W-2
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A US tax form issued by employers showing an employee's annual wages, tax withholdings, and benefits deductions, used to file federal and state income tax returns.
## W-2 (Wage and Tax Statement)
The W-2 is the primary US tax document for employees. Employers must issue it by January 31 for the previous tax year.
### Key Boxes
| Box | Content |
|-----|--------|
| 1 | Wages, tips, other compensation (federal taxable) |
| 2 | Federal income tax withheld |
| 3 | Social Security wages |
| 4 | Social Security tax withheld |
| 5 | Medicare wages |
| 6 | Medicare tax withheld |
| 12 | Various codes (401k, HSA, RSU income, etc.) |
| 17 | State income tax withheld |
### W-2 vs. 1099
W-2 recipients are employees; 1099 recipients are independent contractors. The distinction affects FICA tax responsibility, benefits eligibility, and labor law protections.
### Common Issues
- Box 1 differs from total salary due to pre-tax deductions (401k, health insurance).
- RSU vesting income is included in Box 1.
- Multiple W-2s from different employers must be combined on one tax return.