![]() It’s not just about legal compliance a timely and accurate W2 also helps maintain a positive relationship with your employees. This form, which needs to be completed accurately and filed on time, is a significant part of your business’s tax obligations. Your Responsibilities as an EmployerĪs an employer, you are required by law to provide employees with a W2 Form at the end of the tax year. Employers need to submit a copy of this form to the IRS and applicable state tax agencies. It is a requirement that all employees must receive a copy of this form in order to file their taxes. It includes detailed information about the employee’s earnings, taxes withheld, and any compensation received, ensuring a transparent record of an employee’s income for tax purposes. Whether the work was part-time or full-time, the form is issued by the employer at the end of the tax year. Who receives a Form W-2 – Wage and Tax Statement?Ī W2 Form, also known as a Wage and Tax Statement, is sent to an employee who has worked for an employer during the tax year. In addition to providing a copy to the employee, the employer is also mandated by law to submit copies of the form to the IRS and any applicable state tax agencies to ensure transparency and compliance. The employer must provide the employee with a copy of the completed W2 form so they can file their taxes correctly and efficiently. In essence, it’s a comprehensive financial record of an employee’s earnings for the year.
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