Which form is issued annually detailing earnings and taxes for the previous year?

Which form is issued annually detailing earnings and taxes for the previous year?

• A. W4
• B. W2
• C. Garnishment of wages
• D. Termination

Answer: (B)

You’re looking at the form that summarizes a worker’s yearly earnings and the taxes taken out. That form is the W-2. Employers issue the W-2 to employees every year, by the end of January, detailing the wages earned in the previous year and how much federal, state, and other taxes were withheld. It’s the document you use to prepare your tax return. The W-4 is the form you fill out when you start a job to set how much to withhold from each paycheck, not a yearly earnings summary. Garnishment of wages is money taken from pay to satisfy a debt, not a tax-reporting document. Termination means ending employment, not a tax form. So the form that provides the annual earnings and taxes is the W-2.

You’re looking at the form that summarizes a worker’s yearly earnings and the taxes taken out. That form is the W-2. Employers issue the W-2 to employees every year, by the end of January, detailing the wages earned in the previous year and how much federal, state, and other taxes were withheld. It’s the document you use to prepare your tax return. The W-4 is the form you fill out when you start a job to set how much to withhold from each paycheck, not a yearly earnings summary. Garnishment of wages is money taken from pay to satisfy a debt, not a tax-reporting document. Termination means ending employment, not a tax form. So the form that provides the annual earnings and taxes is the W-2.