How Do You Properly Fill Out A W2 Form?
Employers are required by law to send out W2s to employees each year by the end of January. The employer must file the W2s with the Social Security Administration (SSA) who forwards the information to the IRS. If the W2 is incorrect, it can cause tax-processing delays. To avoid inconveniencing the employee, it’s best to complete the W2 properly. Complete the W2 for the appropriate tax year. Enter the employee’s social security number in box A. Put your employer identification number (EIN) in box B and the business name and address in box C. You can skip box D; use it only if you want to identify individual W2s. Enter the employee’s name and address in boxes E and F, respectively. Put the employee’s total taxable income, tips and taxable fringe benefits in box 1. This includes commissions, severance pay, vacation pay, back wages and bonuses. Put total federal income tax withheld in box 2, and put social security wages and taxes withheld in boxes 3 and 4, respectively. State the Medicare
