What is W-2 Form? | Meaning & Definition | Akrivia HCM

W-2 Form is also known as Wage and Tax Statement or Wage and Tax Summary. The employers use the Form to report the details of an employee’s income and tax deductions to the Internal Revenue Service. It is sent out electronically to people who have received any amount of earnings from a company. The PDF version of the Form shows various details, including the employee’s name, Social Security Number, Address, and the amount they have been paid, along with the taxes deducted from this particular employee. A W-2 Form must be sent out no later than January 31st for the previous year.

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