Answer :
The answer is W2 form. At the end of the year, a business must send Form W-2, generally known as the Wage and Tax Statement, to each employee and the Internal Revenue Service (IRS). A W-2 contains an employee's annual salary as well as the taxes deducted from their paychecks.
What appears on the W-2 form ?
An individual's W-2 tax form contains crucial details regarding the income they received from their employer, the amount of taxes deducted from their paycheck, the benefits they received, and other details for the year. To file one's federal and state taxes, one uses this form.
An IRS Form W-2, Wage and Tax Statement, indicating how much an individual has made in pay, tips, and other compensation from the prior year, is provided by his or her employer by January 31 of each year (even if the individual no longer works there).
The W-2 form is crucial because it examines wage data from an employee and decides whether they will owe additional taxes or receive a refund.
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