BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You
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Your Employer
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Your bank
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The IRS
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Detailed explanation-1: -W-2 employer requirements necessitate that employers fill out the W-2 Form and hand over copies to employees, plus send copies to the SSA or Social Security Administration.
Detailed explanation-2: -Employers must complete, file electronically or by mail with the Social Security Administration (SSA), and furnish to their employees Form W-2, Wage and Tax StatementPDF showing the wages paid and taxes withheld for the year for each employee.
Detailed explanation-3: -Employers (W-2) withhold money from your pay and send it to the various tax agencies throughout the tax year on your behalf. As a self-employed person (1099), the business paying you doesn’t usually withhold money on your behalf. You are responsible for making your own payments for the taxes that you owe each year.