Does Income Tax Information Include Wages and Tips?
Wages and tips are nearly always considered taxable income at the federal level. If you are working and receiving a salary, hourly wage or tip income, you should be receiving a Form W-2 from your employer. The W-2 is an informational tax return that details your wages earned, deductions from your income for pretax benefits such as 401k contributions and health insurance premiums, tips you have reported to your employer, and taxes withheld from your wages to be paid by your employer on your behalf.
