You are eligible for the extension even if you don’t live in Texas but were affected by the storm. NOTE: If you are among those affected by the February 2021 snowstorm disaster in Texas, you must know that the deadline for tax filing has been postponed to June 15, 2021. It signifies the income that you earned in 2020. For instance, say you received a W-2 form in January 2021. One files the tax documents for the previous year. The W-2 form must be sent on or before January 31 each year so that one has sufficient time for filing the income taxes before the deadline, i.e., April 15 (in most years). It doesn’t account for contracted or self-employed workers, as they file taxes with different forms. A W-2 employee is someone whose taxes are deducted from their paychecks by his employer, and he further submits this information to the government.Īn employer must send the W-2 form to every employee to whom they pay salary, wage, or another form of compensation.
A W-2 reports employees’ annual wages and the amount of taxes retained from their paychecks. It is a document that an employer has to send to all his employees and the Internal Revenue Service (IRS) at the end of the year. W-2 Form is also known as the Wage and Tax Statement form.
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