As an employer, you will be asked to fill out a tremendous amount of paperwork in a given year. The stresses of carrying out such obligations with the knowledge that a mistake could mean problems for your employees or your business as a whole can be severe. Generally, the final piece of paperwork sent out by an employer in any given year is one of the most important: the W2 form. Serving as a compliment to the W4, a similar form which your employees themselves are required to complete, the W2 is used to determine how much of an employee’s paycheck was withheld for tax purposes over the previous year. Once the form is complete, the employer must present their employee with a copy so that they might understand why they received the amount of capital they did and why they will probably receive a similar amount over the course of the upcoming year.
What Information Does The W2 Require You To Provide?
- Your employee’s overall professional earnings for the year.
- How much of their paycheck was withheld as a result of the federal income tax or the social security tax, as well as any local taxes.
- Whether or not the employee received Medicare-funded services.
- Their social security number.
- Their complete name and address
- Whether or not they are a dependent or have dependents.
- Whether or not they received disability benefits.
These are just a few examples of the many factors which are taken into account by the W2.
Why AFS Taxsavers?
On a form as significant as the W2 accuracy is everything. You will be asked to provide a great deal of information, including various figures which you would normally have to deduce independently. Fortunately, AFS Taxsavers is here to help. We’ll work to ensure that your W2 form is filled out immaculately, that every figure is entirely accurate and that not a line is out of place. With our help you can eliminate the worry and hassle associated with complex paperwork. But don’t take our word for it. Call AFS Taxsavers today and see what a difference we can make for you.