Definition, Meaning & Synonyms
W-2
noun
ˈdʌbljuː tuː
Definition
A form used in the United States to report wages paid to employees and the taxes withheld from them.
Examples
- Employees must receive their W-2 forms by January 31st each year.
- The W-2 shows the total earnings for the year as well as the amount of federal, state, and other taxes withheld.
- When filing taxes, it’s important to reference your W-2 to report income accurately.
Meaning
The W-2 form provides employees with information about their annual wages and tax withholdings, which they need to file their income tax returns.
Synonyms
- Wage statement
- Income tax statement
