What is Form W-2?
Definition Form W-2, the Wage and Tax Statement, is issued by employers to each employee and the IRS to report annual wages and the income, Social Security, and Medicare taxes withheld. Employees use it to prepare their individual returns. Employers must furnish it to workers and file copies with the Social Security Administration early each year.
It is the backbone of most individuals' returns, and mismatches between a W-2 and what is filed are a common trigger for IRS notices.