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Understanding your Forms W2 and 1042S Each year, employees will receive a Form W2 that provides details of prior year earnings, taxes withheld and other miscellaneous data (such as cost of employer
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The W-2 form is a statement that reports an employee's annual wages and the amount of taxes withheld from their paycheck.
Employers are required to provide employees with a W-2 form and also submit a copy to the IRS.
Employees need to input their personal information, wages, and tax withholding information on the W-2 form.
The purpose of the W-2 form is to report employee wages and taxes withheld to the IRS.
The W-2 form must include employee's wages, tips, and other compensation, as well as federal and state tax withholding.
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