W-2 and W-4 Forms Overview

W-2 Form

  • Given to employees by their employer if they've earned more than 600.
  • Includes:
    • Social Security number
    • Employer's name and address
    • Employee's name and address
    • Tax year
    • Wages, compensation, and tips
    • Taxes withheld (Social Security, Medicare, federal taxes, etc.)
  • Needed when filing taxes to accurately input financial information.
  • Check for accuracy upon receipt (usually in January) to avoid issues with tax filings.
  • If not received by January 31st, contact the employer immediately.

W-4 Form

  • Completed by employees to indicate how much income tax they want withheld from their paycheck.
  • Filled out upon starting a job and can be updated with life changes.
  • Employers cannot provide direct assistance with completing the form but can offer general support.
  • Includes:
    • Name, address, Social Security number, and marital status.