A wage statement form can be downloaded from the official website of the Internal Revenue Service. It is called Form W-2, and the IRS also gives a downloadable instruction on how to fill out the form properly.Continue Reading
Employers need to file wage statements or pay stubs if they are engaged in trade or business that pays a remuneration of more than $600 a year to employees, according to the IRS. In the wage statement, a recurring pay period and the recurring pay day must be seen together with all the wages earned in the pay period.
There are three important functions of a wage statement, says the Ontario Ministry of Labour. The first is to show that the employer is open about their employees’ wages. The next is to show that the employer is keeping accurate wage records. The last is to have proper documentation in case of any future disputes about employee wages.Learn more about Taxes