What is the difference between w-2 forms and your federal income tax return?

Question

well I told my parent that I need the tax return and she said same thing but i think she was parranoid for me asking her for it

Answer 1

You receive four copies of the W-2 form from your employer by the end of January each year. It is the official statement of your income, as well as various totals you will need to file your state and federal tax forms. It gives you your taxable income for the past year and all the deductions that were taken out, for state disability taxes, social security, federal taxes, etc. You keep one copy with your copies of that year's tax forms, and attach one each to your federal and state forms before you send them in. Some cities charge local taxes, so there is an extra one in case you need to provide it when you file those. You can't file your taxes until you receive your W2.

Answer 2

they are two different things, as everyone above stated.

If you mother only has one job and had no other earnings (interest, stocks, another job, etc)  then, everything you need to fill out your student loan papers will be on the w-2.  however, is she did have other earnings, you will need either the tax return or the w-2's or other forms from those earnings.

Answer 3

well, W-2 is the form you get from your boss which shows how much money you've made, and how much tax has been deducted from your checks.  

You use the W-2 (information) to fill out your tax return.

Answer 4

the w-2 form is the form tyou fill so that your employer can take the correct amount of taxes so that at the end of the year you can file and get a return...

Answer 5

Your w2 is what you get from your employers at the end of the year saying how much income you made that year. Your tax return is what you file USING those w2's to the government

Answer 6

They're two completely different things.

The W-2 form is prepared by your employer and sent to you and to the IRS. It tells how much income you made and how much was withheld in taxes by your employer.

The tax return (1040) is the form that you fill out stating how much money you made and calculating how much tax you owe on it. You send the form to the IRS. You have to enter the numbers from your W-2 on the 1040 form.

Answer 7

A W-4 is the form you fill out and give to your employer so that they can withhold taxes from your paycheck.

A W-2 is the form the employer gives you in January.  It states your wages, withholding amounts and social security & medicare withholding.  It also provides other information if it pertains to your situation: dues, 401K contributions, medical insurance etc...

You may also get other forms in January such as 1099-int that tells you how much interest you earned, 1099-misc forms if you are an independent contractor, 1098 mortgage interest, 1098-T school tuition.

You use the information on the W-2 and other forms to fill out the 1040, 1040A, or 1040EZ tax return which is due April 15th.

Answer 8

The W-2 is your annual wage statement supplied to the IRS (and you) by your employer.  You file a copy with your federal tax return.

Answer 9

w-2 form is what your employer sends to you so that you have all the information to file a federal tax return.  It shows what you made for the year at that job and how much taxes you paid, etc.