MANAGEMENT

Detailed explanation-1: -W-2s and 1099s are both informational returns that taxpayers use to complete their federal tax returns. A W-2 form is sent to employees by employers and contains a summary of annual income or wages earned as well as the amount of taxes withheld during the previous tax year.

Detailed explanation-2: -W2, which stands for the wage and tax statement, is a tax form given by the Staffing companies to the Candidate in the month of January every year. Tax : On W2 tax will be taken care by his/her employer as the employer withholds a part of pay. What taxes need to be paid? Federal income Tax. State Income Tax.

Detailed explanation-3: -W2-Here taxes will be paid by the employer to IRS. GC, Citizens and H1B come unders this type of employement. C2C-Corporation to corporation. Here employee will be on the payrolls of company ‘X’ but working for other corporation.It is only for contract jobs.

Detailed explanation-4: -What is W2? W2, which stands for the wage and tax statement, is a tax form given by the employers to employees in the month of January every year. This document contains the details related to income earned and taxes payable by an employee. Now, to be classified under this category, you must satisfy certain conditions.