Understanding the W-2 Form

Front

What is the deadline for employers to send the W-2 form to their employees?

Back

January 31

Front

What does Box 1 on the W-2 form represent?

Back

Total taxable income for the year

Front

What does Box 2 on the W-2 form display?

Back

Federal income tax withheld

Front

Which boxes on the W-2 form indicate the amount of earnings subject to Social Security and Medicare taxes?

Back

Boxes 3 and 5

Front

What is reported in Box 10 of the W-2 form?

Back

Dependent care benefits

Front

Which box outlines whether you participated in an employer-sponsored retirement plan?

Back

Box 13

Front

What is the purpose of Box 14 on the W-2 form?

Back

To report additional tax information

Front

What does Box 12 on the W-2 form outline?

Back

Compensation or reductions to taxable income

Front

What information is provided by boxes 15 to 20 on the W-2 form?

Back

State and local income tax information

Front

How does the W-2 form impact the filing of your taxes?

Back

It provides essential earnings and tax withholding information