Can someone explain a W2 form to me?

Question

i just got hired at smoothie king and he said i needed to fill out a W2 form. what the heck is that?

Answer 1

When you start working you fill out this form so the government can take taxes away from you and so that your work can report to the government your wages. Once you start working each year you have to start doing your taxes. Your work will send you paperwork at the beginning of the year for your taxes.

It's not a big deal, takes like a second to fill out.

Answer 2

He probably said a W-4 form, not a W-2 form.

When you are hired, you fill out a W-4 form to let your employer know how much to withhold for income tax. If you are single, put either 1 or 0 for the number of allowances. If you put 0 you'll have more taken out than if you put 1, but you'll almost surely get a refund at the end of the year - if you put 1, you'll be close, with either a small refund or owe a little.

A W-2 is the form your employer will give you next January showing your earnings and deductions for 2007. You will use that info to file your tax return.

Answer 3

It's actually a W4 tax form that you filled out with your employer. The two basic pieces of information on there are your filing status (married or single) and your number of exemptions. I will assume that you have no dependents. So in that case, you could either claim 0 dependents or 1 dependent (you). If you claim 0, you will have more money taken out of your paycheck each week for tax, and run the possibility of getting a larger tax refund next year when you file your income taxes. But that really is nothing more that giving an interest free loan to the government for the year, so I really recommend claiming 1 dependent.

Answer 4

Actually you need to fill out a W4 form. A W2 form will be given to you by your employer and reported to the IRS. It will state how much you earned, how much tax was withheld, etc.

The W4 form tells the employer how many withholding allowances you will claim. He will use that info to withhold the tax from your pay. If you can be claimed as a dependent on your parents' tax return, you probably want to claim zero allowances. If you can't be claimed on someone's tax return, then you will probably want to claim one allowance. Your employer should provide a W4 form for you...it comes with instructions.

Answer 5

The form for W2 is a short thing to fill out for tax purposes. It allows your employer to know how much to withhold for your taxes. It's basically your name, social security number and a place to say how many allowances to make -- if you have a spouse or dependents, if you are claimed as a dependent on someone's else's taxes, etc.

At the end of the year, your employer gives you a W2 showing how much money you made before taxes and how much was withheld for state, federal and social security taxes. (That information is also usually listed, for that pay period and for the year to date, on each paystub too.) You use those figures to fill out your tax returns and you also need to attach a copy of the W2 to the tax return.

Answer 6

a w-2 is a form u get at the end of the year to file ur income taxes it shows how much u made and how much theytook out for state/federal taxes and social security and FICA...u must mean a w-4 forms to let ur employer know how many dependants u have or how much taxes to take out on u for the year

Answer 7

It shows how much you made and taxes paid...you fill out the part that claims deductions...one for yourself,one for each dependant...

Answer 8

isnt that a tax return form?

Answer 9

They would provide it for you. If not, something's wrong!

Answer 10

Call IRS, they will tell you all about it.