1098 Mortgage Interest Statement1098 Mortgage Interest Statement
Alternative Minimum Tax (AMT)Alternative Minimum Tax (AMT)
Capital Gains TaxCapital Gains Tax
Capital LossCapital Loss
Child Tax CreditChild Tax Credit
Child and Dependent Care CreditChild and Dependent Care Credit
DependentDependent
Earned Income Tax Credit (EITC)Earned Income Tax Credit (EITC)
Estate TaxEstate Tax
Form 1040Form 1040
Income TaxIncome Tax
Itemized DeductionItemized Deduction
Standard DeductionStandard Deduction
Tax BracketTax Bracket
Tax CreditTax Credit
Tax DeductionTax Deduction
Tax FilingTax Filing
Tax Filing DeadlineTax Filing Deadline
Tax Filing ExtensionTax Filing Extension
Tax LiabilityTax Liability
Tax Loss HarvestingTax Loss Harvesting
Tax RefundTax Refund
Tax Refund Anticipation LoanTax Refund Anticipation Loan
Tax ReturnTax Return
Tax ShelterTax Shelter
Tax StatusTax Status
Tax WithholdingTax Withholding
W 9 FormW 9 Form
W-2W-2
Withholding AllowanceWithholding Allowance
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W-2

Definition

A tax form that reports your annual wages and the taxes withheld from your paycheck, essential for filing your tax return.

What to consider

  • Fill it out carefully to avoid delays in payment processing.
  • Keep a copy for your records.
  • Update it whenever your personal information changes.

Real world scenarios

  • At tax time, Monique cross-references her W-2 with pay stubs to confirm wages and withheld amounts match before filing.
  • Bryan notices his name spelled incorrectly on the W-2. He contacts HR for a corrected version to avoid issues with the IRS.
  • Storing W-2 forms safely helps Ben demonstrate consistent employment history when applying for a mortgage.

Related terms

Tax Refund
Standard Deduction
Earned Income Tax Credit (EITC)
Capital Gains Tax
Tax Loss Harvesting

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