W-2
Tax and finance · Reinvent NY glossary
The W-2 (Wage and Tax Statement) is an annual form that employers must provide to employees by January 31, showing total wages earned and taxes withheld during the previous year — including federal income tax, state income tax, Social Security tax (6.2%), and Medicare tax (1.45%). Employees use W-2 information to file their federal (Form 1040) and state tax returns. The form also shows employer-provided benefits like health insurance and retirement contributions. If you worked for multiple employers, you will receive a W-2 from each one.
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