W-2 Form
Definition
The wage and tax statement your employer is required to send you by January 31 each year. It reports your total wages, tips, and compensation, along with federal and state taxes withheld, Social Security and Medicare taxes, and other information needed to file your return. You'll receive a W-2 from each employer you worked for during the year.
Example
Your W-2 shows $65,000 in Box 1 (wages), $9,000 in Box 2 (federal tax withheld), and $4,972 in Box 4 (Social Security tax withheld). You'll use these figures when filing your Form 1040.