Form W-2, or the Wage and Tax Statement, is a tax form issued by employers to report their employees’ annual wages and the amount of taxes withheld from their paychecks. According to the IRS, Form W-2 shows the total wages earned by an employee during the year, as well as the amount of federal, state, and other taxes that were withheld from their paycheck. This information is essential for filing an accurate individual income tax return.
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