What is a W-2?

Answer 1

It's a form with information about your salary that your employer mails you usually in the beginning of the year. You then take information from there and use on your tax return.

Answer 2

IF you have a job your employer will provide you with a w-2, which included all your earnings from Jan 1 thru Dec 31. Your employer must provide this form to you by Jan 31, of the following year you were employed. When you receive your w-2 you must file an income tax return. the information from your w-2 is also provided to the IRS.

Answer 3

1. Your employer will withhold less federal and state taxes from your pay check based on number of allowance you have put on your W4. Withholding tax is not the same as paying tax.

2. In January 2008 your employer will send you a form W2. It shows your total income and amounts withheld for various accounts (SE tax, federal tax, state tax...).

3. You will need to file your federal and state income tax returns in 2008 by April 15, 2008. The returns will show your total income (from W2) and your total federal and state taxes on that income (these tax figures has nothing to do with what you put of your W4).

4. Now if on W2 you paid more federal taxes than your federal tax liability as per your return, then you will get a refund. If on W2 you paid less federal taxes than your federal tax liability as per your return, then you must pay it along with interest and penalty.

Answer 4

a W-2 is a tax form provided by your employer which contains all your wages, taxes paid on your behalf and other tax related amounts and information. You must receive it by Jan 31.