incorrect or Missing State Information: For employees who work in states with state income tax, failing to include this information or reporting it inaccurately can lead to state tax filing issues.
Failure to Distribute Copies: Employees must receive their copies of the W-2 by the required deadline, and a failure to do so can result in penalties.
Filing Duplicate Forms: Submitting more than one W-2 for an employee in the same tax year can cause confusion and delays in processing.
Not Reporting All Benefits: Employers sometimes overlook or misunderstand the need to report certain benefits, such as health insurance or retirement contributions, which can lead to underreported income.
Procrastination: Waiting until the last minute to prepare and file W-2 forms can lead to rushed mistakes and missed deadlines.
Avoiding these common mistakes requires attention to detail, a thorough understanding of payroll information, and timely action. Here are a few tips to help ensure a smoother process:
Double-check all entries for accuracy, especially Social Security numbers and financial amounts.
Regularly update employee information to reflect any changes, such as address or marital status.
Utilize available IRS resources and guidelines to clarify any uncertainties about reporting requirements.
Consider using payroll software to automate and minimize the risk of human error.
Allow ample time before the filing deadline to review, correct, and submit the W-2 forms.
By being proactive and meticulous, employers can greatly reduce the likelihood of W-2 related errors and ensure a smoother tax process for everyone involved.
When preparing for tax season, individuals and professionals alike gather numerous documents to ensure a comprehensive approach to their tax filings. Among these, the IRS W-2 form is fundamental for employees, detailing their annual wages and the amount of taxes withheld from their paycheck. However, to build a complete financial picture for the year, several other forms and documents are often used alongside the W-2. Understanding these documents can facilitate a smoother tax preparation process.
Each of these documents plays a specific role in the broader context of an individual's tax scenario. From reporting various types of income to claiming eligible tax deductions and credits, assembling these forms alongside the IRS W-2 form contributes to a thorough and accurate tax return. Professionals and taxpayers alike should familiarize themselves with these documents to ensure they are well-prepared for tax season.
IRS Form 1099-MISC: Similar to the W-2, the 1099-MISC form is used to report payments made to independent contractors or freelancers, rather than employees. While the W-2 reports wages, tips, and other compensation paid to an employee, the 1099-MISC captures payments for services performed by non-employees, showcasing the different ways payments to workers are documented for tax purposes.
IRS Form 1099-NEC: The 1099-NEC form, which stands for Nonemployee Compensation, is used to report compensation paid to individuals who are not considered employees, such as independent contractors. This form was recently revived to specifically distinguish nonemployee compensation from other types of payments reported on the 1099-MISC, highlighting the IRS’s nuanced approach to different types of worker compensation.
IRS Form W-4: Although the W-4 form is not used for reporting wages or income to the IRS, it is closely related to the W-2 form in the employment context. Employees fill out the W-4 to indicate their tax situation to their employers, dictating how much federal income tax to withhold from their wages. The information on a W-4 directly impacts what appears on a W-2 at the end of the year, showcasing a direct relationship between withholding preferences and reported earnings.
IRS Form 1099-INT: Used for reporting interest income, the 1099-INT form parallels the W-2 in its role as a reporting document for a specific type of income. Just as the W-2 reports wages earned from employment, the 1099-INT reports interest income earned from investments, bank accounts, and other sources, underscoring the breadth of income reporting requirements beyond salaries and wages.
IRS Form 1040: The Form 1040 is the individual income tax return form and it is where information from W-2 forms and various 1099 forms is consolidated to calculate an individual’s total taxable income for the year. While it is not similar in the type of information reported, it is integral to the process, serving as the culmination of an individual's annual tax reporting journey, and highlighting its central role in income tax filing.
IRS Schedule C (Form 1040): This form is used by sole proprietors to report profits or losses from their business. It is similar to the W-2 as it involves reporting income to the IRS, but it differs in that it is used by individuals who are self-employed. This illustrates the adaptability of the tax reporting system to accommodate a variety of income sources and employment situations.
Filling out the IRS W-2 form is a critical task for employers, as it involves reporting annual wage and tax information for employees to the IRS. To ensure accuracy and compliance, here are some dos and don'ts to consider:
Do:
Don't:
The Internal Revenue Service (IRS) W-2 form is an essential document that reports an employee's annual wages and the amount of taxes withheld from their paycheck. However, there are several misconceptions about the W-2 form that can lead to confusion. Understanding the truth behind these misconceptions can help individuals navigate tax season more effectively.
The IRS W-2 form is an essential document that reports an employee's annual wages and the amount of taxes withheld from their paycheck. Understanding how to properly fill out and use this form is crucial for both employers and employees. Here are key takeaways to keep in mind:
Filling out and understanding the W-2 form is fundamental for proper tax reporting and compliance. By keeping these key points in mind, both employers and employees can navigate the complexities of tax season with greater ease and accuracy.
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