What Is the W-2 Form and Why Should an Employee Have It?

Have you ever asked yourself what is the W-2 form and why your employer gives it to you? The W-2 form is an essential tax document which shows your salary for the year and the taxes withheld from your salary. The W-2 form is normally sent to an employee at the end of the tax year so that the individual could use information from this form to prepare his or her tax return. If you ask yourself what is the W-2 form and why you should have it, then it is important to understand what the W-2 form is in order to make your tax preparation easier. Careful review of your W-2 form will allow you to notice incorrect figures in your income or withheld taxes.