Every employee of an organization will obtain a W-2 form for their income taxes, this will be given to them automatically every year by their employer. The employer will also submit a copy of their W-2 with the IRS.<\/p>\n

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When an employee gets hired the information provided on Form W-4 or on Form W-9 will give all the details required by the company and keep a check on payroll, tax withholding, benefits provided by the employer, and pre-tax contributions like a 401(k) retirement plan. <\/p>

The W-4 form provides information to the employer on the amount of tax to withhold from an employee’s paycheck based on the individual’s marital status, the number of allowances and dependents, and other factors.<\/p>\n

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While preparing their income taxes the employee will need to add the data found on their W-2 into a Form 1040 individual tax return, either by hand or electronically. <\/p>

In many cases with the help of online tax preparation software now people can directly import the information on their W-2 from their payroll provider.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t