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  Employers and employees scramble to prepare their financial statements and reports during tax season. This ensures they can submit their tax returns on time, as the US government requires. Two documents have come up and need clarification for employees. These are pay stubs and W-2 forms. Employees sometimes need help telling the differenc...

As the deadline for the annual filing of Form W-2 comes near, all employees need to prepare their tax returns before the income tax due date. You should be aware of where your tax documents are stored and if you have received them from your employer. When filling out Form 1040 (Individual Income Tax Return Form), you need a Form W-2 (Wage and Ta...

Each year, millions of taxpayers receive a W-2 form from their employers as proof of their income. Unfortunately, not all of these forms are accurate or even real. It is essential to know how to spot a fake W-2 to protect yourself from becoming a victim of identity theft or tax fraud.  Knowing the elements that make a fake W-2 can help you st...

A W-2 Form is an Internal Revenue Service (IRS) form that employers must use to report wages and taxes withheld from employees’ paychecks. It also includes other income, such as tips, bonuses, commissions, or other compensation. Employers have several responsibilities when it comes to issuing W-2 Forms.   Understanding what these requi...

IRS forms W-2 and W-4 both have to do with employers and their employees. However, the difference between W-2 and W-4 forms lies in how they function and who should fill out and complete the documents.This article explains the W-4 form vs W-2, distinguishing one from another. It covers their differences in terms of purpose, who completes them, when...

When filing your tax return, you would always spot a column to figure out your adjusted gross income, or more commonly known as AGI. This is a crucial step in calculating and arriving at your taxable income and tax liability for a given tax year.Knowing how to calculate AGI from W-2 form is an essential skill every taxpayer should possess. As a non...

One factor that every small business owner should not overlook and treat as important as others is the wage and tax statement form, also known as the W-2 form. Each year by January 31, employers must send to employees these forms to file their income tax returns.W-2 tax forms demand attention when filing. Failure to submit on time and improperly en...

When hiring new employees for your company, you have several alternatives. W-2 employees and 1099 contractors are the two most typical employment arrangements. W-2 employees are entitled to legal protections such as minimum pay, overtime, and medical and family leave. They are also entitled to your benefits, such as health and dental insurance, fr...