Get the free Draft W-2 Form - HR Policy Association

Doc 2010-22133 (3 pgs) Media Relations Office Washington, D.C. www.IRS.gov/newsroom Media Contact: 202.622.4000 Public Contact: 800.829.1040 IRS Releases Draft W-2 Form for 2011; Announces Relief

How to fill out draft w-2 form

How to fill out a draft W-2 form:

1. Start by obtaining the necessary form: You can download a draft W-2 form from the Internal Revenue Service (IRS) website or request a copy from your employer.
2. Identify your employer information: Enter your employer's name, address, and Employer Identification Number (EIN) in the designated sections of the form. Ensure the information is accurate and matches your employment records.
3. Provide your personal details: Fill in your name, address, and Social Security Number (SSN) in the appropriate fields on the W-2 form. Double-check that the information matches exactly what is on your Social Security card to prevent any discrepancies.
4. Input income details: Report your total wage, salary, and tip income received from your employer throughout the tax year in Box 1. This includes any bonuses, commissions, or other forms of compensation. Ensure the amount is accurate by referring to your pay stubs or employment records.
5. Report federal income tax withholding: In Box 2, enter the total amount of federal income tax withheld from your wages during the year. This information can be found on your year-end pay stub or W-2 statement from your employer.
6. Enter Social Security and Medicare wages: In Boxes 3 and 5, respectively, report your earned income that is subject to Social Security and Medicare taxes. These amounts may differ from your total wages due to certain deductions or exemptions.
7. Provide Social Security and Medicare tax withholding: Enter the amount of Social Security taxes withheld in Box 4 and Medicare taxes withheld in Box 6. These values should match the amounts shown on your pay stubs or W-2 statement.
8. State and local tax reporting: If applicable, report any state and local income taxes withheld by your employer in Boxes 15-20. The specific boxes vary depending on your state of residence. Refer to your state's tax department or instructions provided with the W-2 form for accurate reporting.
9. Verify information and submit: Before submitting your draft W-2 form, review all the entered information to ensure its accuracy. Any mistakes or inconsistencies could lead to tax filing issues. Once everything is verified, provide the W-2 form to your employer or tax preparer for processing.

Who needs a draft W-2 form:

1. Employees: If you are an employee working for an employer, you will typically need a draft W-2 form. This form summarizes your earnings, taxes withheld, and other relevant information required for filing your income tax return.
2. Employers: Employers are responsible for preparing and issuing draft W-2 forms to their employees. This form helps both the employer and employee accurately report wage and tax information to the IRS.
3. Self-employed individuals: While self-employed individuals do not receive a W-2 form, they may need to prepare a similar form called a 1099-MISC to report their income. The 1099-MISC form serves as a record of income received from clients or businesses throughout the year.

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What is draft w-2 form?

The draft W-2 form is a preliminary version of the official W-2 form that is used to report an employee's annual wages and the amount of taxes withheld from their paycheck.

Who is required to file draft w-2 form?

Employers are required to file draft W-2 forms for each employee they paid a wage to during the year.

How to fill out draft w-2 form?

To fill out a draft W-2 form, employers need to provide information such as the employee's name, social security number, wages earned, and taxes withheld.

What is the purpose of draft w-2 form?

The purpose of the draft W-2 form is to report wages and taxes withheld for each employee to the IRS.

What information must be reported on draft w-2 form?

Information such as the employee's name, social security number, wages earned, taxes withheld, and any other compensation or benefits received must be reported on the draft W-2 form.