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2015 Maryland Employer Reporting of W2s Instructions and Specifications August 2015 Revenue Administration Division Annapolis, MD 214110001 Peter Franc hot, Comptroller Table of Contents Document

How to fill out reporting of w2s

How to fill out reporting of W-2s:

1. Gather necessary information: Before filling out the reporting of W-2s, gather all the required information such as employee details, wages, and tax withholdings. Make sure you have accurate and up-to-date records.
2. Obtain Form W-2: You can obtain Form W-2 from the Internal Revenue Service (IRS) website or by visiting your local IRS office. Ensure you have the correct version of the form for the corresponding tax year.
3. Employer and employee information: Fill in the employer's details, including their name, address, and employer identification number (EIN). Also, provide the employee's details, such as their name, Social Security number, and address.
4. Wage reporting: Report the employee's wages in Box 1. This includes their taxable wages, salaries, tips, bonuses, and other compensations. Ensure you accurately report the correct amount.
5. Social Security and Medicare wages: Enter the employee's Social Security wages in Box 3 and Medicare wages in Box 5. These amounts are calculated based on a specific wage limit set by the IRS each year.
6. Social Security and Medicare tax withholding: Report the amounts of Social Security tax withheld in Box 4 and Medicare tax withheld in Box 6. These are calculated based on the employee's earnings and the applicable tax rates.
7. State and local taxes: If applicable, report any state and local taxes withheld from the employee's wages in the appropriate boxes. Different states may have different requirements, so be sure to comply with the regulations of the specific jurisdiction.
8. Check for accuracy: Double-check all the information on the W-2 form to ensure accuracy. Mistakes or discrepancies may lead to delays in processing or potential penalties.

Who needs reporting of W-2s:

1. Employers: Employers are required to report W-2 information to the IRS for each employee they have paid wages to during the tax year. This helps the IRS ensure that employees' income and tax withholdings are accurately reported.
2. Employees: Employees need reporting of W-2s to accurately file their income tax returns. The W-2 form provides information on their wages earned, taxes withheld, and any other necessary details for their tax filing obligations.

Note: It is essential to consult a tax professional or refer to the IRS guidelines for specific instructions and any updates regarding the reporting of W-2s.

For pdfFiller’s FAQs

What is reporting of w2s?

Reporting of w2s is a form that employers use to report wages paid to employees and taxes withheld from those wages to the Internal Revenue Service (IRS).

Who is required to file reporting of w2s?

Employers are required to file reporting of w2s for each employee who was paid wages during the calendar year.

How to fill out reporting of w2s?

Employers can fill out reporting of w2s by entering the employee's information, wages paid, and taxes withheld in the appropriate boxes on the form.

What is the purpose of reporting of w2s?

The purpose of reporting of w2s is to report wages and taxes withheld to the IRS and provide employees with the information they need to file their individual tax returns.

What information must be reported on reporting of w2s?

Information that must be reported on reporting of w2s includes the employee's name, address, Social Security number, wages paid, and taxes withheld.

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