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As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
The tax information return most familiar to the greatest number of people is the Form W-2, which reports wages and other forms of compensation paid to employees.There are also many forms used to report non-wage income, and to report transactions that may entitle a taxpayer to take a credit on an individual tax return.
Form W-2 (officially, the "Wage and Tax Statement") is an Internal Revenue Service (IRS) tax form used in the United States to report wages paid to employees and the taxes withheld from them. [1] Employers must complete a Form W-2 for each employee to whom they pay a salary, wage, or other compensation as part of the employment relationship.
Using Your W-2 Form for Tax Filing. Your W-2 is essential when it comes time to file your taxes. You can either fill out the required forms, or use tax preparation software.
Once the form is completed, return it to your local Social Security office by mail or in person. If you want to make any changes in the future, you’ll need to fill out a new Form W-4V.
More than 169 million payments worth about $400 billion have been sent out by the IRS since Congress passed the American Rescue Plan stimulus relief bill in March. See: Fourth Stimulus Checks ...
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