Where to Buy W2 Forms and How to Complete Them

A W-2 Form, formally known as the Wage and Tax Statement, is a tax document employers use to report annual wages paid to employees and the taxes withheld. It summarizes an employee’s earnings and contributions for federal income tax, Social Security, and Medicare. Both employers and employees rely on the W-2 for accurate tax reporting, as employees use it to prepare their federal and state income tax returns. The Internal Revenue Service (IRS) and the Social Security Administration (SSA) also receive copies to track tax obligations and calculate future benefits.

Sources for W2 Forms

Employers can obtain W-2 forms from several reliable sources. Office supply stores commonly stock pre-printed W-2 forms in various formats, offering a convenient option for many businesses. These forms typically come in sets that include all the necessary copies for employees, federal agencies, and state tax authorities.

Tax software providers and online vendors specializing in tax forms also offer W-2 forms, often providing options for blank laser paper where the software prints all the necessary boxes and data. While the IRS website provides informational copies, employers generally need to purchase scannable, pre-printed forms for official submission, especially for Copy A.

Choosing the Correct W2 Forms

Selecting the appropriate W-2 form involves understanding the different types and required copies. The standard W-2 form is for original wage and tax reporting, while a W-2c form corrects errors on a previously filed W-2.

W-2 forms consist of multiple copies, each designated for a specific recipient. Copy A is for the SSA, Copy B is for the employee’s federal tax return, and Copy C is for the employee’s records. Copy D is retained by the employer for their records. Copies 1 and 2 are provided for state and local tax authorities and for the employee’s state tax return.

Information Needed to Complete W2 Forms

Accurately completing a W-2 form requires specific information about both the employer and the employee, along with detailed financial data. The employer’s information includes their legal name, address, and Employer Identification Number (EIN). The employee’s section requires their full name, mailing address, and Social Security Number (SSN).

Financial details, typically found in payroll records, are entered into designated boxes. Box 1 reports the total taxable wages, tips, and other compensation. Boxes 2, 4, and 6 show the federal income tax, Social Security tax, and Medicare tax withheld.

Box 3 indicates Social Security wages, and Box 5 shows Medicare wages and tips. Other boxes may include information on allocated tips, dependent care benefits, retirement plan contributions, and various other compensation. State and local wage and tax information are also reported in separate boxes.

Completing and Distributing W2 Forms

When completing W-2 forms, legibility is important. All entries should be made clearly, preferably using black ink if filling out paper forms manually. Employers should meticulously cross-reference payroll records with the information entered on each form to ensure accuracy and prevent processing delays or penalties.

Employers are required to distribute W-2 forms to employees by January 31 of the year following the tax year. This deadline applies to both paper and electronic distributions, though electronic delivery typically requires prior employee consent. Copies B, C, and 2 are provided to the employee.

Employers must also submit Copy A of the W-2 form, along with Form W-3 (Transmittal of Wage and Tax Statements), to the Social Security Administration by January 31. If this date falls on a weekend or holiday, the deadline shifts to the next business day. Failure to meet these deadlines can result in penalties, which can range from $60 to $330 per form for late submissions. Employers filing 10 or more information returns are generally required to file electronically.