What a W-2 actually is

A W-2 is your employer's official summary of what they paid you and what they withheld from your paycheck for taxes. You get one from each employer you worked for during the year. The IRS gets a copy too — that's why you can't just skip reporting a job.

When it arrives

Employers have to send W-2s by January 31. Many post them online through payroll portals like ADP, Workday, or Gusto. If February rolls around and yours is missing, contact your HR or payroll team first. Still nothing by mid-February? Call the IRS at 800-829-1040.

Box-by-box quick tour

Box 1 — Wages, tips, other compensation

Your taxable wages for federal income tax. This is usually lower than your total salary because pre-tax items like 401(k) contributions and health insurance premiums are already removed.

Box 2 — Federal income tax withheld

The federal tax already sent to the IRS on your behalf. If this number is bigger than your final tax bill, you get a refund. If it's smaller, you owe.

Box 12 — Codes

A mini-decoder for special items. Common codes: D = pre-tax 401(k), DD = employer's health coverage cost (informational only), W = HSA contributions.

Boxes 15–17 — State info

Your state, state wages, and state tax withheld. You'll need these to fill out your state return.

What to do if it's wrong

Small typo in your address? Not a big deal — fix it on your return. Wrong SSN, wrong name spelling, or wrong dollar amounts? Ask your employer for a W-2c (corrected W-2) before you file. Filing with bad data almost always means an IRS notice a few months later.