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W2 Form 2023 PDF Download: The W-2 form is a critical document in the realm of U.S. taxation, serving as a comprehensive summary of an individual’s income and tax withholdings over a calendar year. For employees, this form is instrumental in accurately reporting their earnings and tax obligations. In this article, we delve into the intricacies of the W-2 form, exploring its components, significance, and the process of understanding and utilizing it.
W2 Form 2023 PDF Download | W2 Form Printable
The W-2 form, also known as the “Wage and Tax Statement,” is a report that employers provide to their employees and to the Internal Revenue Service (IRS) annually. It outlines an individual’s total earnings from employment, as well as the various taxes withheld from those earnings throughout the year.
How To Fill Out W2 Form Online
The W-2 form comprises multiple sections, each conveying essential information:
- Employee Information: This section includes the employee’s name, address, Social Security number (SSN), and employer’s identification number (EIN).
- Employer Information: Here, the employer’s name, address, and EIN are provided.
- Earnings: The earnings section breaks down the employee’s income, including wages, salary, tips, bonuses, and any other compensation received.
- Federal Income Tax Withheld: This segment outlines the amount of federal income tax that has been withheld from the employee’s paycheck throughout the year.
- State and Local Taxes: If applicable, this section details the state and local income taxes withheld.
- Social Security and Medicare: The amounts withheld for Social Security and Medicare taxes (FICA taxes) are displayed here, along with the corresponding employer contributions.
- Retirement Plans and Benefits: If the employee has contributed to a retirement plan, such as a 401(k), or has received certain benefits, these details are listed.
- Other Information: This section may include details about other deductions, benefits, or information pertinent to the employee’s tax situation.
Significance of the W-2 Form | W2 Form PDF 2023 Download
The W-2 form is pivotal for several reasons:
- Income Reporting: The W-2 accurately reports an individual’s total earned income and helps calculate the correct amount of income tax owed to the IRS.
- Tax Filing: Employees use the information from the W-2 form to complete their federal and state income tax returns. It assists in determining if they owe taxes or are entitled to a refund.
- Tax Withholdings: The W-2 showcases the total tax withheld from an employee’s paycheck, aiding in the calculation of the overall tax liability.
Receiving and Understanding Your W-2 Form:
Employers typically provide W-2 forms to employees by January 31st following the end of the tax year. Employees must then use this form to file their tax returns.
- Review for Accuracy: Upon receiving your W-2 form, carefully review the information to ensure accuracy. Mistakes can lead to discrepancies in your tax calculations.
- Retain for Records: Even after filing your taxes, it’s essential to retain a copy of your W-2 form for your records. The IRS may request it in case of an audit.
- Use for Tax Filing: Use the data from your W-2 form to complete the appropriate sections of your federal and state tax returns. The information will help determine your tax liability or refund.
How To Download W-2 Form PDF | W2 Form Printable
W2 Form Printable 2023 | W2 Form PDF 2023 Download
You may file Forms W-2 and W-3 electronically on the SSA’s Employer W-2 Filing Instructions and Information web page, which is also accessible at www.socialsecurity.gov/employer. You can create fill-in versions of Forms W-2 and W-3 for filing with SSA. You may also print out copies for filing with state or local governments, distribution to your employees, and for your records.
Note: Copy A of this form is provided for informational purposes only. Copy A appears in red, similar to the official IRS form. The official printed version of this IRS form is scannable, but the online version of it, printed from this website, is not. Do not print and file Copy A downloaded from this website with the SSA; a penalty may be imposed for filing forms that can’t be scanned.
Please note that Copy B and other copies of this form, which appear in black, may be downloaded, filled in, and printed and used to satisfy the requirement to provide the information to the recipient.
To order official IRS information returns such as Forms W-2 and W-3, which include a scannable Copy A for filing, go to IRS’ Online Ordering for Information Returns and Employer Returns page, or visit www.irs.gov/orderforms and click on Employer and Information returns. We’ll mail you the scannable forms and any other products you order.
What information does a W-2 form include?
A W-2 form includes various sections:
- Employee and employer information.
- Earnings, including wages, salary, tips, and bonuses.
- Federal income tax withheld.
- State and local income taxes withheld.
- Social Security and Medicare taxes (FICA).
- Retirement plan contributions.
- Other deductions and benefits.
Employee W2 Form | W2 Form 2023 PDF Download
If you are not using the official IRS form to furnish Form W-2 to employees or to file with the SSA, you may use an acceptable substitute form that complies with the rules in Pub. 1141, General Rules and Specifications for Substitute Forms W-2 and W-3. Pub. 1141 is a revenue procedure that explains the requirements for format and content of substitute Forms W-2 and W-3. Your substitute forms must comply with the requirements in Pub. 1141.
Pub. 1141 prohibits advertising on Form W-2. You must not include advertising on any copy of Form W-2, including coupons providing discounts on tax preparation services attached to the employee copies.
Notice to Employee | W2 Form 2023 PDF Download
Do you have to file?
Refer to the Form 1040 instructions to determine if you are required to file a tax return. Even if you don’t have to file a tax return, you may be eligible for a refund if box 2 shows an amount or if you are eligible for any credit.
Copies B and C; corrections.
File Copy B of this form with your 2023 U.S. Virgin Islands income tax return. Keep Copy C for your records. If your name, social security number (SSN), or address is incorrect, correct Copies B and C and ask your employer to correct your employment record. Be sure to ask your employer to file Form W-2c, Corrected Wage and Tax Statement, with the Social Security Administration (SSA) to correct any name, amount, or SSN error reported to the SSA. Be sure to get your copies of Form W-2c from your employer for all corrections made so you may file them with your tax return.
If you expect to owe $1,000 or more in tax for 2024, you may have to make estimated tax payments to your local territory tax department. You may also have to make estimated tax payments to the U.S. Internal Revenue Service if you are subject to self-employment taxes.
Employee’s social security number (SSN)
For your protection, this form may show only the last four digits of your SSN. However, your employer has reported your complete SSN to the V.I. Bureau of Internal Revenue and the SSA.
Clergy and religious workers
If you aren’t subject to social security and Medicare taxes,
Cost of employer-sponsored health coverage (if such cost is provided by the employer). The reporting in box 12, using code DD, of the cost of employer- sponsored health coverage is for your information only. The amount reported with code DD is not taxable.
Credit for excess social security tax
If one employer paid you wages during 2023 and more than $9,932.40 in social security tax was withheld, you can claim a refund of the excess by filing Form 1040 or 1040-SR with the V.I. Bureau of Internal Revenue, 6115 Estate Smith Bay, Suite 225, St. Thomas, VI 00802. If you had more than one employer in 2023 and more than $9,932.40 in social security tax was withheld, you can have the excess refunded by filing Form 843, Claim for Refund and Request for Abatement, with the Department of the Treasury, Internal Revenue Service Center, Austin, TX 73301-0215, USA. However, if you are required to file Form 1040 or 1040-SR with the United States, you must claim the excess tax as a credit on Form 1040 or 1040-SR.
Unreported tip income
You must file Form 4137 with your income tax return to figure the social security and Medicare tax owed on tips you didn’t report to your employer. Enter this amount on the wages line of your tax return. By filing this form, your social security tips will be credited to your social security record (used to figure your benefits).
Instructions for Employee of Form W-2 | W2 Form 2023 PDF
- Box 5. You may be required to report this amount on Form 8959. See the Form 1040 instructions to determine if you are required to complete Form 8959.
- Box 6. This amount includes the 1.45% Medicare tax withheld on all Medicare wages and tips shown in box 5, as well as the 0.9% Additional Medicare Tax on any of those Medicare wages and tips above $200,000.
- Box 11. This amount is (a) reported in box 1 if it is a distribution made to you from a nonqualified deferred compensation or nongovernmental section 457(b) plan, or (b) included in box 3 and/or box 5 if it is a prior year deferral under a nonqualified or section 457(b) plan that became taxable for social security and Medicare taxes this year because there is no longer a substantial risk of forfeiture of your right to the deferred amount. This box shouldn’t be used if you had a deferral and a distribution in the same calendar year. If you made a deferral and received a distribution in the same calendar year, and you are or will be age 62 by the end of the calendar year, your employer should file Form SSA-131, Employer Report of Special Wage Payments, with the Social Security Administration and give you a copy.
- Box 12. The following list explains the codes shown in box 12. You may need this information to complete your tax return. Elective deferrals (codes D, E, F, and S) and designated Roth contributions (codes AA, BB, and EE) under all plans are generally limited to a total of $22,500 ($15,500 if you have only SIMPLE plans; $25,500 for section 403(b) plans if you qualify for the 15-year rule explained in Pub. 571). Deferrals under code G are limited to $22,500. Deferrals under code H are limited to $7,000.
- However, if you were at least age 50 in 2023, your employer may have allowed an additional deferral of up to $7,500 ($3,500 for section 401(k)(11) and 408(p) SIMPLE plans). This additional deferral amount is not subject to the overall limit on elective deferrals. For code G, the limit on elective deferrals may be higher for the last 3 years before you reach retirement age. Contact your plan administrator for more information. Amounts in excess of the overall elective deferral limit must be included in income. See the “Wages, Salaries, Tips, etc.” line instructions for your tax return.
Note: If a year follows code D through H, S, Y, AA, BB, or EE, you made a make-up pension contribution for a prior year(s) when you were in military service. To figure whether you made excess deferrals, consider these amounts for the year shown, not the current year. If no year is shown, the contributions are for the current year.
- A—Uncollected social security tax on tips. Report on U.S. Form 1040 or 1040-SR. Report on Form 1040-SS if not required to file Form 1040 or 1040-SR.
- B—Uncollected Medicare tax on tips. Report on U.S. Form 1040 or 1040-SR. Report on Form 1040-SS if not required to file Form 1040 or 1040-SR.
- C—Taxable cost of group-term life insurance over $50,000 (included in boxes 1, 3 (up to the social security wage base), and 5)
- D—Elective deferrals to a section 401(k) cash or deferred arrangement. Also includes deferrals under a SIMPLE retirement account that is part of a section 401(k) arrangement.
- E—Elective deferrals under a section 403(b) salary reduction agreement
- F—Elective deferrals under a section 408(k)(6) salary reduction SEP
- G—Elective deferrals and employer contributions (including nonelective deferrals) to a section 457(b) deferred compensation plan
- H—Elective deferrals to a section 501(c)(18)(D) tax-exempt organization plan. (You may be able to deduct.)
- J—Nontaxable sick pay (information only, not included in box 1, 3, or 5)
- M—Uncollected social security tax on taxable cost of group-term life insurance over $50,000 (former employees only). Report on U.S. Form 1040 or 1040-SR. Report on Form 1040-SS if not required to file Form 1040 or 1040-SR.
- N—Uncollected Medicare tax on taxable cost of group-term life insurance over $50,000 (former employees only). Report on U.S. Form 1040 or 1040-SR. Report on Form 1040-SS if not required to file Form 1040 or 1040-SR.
- P—Excludable moving expense reimbursements paid directly to a member of the U.S. Armed Forces (not included in box 1, 3, or 5)
- Q—Nontaxable combat pay. See your tax return instructions for details on reporting this amount.
- R—Employer contributions to your Archer MSA. Report on Form 8853.
- S—Employee salary reduction contributions under a section 408(p) SIMPLE plan (not included in box 1).
- T—Adoption benefits (not included in box 1). Complete Form 8839 to figure taxable and nontaxable amounts.
- V—Income from exercise of nonstatutory stock option(s) (included in boxes 1, 3 (up to the social security wage base), and 5). See Pub. 525 for reporting requirements.
- W—Employer contributions (including amounts the employee elected to contribute using a section 125 (cafeteria) plan) to your health savings account (HSA). Report on Form 8889.
- Y—Deferrals under a section 409A nonqualified deferred compensation plan.
- Z—Income under a nonqualified deferred compensation plan that fails to satisfy section 409A. This amount is also included in box 1. It is subject to an additional 20% tax plus interest. See “Other Taxes” in the instructions for your tax return.
- AA—Designated Roth contributions under a section 401(k) plan.
- BB—Designated Roth contributions under a section 403(b) plan.
- DD—Cost of employer-sponsored health coverage. The amount reported with code DD is not taxable.
- EE—Designated Roth contributions under a governmental section 457(b) plan. This amount does not apply to contributions under a tax-exempt organization section 457(b) plan.
- FF—Permitted benefits under a qualified small employer health reimbursement arrangement.
- GG—Income from qualified equity grants under section 83(i).
- HH—Aggregate deferrals under section 83(i) elections as of the close of the calendar year.
- Box 13- If the “Retirement plan” box is checked, special limits may apply to the amount of traditional IRA contributions that you may deduct. See Pub. 590-A.
Note: Keep Copy C of Form W-2VI for at least 3 years after the due date for filing your income tax return. However, to help protect your social security benefits, keep Copy C until you begin receiving social security benefits just in case there is a question about your work record and/or earnings in a particular year.
Form W-2 Reference Guide for Box 12 Codes
|A||Uncollected social security or RRTA tax on tips||L||Substantiated employee business expense reimbursements||Y||Deferrals under a section 409A nonqualified deferred compensation plan|
|B||Uncollected Medicare tax on tips (but not Additional Medicare Tax)||M||Uncollected social security or RRTA tax on taxable cost of group-term life insurance over $50,000 (former employees only)||Z||Income under a nonqualified deferred compensation plan that fails to satisfy section 409A|
|C||Taxable cost of group-term life insurance over $50,000||N||Uncollected Medicare tax on taxable cost of group-term life insurance over $50,000 (but not Additional Medicare Tax) (former employees only)||AA||Designated Roth contributions under a section 401(k) plan|
|D||Elective deferrals under a section 401(k) cash or deferred arrangement plan (including a SIMPLE 401(k) arrangement)||P||Excludable moving expense reimbursements paid directly to members of the Armed Forces||BB||Designated Roth contributions under a section 403(b) plan|
|E||Elective deferrals under a section 403(b) salary reduction agreement||Q||Nontaxable combat pay||DD||Cost of employer-sponsored health coverage|
|F||Elective deferrals under a section 408(k)(6) salary reduction SEP||R||Employer contributions to an Archer MSA||EE||Designated Roth contributions under a governmental section 457(b) plan|
|G||Elective deferrals and employer contributions (including nonelective deferrals) to a section 457(b) deferred compensation plan||S||Employee salary reduction contributions under a section 408(p) SIMPLE plan||FF||Permitted benefits under a qualified small employer health reimbursement arrangement|
|H||Elective deferrals to a section 501(c)(18)(D) tax-exempt organization plan||T||Adoption benefits||GG||Income from qualified equity grants under section 83(i)|
|J||Nontaxable sick pay||V||Income from exercise of nonstatutory stock option(s)||HH||Aggregate deferrals under section 83(i) elections as of the close of the calendar year|
|K||20% excise tax on excess golden parachute payments||W||Employer contributions (including employee contributions through a cafeteria plan) to an employee’s health savings account (HSA)|
Form W-2 Box 13 Retirement Plan Checkbox Decision Chart
|Type of Plan||Conditions||Check Retirement Plan Box?|
|Defined benefit plan (for example, a traditional pension plan)||Employee qualifies for employer funding into the plan, due to age/years of service—even though the employee may not be vested or ever collect benefits||Yes|
|Defined contribution plan (for example, a 401(k) or 403(b) plan, a Roth 401(k) or 403(b) account, but not a 457 plan)||Employee is eligible to contribute but does not elect to contribute any money in this tax year||No|
|Defined contribution plan (for example, a 401(k) or 403(b) plan, a Roth 401(k) or 403(b) account, but not a 457 plan)||Employee is eligible to contribute and elects to contribute money in this tax year||Yes|
|Defined contribution plan (for example, a 401(k) or 403(b) plan, a Roth 401(k) or 403(b) account, but not a 457 plan)||Employee is eligible to contribute but does not elect to contribute any money in this tax year, but the employer does contribute funds||Yes|
|Employee contributed in past years but not during the current tax year under report||No (even if the account value grows due to gains in the investments)|
|Profit-sharing plan||Plan includes a grace period after the close of the plan year when profit sharing can be added to the participant’s account||Yes, unless the employer contribution is purely discretionary and no contribution is made by end of plan year|
Where to file paper Forms W-2 and W-3
Social Security Administration
Direct Operations Center
Wilkes-Barre, PA 18769-0001
If you use “Certified Mail” to file, change the ZIP code to “18769-0002.” If you use an IRS-approved private delivery service, add “Attn: W-2 Process, 1150 E. Mountain Dr.” to the address and change the ZIP code to “18702-7997.” Go to IRS.gov/PDS for a list of IRS-approved private delivery services.
Forms W-2 for U.S. territories | W2 Form 2023 PDF Download
In these instructions, reference to Forms W-2 and W-3 includes Forms W-2AS, W-2CM, W-2GU, W-2VI, and W-3SS, unless otherwise noted. These instructions are not applicable to wage and tax statements for Puerto Rico. Form W-2AS is used to report American Samoa wages paid by American Samoa employers, Form W-2CM is used to report the Commonwealth of the Northern Mariana Islands (CNMI) wages paid by CNMI employers, Form W-2GU is used to report Guam wages paid by Guam employers, and Form W-2VI is used to report U.S. Virgin Islands (USVI) wages paid by USVI employers.
Do not use these forms to report wages subject to U.S. income tax withholding. Instead, use Form W-2 to show U.S. income tax withheld. For employment-related information for employers with territory employees, see Pub. 80, Federal Tax Guide for Employers in the U.S. Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands.
If you e-file, do not file the same returns using paper forms
For more information about e-filing Forms W-2 or W-2c and a link to the BSO website, visit the SSA’s Employer W-2 Filing Instructions & Information website at SSA.gov/employer. In a few situations, reporting instructions vary depending on the filing method you choose. For example, you can include every type of box 12 amount in one employee wage record if you upload an electronic file. If you file on paper or create Forms W-2 online, you can include only four box 12 amounts per Form W-2.
Waiver from e-filing | W2 Form 2023 PDF Download
If you are required to e-file, you can request a waiver from this requirement by filing Form 8508, Request for Waiver From Filing Information Returns Electronically. Submit Form 8508 to the IRS at least 45 days before the due date of Form W-2, or 45 days before you file your first Form W-2c.
Use the “944” checkbox in box b of Form W-3 or Form W-3SS if you filed Form 944, Employer’s ANNUAL Federal Tax Return. Also use the “944” checkbox if you filed Formulario 944(SP), the Spanish-language version of Form 944.
IRS W2 Form Instructions PDF | W2 Form 2023 PDF Download
FAQ’s-W2 Form 2023 PDF Download | W2 Form Download PDF
Q: What is a W-2 form?
Ans: A W-2 form, also known as the “Wage and Tax Statement,” is a document provided by employers to their employees and the IRS. It summarizes an individual’s annual earnings, tax withholdings, and other relevant financial information.
Q: When do employers issue W-2 forms?
Ans: Employers are required to issue W-2 forms to their employees by January 31st of each year, reflecting the previous year’s income and tax details.
Q: How do I receive my W-2 form?
Ans: Your employer typically provides your W-2 form either as a physical copy or through an electronic format, such as an email or an online employee portal.
Q: Why is the W-2 form important?
Ans: The W-2 form is essential for accurately reporting your income and tax withholdings. It’s used to file your federal and state income tax returns and ensures you’re paying the correct amount of taxes.
Q: Can I access my W-2 form online?
Ans: Many employers provide the option to access your W-2 form online through employee portals or specific platforms. Check with your employer to see if this option is available.
Q: Can I file my taxes without a W-2 form?
Ans: It’s best to wait until you receive your W-2 form to ensure accurate tax filing. The information on the W-2 form is crucial for correctly calculating your tax liability or refund.
Q: What if there’s an error on my W-2 form?
Ans: If you notice an error on your W-2 form, contact your employer immediately to request a corrected version. It’s important to have accurate information for your tax return.
Q: What if I don’t receive my W-2 form by the deadline?
Ans: If you haven’t received your W-2 form by February, reach out to your employer to ensure they have your correct contact information and to request a copy.
Q: Can I use my last pay stub instead of a W-2 form?
Ans: It’s not recommended to use your last pay stub as a substitute for a W-2 form. The W-2 provides a comprehensive summary of your annual earnings and tax withholdings.
Q: Do I need to attach my W-2 form to my tax return?
Ans: No, you don’t need to attach your W-2 form to your tax return when filing electronically. However, if you’re filing a paper return, it’s a good idea to include a copy.
Q: Can I get an extension to file my taxes if I haven’t received my W-2 form?
Ans: If you need more time to file your taxes, you can request an extension. However, it’s still important to estimate your tax liability and pay any owed taxes by the original due date to avoid penalties and interest.
Conclusion: W2 Form 2023 PDF Download
The W-2 form serves as a comprehensive snapshot of your income and tax withholdings, aiding both employees and the IRS in ensuring accurate tax reporting and compliance. Understanding the components of the W-2 form and its significance is crucial for navigating the tax season effectively. If you have questions about your W-2 form or need guidance on how to correctly report the information on your tax return, consulting a tax professional can provide the clarity and assistance you need.