W-2 Form Used For?

What makes a W-2 form so significant in the tax season? Employers use it to report the annual income of the employee and taxes that need to be deducted from the paycheck. The employees fill in the w-2 form for their tax returns. Wondering what is a W-2? The answer is that it is a record of your annual income and taxes deducted. The IRS also receives your W-2 form and can use it to compare it with your tax returns. You will have fewer chances of mistakes with tax filing if you review your W-2 form.