W2 Form

W2 Form

See Also:
Cash Flow After Tax
Deferred Income Tax
Form 1098
Marginal Tax Rate

W2 Form Definition

The W2 form definition is used by employers to report employees‘ wages to the Internal Revenue Service (IRS). The W-2 is also used to report the amount of taxes that have been withheld from each paycheck.

W2 Form Explanation

The W2 form is required to be filled out by January 31 of every year by employers. The IRS requires this because it wants to measure an employee’s W 2 earnings on a calendar year instead of the company’s fiscal year. Often times an employee is required to fill out more than one w-2 if that employee works in more than one state. Other times two forms are required if a person works in one state, but lives in another. Overall, the W2 is used by the IRS to match up wages and calculate tax amounts for FICA and Social Security.
In order to determine which candidates are the right fit for your company, download and access your free white paper, 5 Guiding Principles For Recruiting a Star-Quality Team.
w2 form definition
w2 form definition

Strategic CFO company logo with slogan.

Transform your finance operations with NearSourcing™ Accounting Solutions

and see the benefits firsthand with a
FREE Consultation Session.

Share This Article
Top Articles


Financial Leadership Workshop


August 7-10th, 2023

Innovative CFO logo, "Creating Success Through Financial Leadership" slogan.

Empower your business with NearSourcing™ Accounting Solutions

and take advantage of expert financial strategies at reduced costs

Related Blogs
Scroll to Top
WIKICFO® - Browse hundreds of articles
Skip to content