Form W-2 is an essential document you need when filing income tax returns. Learn more about Form W-2 here, including how you can get it.
It’s your responsibility to pay taxes to the federal as well as state governments. You as an employee need to file your tax returns every year, and if you have paid more than you owe, you will get a tax refund from the IRS. This will all depend on your income, deductions and tax credits you were eligible for that financial year. Many documents are needed when filing taxes, and the W-2 Form is one of them. What is W-2 form, and how can you easily get yours? To help you answer that, here are all the details you need to know about W-2 Form.
What is Form W-2?
A W-2 Form is also known as the “Wage and Tax Statement” and is a document that reports an employee’s income, and how much tax the employer has withheld the prior year. Also, the form has other details such as employers name and social security number. You need this document to file your tax returns and you should get it from your employer.
Other basics about the W-2 Form
You need to understand that your employer should send a copy of the W2 form to you by 31st January every year. But your employer can direct you on how to get your W2 Form online. This is to make sure that you have enough time to prepare and file your federal income taxes by 31st April every year. In addition to that, your employer needs to send another copy of W2 form to the IRS. What’s more is that the W2 form is the main document that determines whether you are getting a tax refund or a tax bill come tax time.
You need W-2 Form to file your tax returns
The W-2 Form is one of the main documents you need when filing your taxes. The form clearly outlines how much you earned from your employer in the last year. Also, the document shows how much withholding tax you have already paid to the IRS. Therefore, this document is crucial when you do your taxes.
How to easily get your W-2 Form?
You don’t have to wait your employer to send your W2 form via mail. Instead, you can easily retrieve W2 online. Your employer will direct you on how you can get your W2 form online. Also, you can use online tools to get your form w2. You can use TurboTax or H&R Block to find and import your W2 information into your tax return. Using one of the online tools to get your form will simplify and speed up the whole tax filing process.
The W-2 Form is an essential document needed when filing tax returns every year. Your employer should send you a copy of the form, but you can easily get it online. You just need to use TurboTax or H&R Block to get your W-2 form, and even file your tax returns. This will speed up the whole tax filing process so that you can either get your tax refund or pay the tax bill as soon as possible.