W-2 Form online is now extremely easy to create & distribute among the employees.
Printable W-2 Forms Online or a copy of Form W-2 is to be provided by employers to individual employees every year. If you’re new to this, keep on reading to know the nitty-gritty about this document.
What is W-2 Form?
Also referred to as a W-2 Tax Form, Wage, and Tax Statement & Form W-2, it is the tax form that is to be created by employers for their employees for each calendar year. Employers usually complete & dispatch this form to each employee by 31st January so that the employees can feel the ease of filing tax returns.
Besides giving copies of Form W-2 to the employees, employers have to submit a W-2 Form’s copy with the Social Security Administration (SSA) by February end. IRS has rules for not accepting any individual’s tax returns without having a W-2 Form attached to it. Thus, employers shoulder the responsibility to Generate W-2 Form Online on time & send them to employees respectively.
W-2 in a Nutshell
As 31st January arrives, employers must make sure that each of their employees is given a copy of the W-2 Form. It is a document that helps them in filing their annual tax returns. In states where the W-2 Form isn’t provided by the employers, employees can get printable W-2 Form Online using an instant W-2 Form Generator.
How to get my w-2 online?
Whether you’re an employer wanting to create a W-2 Form online or an employee willing to make their copy of Form W-2, you can do so using our instant W-2 Generator. It’s easy as a breeze to create, download & use the W-2 Form as the only effort that goes in is filling in the basic details. That’s all.
How to File the W-2 Forms?
If you’re filing W-2 Forms for the first time, you’ll probably want to know the process for filing the same. Here are the steps to be considered.
Steps to generate W-2 Form with Check Paystub
Generating W-2 Form online is a three-step process only. Here is what you have to follow:
1. Enter the basic details on W-2-Form.
2. View & verify the details in the Preview mode before proceeding to checkout. If any changes are desired, you may make them at this step.
3. Make payment for the respective W-2 Form via the preferred payment option. Once payment is successful, your W-2 form will be dispatched to the provided Email ID & will be available for instant download & use.
Why do you need to use the W-2 Form?
Employers have to inform the government regarding the amounts withheld from each employee’s salary as tax deductions. This is the reason the W-2 Form is used by employers.
Secondly, this form contains essential details that help employees in filing their tax returns. For instance, the amount deducted as medical insurance, retirement fund, social security, etc throughout the year is visible in the W-2 Form. It makes the picture clear for the Social Security Administration & IRS regarding income tax returns.
When do you need the W-2 Form?
Employees generally need a W-2 Form for filing taxes & so employers need to get them ready before 31st January every year so that they can dispatch them to each employee on time.
However, if your employer isn’t providing a W-2 Form, you may create it on your own.
What are the main things that go on a W-2 Form?
The following standard information about your employee and business is included in your W-2
Form:
✔️ Business Information (Name, Address, and State Tax ID No.)
✔️ Employee Information (Name, Address, and Social Security Number)
✔️ Total Wages
✔️ Social Security
✔️ Other compensations
What are the most common mistakes to avoid?
To err is human & if this happens with W-2 forms, employees & employers may have to go through a lot of headaches. If you don’t know, mistakes in W-2 forms can also get employers penalized. We’ve figured out some common mistakes made with W-2-Forms:
✔️ W-2 Form of the wrong year is being used
✔️ Employee Name & Social Security Numbers are incorrect
✔️ Name filed has titles & abbreviations
✔️ Missing out on filing deadlines
✔️ Not using Black Ink
✔️ Employer’s Identification Number is missing
✔️ Not completing the ‘Retirement Pan or Medicare Wage’ Block
FORM W-2 FAQs
1. What is an IRS Form W-2 Generator?
IRS Form W-2 is a tax form that is filed by employers for each employee working in their firm. It is the way employees inform IRS regarding the salary paid to the employees, the amounts withheld from their salaries for tax purposes, and the amounts they owe to pay as tax to the government.
It’s the employer’s duty to make & file W-2 tax forms. Also, he should also provide a copy of the W-2 Form to each employee so that they can attach its copy while filing their tax returns.
2. Are there any deadlines for W-2?
W-2 forms do come with a deadline & they must be filed either online or as physical copies on or before 31st January every year after tax year closes. This also means that employers are expected to give W-2 copies to the employees by 31st January.
3. Who needs a W-2 tax form?
When your employer deducts the amount from your paystubs for tax purposes, you’ll need your W-2 copy from your employer because it should be attached to your tax returns.
The employer needs to create & file W-2 for each employee of their firm who has been paid more than $600 or equal amounts or for the employees whose salaries have been deducted with tax amounts.
4. Can I create a W-2 online?
If you’re an employer asking this then the answer is yes. It’s extremely easy to create a W-2 online & our W-2 generator is the perfect tool you need right now. Enter the basic details as required, preview your W-2 form and it will be mailed to your Email ID. You may then download,
print & use the copy of W-2 as desired. Please refer IRS website if you’re willing to file a W-2 Form digitally.
5. Where can I get a copy of my W-2?
Employees usually get a W-2 copy from their employers every year as it is to be filed with the Federal & State tax return. However, employees may keep W-2 for their recordkeeping too. In case if your employer has a payroll provider issuing paystubs on their behalf, you may reach out to the payroll provider for getting your W-2 copy.