What form must your employer send you by January 31st to report your earnings and taxes withheld?

What form must your employer send you by January 31st to report your earnings and taxes withheld?

• A. W2
• B. W4
• C. 1099
• D. 1040

Answer: (A)

The correct form your employer must send you by January 31st to report your earnings and taxes withheld is the W-2 form. The W-2 form provides a detailed account of an employee's annual wages and the taxes withheld from their paycheck, including federal, state, and local taxes. This form is essential for employees when filing their income tax returns, as it summarizes all compensation received from the employer throughout the year. In contrast, the W-4 form is used by employees to indicate their tax withholding preferences to their employers, but it is not a report of earnings. The 1099 form serves a different purpose; it is typically issued to independent contractors or other non-employee workers who receive payments from a business but do not have taxes withheld. The 1040 is the individual income tax return form that taxpayers use to report their total income, claim deductions, and calculate tax liabilities but is not issued by the employer. Hence, the W-2 is the required form for reporting earnings and withholding taxes for employees, making it the appropriate choice.

The correct form your employer must send you by January 31st to report your earnings and taxes withheld is the W-2 form. The W-2 form provides a detailed account of an employee's annual wages and the taxes withheld from their paycheck, including federal, state, and local taxes. This form is essential for employees when filing their income tax returns, as it summarizes all compensation received from the employer throughout the year.

In contrast, the W-4 form is used by employees to indicate their tax withholding preferences to their employers, but it is not a report of earnings. The 1099 form serves a different purpose; it is typically issued to independent contractors or other non-employee workers who receive payments from a business but do not have taxes withheld. The 1040 is the individual income tax return form that taxpayers use to report their total income, claim deductions, and calculate tax liabilities but is not issued by the employer. Hence, the W-2 is the required form for reporting earnings and withholding taxes for employees, making it the appropriate choice.