BUISENESS MANAGEMENT
TAXES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
obtain employment
|
|
|
receive her paycheck
|
|
|
file her taxes
|
|
|
begin her retirement savings account
|
Detailed explanation-1: -A W-2 is a document that employers must send or mail to employees by the end of January. It contains a summary of the income earned and the amount of taxes withheld during the prior tax year. Employees use this statement to fill out their tax returns.
Detailed explanation-2: -A W-2 tax form shows important information about the income you’ve earned from your employer, amount of taxes withheld from your paycheck, benefits provided and other information for the year. You use this form to file your federal and state taxes.
Detailed explanation-3: -Form W-2 reflects your income earned and taxes withheld from the prior year to be reported on your income tax returns. Employers use W-2s to report FICA taxes for employees. The IRS also uses W-2 forms to track individuals’ tax obligations.
Detailed explanation-4: -Form W-2 is used to prepare the employee’s tax return.