An example of a correctly completed W-2 form can be seen by going to the MyFreeTaxes website, clicking on the "Get Organized" drop-down menu, and selecting the "W-2 and 1099 Income Tax Statements" link. A more in-depth look at the W-2 form can be viewed in the Forbes article "Understanding Your Tax Forms: The W-2," which is free to be viewed online.Continue Reading
The W-2 is a tax form that is sent out from all employers to all employees who have made at least $600 from working for the employer. If an employee made less than $600, but taxes were still taken out of their pay, then the employer must still send a W-2 to the employee. The W-2 contains information about the money that was earned by the employee in the past year. It shows the total transfer of money from employer to employee, and it also breaks down all of the taxes that were taken out from that pay. W-2 tax forms are often used by employees to file for their tax returns at the end of each tax period.
W-2 forms are difficult to understand for individuals who are doing their taxes for the first time. There are many online resources to help individuals better understand their taxes, but the most comprehensive source of information is the Internal Revenue Service's direct government Web page.Learn more about Taxes