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IRS: W-2 Form for wages and taxes explained

Americans have already started filing their taxes with the IRS, but in order to do so they need to have their W-2 Form.

W-2 form sent by employers for filing taxes and reporting income to the irs

What is IRS Form W-2?

The W-2 reports information surrounding your federal and state taxes when they are withheld from your paychecks.

It also has Social Security and Medicare tax information.

The form contains details surrounding healthcare, dependents, and HSA accounts.

You should have received your W-2 form from your employer in January or early February.

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Why is my W-2 so important to the IRS?

You’ll see your W-2 forms early in the year before tax season starts and it will have all of your wage information from the previous year.

If taxes were withheld you will certainly get one.

Your employer has until Jan. 31 to send your form to you.

Many will see their form by Jan. 31, but legally it is required for it to be mailed by that date.

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This means some may not see it until Feb.

Employers need to file W-2s with Social Security by Jan. 31.

Despite requesting extensions with the SSA, employers still need theirs in time.

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