The W-2 form, the "Wage and Tax Statement," is an IRS form provided by the employer that reports the employee's income, the amount of taxes withheld from wages, benefits provided and other important information for the previous calendar year. Employees use Form W-2 to prepare their tax returns. Every employer engaged in a trade or business that makes non-cash payments of $600 or more for services rendered to an employee must file a Form W-2 for the employee.
[Last updated in March of 2022 by the Wex Definitions Team]