A W-2 is the annual income filing that an employer gives to an employee so the employee can file their prior year's income tax return. It stands for a Wage and Tax statement that an employer needs to prepare for every single employee. It includes wages, taxable income, tax-related benefits, tax identification number, and company information.

Why Would I Need to Have a W2 Form?

You need this as an employer when you let the IRS know exactly how much you withheld from employees for taxes and how much you paid out for the year. It helps develop transparency between yourself, your employees, and the IRS. You must also state all socially related payments to Social Security Administration and Medicare.

What Is a W2 Form Not?

There are other W forms like the W-9 form and W-8 BEN form. These serve different purposes. W-9 forms are for freelancers who file a different form called a 1099-MISC form. The W8-Ben form is for foreign nationals working in the US who want status to receive benefits.

What Are the Main Items That Go Into a W2 Form?

There are usually 3 main components that go into a stellar W-2 form. Everything related to your business, from its name, address, tax ID number or EIN number. Everything related to your employees like name, address, social security number. All wages through the company and relevant deductions from taxes, retirement accounts, social security, Medicare.

Are There Any Major Deadlines for the W2 Form?

Yes, there is a hard stop on January 31st of the following year. You can provide this anytime during January, but you must present it no later than the end of the month. Otherwise, you're out of compliance and could be subject to penalty or compliance fees.

How Can I Make a Mistake and Mess Up Creating a W2 Form?

This is like making a simple sandwich: easy to make, easy to mess up. Take your time with this. We're talking about having a clear and compliant document for the Internal Revenue Services. The first mistake is missing the deadline to file. Putting wrong information or forgetting critical information like tax ID numbers can cause severe penalties.

Do I Need a Lawyer for W2 Form Generation?

In short, no. You need no one else to make this form. It depends on how complex your business is with employees, but these documents are pretty templated and straightforward with us. We made sure to have each section vetted by our own internal tax attorneys. Consider an accountant to handle the actual paperwork though.

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A Document to Benefit Your Employees When They Handle Their Taxes

Don't let your employees struggle with their annual tax returns during the tax season due to their payroll from you. Help them by creating W-2 tax forms for them.

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You'll be handling employee information, tax IDs, company IDs, and other sensitive information with us. We'll make sure to protect this sensitive data.

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With all the relevant fields already included in templates, you can generate W2 forms filled with correct calculations. Send them directly to your employees.

One of the Simplest Forms to Create

W-2 forms require pretty standard information. We just make sure that the rest of the form is compliant.

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