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The information on the paystub is what ultimately gets reported on the W-2 at the end of the year, ” says Roxanne Hendrix, a CPA and tax expert with JustAnswer. The second option you have is to ...
Employers can and do make mistakes on W-2s, and these errors can cost you money as well as time and effort to correct downstream tax ramifications.
In US territories, the W-2 is issued with a two letter territory code, such as W-2GU for Guam. Corrections can be filed using Form W-2c. The use of the form has led to the phrase "W-2 employees" to refer to those who receive Form W-2, in contrast to independent contractors and other "1099 workers" whose income is instead reported on Form 1099. [2]
W-2 employees have that employer portion paid by the employer, but 1099 contractors have to pay for it on their own. Most 1099 workers will need to make quarterly estimated payments to the IRS to ...
This has led to the phrases "1099 workers" and "the 1099 economy" to refer to those whose income is reported on Form 1099, in contrast to a "W-2 employee" who receives Form W-2. [ 2 ] [ 3 ] Blank 1099 forms and the related instructions can be downloaded from the IRS website.
If the template has a separate documentation page (usually called "Template:template name/doc"), add [[Category:United States stub templates]] to the <includeonly> section at the bottom of that page.
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