Yahoo Finance

The W-2 form is one of the most widely recognized tax forms for US workers and for good reason: It's absolutely essential for filing your income taxes. This form details your total earnings from the previous year, along with the taxes that were withheld from your pay.

If you're a full-time or part-time employee, you'll typically need to receive a W-2 from your employer to file your tax return. Employers were required to provide this form to their employees by Jan. 31. If you have multiple employers, you should have received multiple W-2s.

To help you navigate this process, we've gathered all the key information about the W-2 form: what it is and what information it contains. We'll also break down what you should do if you have not yet received your W-2 form.

For more key tax tips, review important tax season deadlines and which regions may have tax extensions for the 2025 tax season.

What is a W-2?

A W-2 form, also known as the Wage and Tax Statement, serves as the official record of your earnings and the taxes withheld from your paycheck during a given tax year. You'll use this form to calculate how much you owe in taxes or the tax refund you may receive.

The form includes important details about:

• Gross wages

• Income tax withheld (federal, state and local)

• Contributions to retirement plans, such as a 401(k)

• Contributions to a health savings account (HSA)

• Social Security and Medicare taxes withheld

• Tips or other forms of compensation

Whether you file your taxes on paper, through tax software or via a professional tax preparer, you'll need to reference the information on your W-2 to complete your return.

When will I receive my W-2?

Because your W-2 is vital to completing your tax return, your employer has a deadline to get your form to you: Employers were required to issue W-2 forms by Jan. 31.

Your W-2 could come in the mail or will be available electronically through an online portal or email. No matter how you receive your forms, it's important to keep a copy of the W-2 for your records.

What should I do if I have not yet received my W-2?

If you have not received your W-2 tax form already -- and you've double-checked that your employer hasn't emailed instructions on how to access your W-2 online -- then there are a few steps you can take.

First, you should contact your human resources or payroll department to ask about the status of your W-2. You can also contact them if you lost a W-2 you were sent. If your employer is not able to help you get your W-2, you can contact the IRS directly at 800-829-1040. The agency will contact your employer and request your missing W-2 form for you.

When contacting the IRS for help, you'll need to have the following information ready to verify your identity:

• Your legal name, address, Social Security number and phone number

• Your employer's name, address and phone number

• The dates you worked for the employer

• Estimates of wages and income tax withheld. (You can find this on your last paycheck of the year.)

The IRS recommends waiting until the end of February 2025 before reaching out, as your form may already be on the way or has just been delayed in the mail.

How do I read my W-2 form?

Once you receive your W-2, you may feel overwhelmed by the many boxes and details included. This form is vital for filing your tax return accurately, so you'll want to understand each piece of information.

Here's how to read your W-2 and what the information means:

Employee and employer information

Across the top and left-side columns of the form, you'll find boxes a to f with key personal information: your legal name, Social Security number, home address, employer details and employer identification number (a unique identifier for the business).

Wages and salary information

Box 1: Wages, tips and income

• Your total taxable income earned from your employer.

Box 2: Federal income tax withheld

• The total amount of federal income tax withheld from your paychecks.

Box 3: Social Security wages

• Your total wages that are subject to Social Security tax.

Box 4: Social Security tax withheld

• The amount of Social Security tax withheld.

Box 5: Medicare wages and tips

• Your total wages subject to Medicare tax.

Box 6: Medicare tax withheld

• The amount of Medicare tax withheld.

Box 7: Social Security tips

• If you received compensation by tips (servers in restaurants, nail and hair stylists, hotel employees, etc.), this box shows the amount subject to Social Security tax.

Box 8: Allocated tips

• Amount in tips that your employer has allocated to you.

Box 9: Verification code

• Don't worry about this mysteriously grayed-out section. It was formerly used for reporting advance payments for the Earned Income Credit but this tax perk ended in 2010. You can ignore this box and move on.

Deductions and contributions

Box 10: Dependent care benefits

• Any employer-provided financial assistance or benefits for dependent care.

Box 11: Deferred compensation plans

• Contains any deferred compensation, such as stock options and bonuses.

Box 12: Codes

• This box contains additional compensation or reductions to taxable income, such as contributions to a 401(k), adoption benefits or retirement plans. There are 28 specific items that can be found here, each designated by a single or double-letter code. For example, "D" is referring to 401(k) contributions.

Box 13: Income not federally taxed 

• This box will show three types of income that aren't subject to federal tax: Employer-sponsored retirement plans like a 401(k), third-party sick pay like private insurance or money earned as a statutory employee.

Box 14: Various income and benefits

• Additional information about other types of compensation or deductions. The contents of Box 14 can vary by employer, but common items reported in this box include state disability insurance, tuition assistance, union dues and charitable contributions.

State and local tax information

Box 15: State and state identification number

• Your employer's state tax ID number.

Box 16: State wages

• The amount of wages, including tips, subject to state income tax.

Box 17: State income tax withheld

• The amount of state income tax withheld.

Box 18: Local wages

• The amount of wages, including tips, subject to local income tax.

Box 19: Local income tax withheld

• The amount of local income tax already taken via your paycheck.

Box 20: Locality name

• The name of the town or city where local taxes are applicable.

For more tax tips, see how much income brackets and the standard deduction are changing in 2025, and how to use IRS Free Fill to file your tax return for free.