What is a W-2 form?

A W-2 form is a tax form required from employers that reports wages paid and taxes withheld to the Internal Revenue Service (IRS), local state tax authorities and the Social Security Administration. How Does W-2 Form Work?

Who is a W2 employee?

A W-2 employee is someone whose employer deducts taxes from their paychecks and submits this information to the government. Form W-2 reflects an individual's income earned and taxes withheld from the prior year to be reported on income tax returns. Employers use W-2s to report FICA taxes for employees.

What is a W2 Gu?

In US territories, the W-2 is issued with a two letter territory code, such as W-2GU for Guam. Corrections can be filed using Form W-2c. The use of the form has led to the phrase "W-2 employees" to refer to those who receive Form W-2, in contrast to independent contractors and other "1099 workers" whose income is instead reported on Form 1099.