W-2 Form

Term Definition

A W-2 is a required tax form that employers send to employees and the IRS at after the year ends. Employees then use information on the W-2 form to fill out their income tax forms. 

Extended Definition

The IRS provides example copies of W-2 forms for employers to see. Employers must use official forms requested from the IRS at 1-800-TAX-FORM or purchased from an office supply store or online. On the W-2 form, the employer inputs information about the employee's earnings and tax payments from the previous year. The employee uses this information about income and taxes paid when filing taxes, and the IRS also gets a copy to ensure the correctness of filed tax forms.

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