As you go along in life and pay your payroll taxes you are determining the amount of Social Security annuity payment you will receive as a retiree.

Who Completes the W-2 Tax Form? Who calculates the W-2?

Employers complete a W-2 tax form for each employee. Employers must give their employees their W-2 form on or before January 31st of the calendar year. There are actually six copies of the W-2 form. Copy A, B, C, D, and 1 & 2. Each copy of the W-2 tax form has its own purpose.

Common Mistakes on W-2 Tax Form

1) Do not use a decimal point for dollar amount entries

2) Use only black ink and press hard enough to see through all copies

3) Use 12 point Courier font if possible

4) Add dollar signs to money amount boxes – not required on Copy A

5) Get first name, middle initial, and last name in correct boxes

W-2 Calculator Helps Prepare Tax Forms with Online Tax Software

A W-2 calculator will help employers compute the appropriate tax amounts for each employee. If you are new to calculating dollar amounts for the W-2 tax form, you may want to take a look at online tax preparation software. The most reputable tax services offer a W-2 calculator that acts like a wizard and asks a series of questions to populate the data entry boxes.