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W-2 Form: Everything You Need To Know About Employer's Responsibilities

Jan 17, 2023
Time to read: 8 Minutes

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...

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Legal Benefits Of W-2 Form For Employees

Jan 21, 2023
Time to read: 3 Minutes

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...

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How to Calculate AGI (Adjusted Gross Income) from W-2

Jan 28, 2023
Time to read: 10 Minutes

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...

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W-2 vs. W-4: What's the Difference and How to File?

Jan 28, 2023
Time to read: 10 Minutes

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...

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How Can I Get a Copy of My W2 If I Lost It?

Jan 27, 2023
Time to read: 9 Minutes

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 ...

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W-2 Wage and Tax Statement Form For Small Business

Jan 21, 2023

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...

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