The W-2 (Wage and Tax Statement) is the form your employer sends you by January 31st each year summarizing your annual earnings and tax withholdings. It's essential for filing your tax return. Key boxes: Box 1 (Wages, tips, compensation), Box 2 (Federal tax withheld), Box 3 (Social Security wages), Box 5 (Medicare wages), Box 12 (codes for 401k, health, etc.), and Box 17 (State tax). Your final paystub's YTD figures should closely match your W-2.
Generate a paystub showing Form W-2 clearly with our free paystub generator, or browse the full payroll glossary (44+ terms explained).
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