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Form W-2 Informational Reporting of the Cost of Employer-Sponsored Group Health Plan Coverage This chart is based on IRS Notice 2012-9, which, until further guidance, contains the requirements for

How to fill out form w-2 informational reporting

How to fill out Form W-2 informational reporting:

1. Start by gathering the necessary information: You will need the employer's identification number (EIN), as well as the employee's name, address, and Social Security number. Additionally, you will need information about the employee's wages, tips, and other compensation.
2. Fill in Box A: In Box A, enter the employee's Social Security number. Ensure that the number is accurate and matches the employee's records.
3. Complete Box B: Box B requires the employer's EIN. Double-check that the EIN is correct and matches the employer's records.
4. Fill in Box C: Box C is for the employee's name. Enter the employee's full name as it appears on their Social Security card.
5. Complete Box D: Box D is for the employer's address. Enter the complete address, including street, city, state, and ZIP code.
6. Fill in the appropriate boxes for wages, tips, and other compensation: Boxes 1, 3, 5, and 7 are used to report various types of income. Enter the relevant amounts in each box, following the specific instructions provided by the IRS.
7. Complete Boxes 2, 4, 6, and 8: These boxes are used to report federal income tax withheld, Social Security wages, Social Security tax withheld, and Medicare wages and tips, respectively. Enter the appropriate amounts based on the employee's income and tax withholding.
8. Fill in Boxes 9, 10, 11, and 12: These boxes are optional and can be used to report state and local information. If required, enter the applicable amounts according to the state and local tax regulations.
9. Complete Boxes 13, 14, and 15: These boxes are for the employer's name, address, and EIN. Enter the corresponding information accurately.

Who needs Form W-2 informational reporting?

1. Employers: Employers are required to file Form W-2 for each employee they have as per the IRS guidelines. This applies to both businesses and household employers who pay wages to their employees.
2. Employees: Form W-2 is essential for employees as it reports their wages, tip income, and tax withholdings for the year. Employees will need this form to accurately file their federal and state tax returns.
3. Government Agencies: Government agencies, such as the Internal Revenue Service (IRS), rely on Form W-2 to ensure accurate income reporting and track tax liabilities. It enables them to verify that employees and employers are fulfilling their tax obligations.

Note: It is crucial to consult the IRS instructions and guidelines for Form W-2 to ensure accurate completion and reporting.

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What is form w-2 informational reporting?

Form W-2 is used to report wages and tax withholding information for employees.

Who is required to file form w-2 informational reporting?

Employers are required to file Form W-2 for each employee to whom they paid wages during the year.

How to fill out form w-2 informational reporting?

Form W-2 should be filled out with accurate wage and tax withholding information for each employee and submitted to the IRS.

What is the purpose of form w-2 informational reporting?

The purpose of Form W-2 is to report income and tax withholding information to the IRS and the employee.

What information must be reported on form w-2 informational reporting?

Form W-2 must include the employee's wages, tips, and other compensation, as well as federal, state, and local tax withholding.