Posted in: IRS

1099 vs. W-2

Form W-2 and Forms 1099 are used to report income. The only thing that differentiates the two is the type of income being reported. While Form W-2 reports wage, salary and other compensation paid to employees by an employer, Form 1099 reports all other types of income. There are more than just one type of […]

Posted in: IRS

W-2 Form 2021

Employers are required to report income paid to employees and total taxes withheld from their paychecks on Form W-2. Without this IRS tax form, the employee cannot file their federal income tax return properly. So it is a very important tax form that all employers must complete for every employee they have. That is why […]