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12/2022 LABOR LAW UDC 349.2 DOI https://doi.org/10.32849/26635313/2022.12.03Valentyn Meany, PhD in Law, Associate Professor, Associate Professor at the Department of Legal Support of Economic Activity
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Forms of compensation are used to report earnings, benefits, and other forms of payment provided to individuals by an employer or organization.
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The purpose of forms of compensation is to accurately report income to tax authorities, ensure compliance with tax laws, and provide necessary information for an employee's tax obligations.
Information that must be reported includes the recipient's name, Social Security number, total compensation amount, and any withheld taxes or deductions.
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