Bottom line: Your W-2 summarizes your wages and the taxes your employer withheld from your paychecks during the year. It arrives by January 31. You enter the numbers into your tax software or return exactly as shown. If anything is wrong, contact your employer immediately: the W-2 you receive must match the W-2 your employer sends to the IRS.
The W-2 (Wage and Tax Statement) is the tax document employers send to employees each January. It summarizes everything that matters about your compensation for the prior tax year: how much you earned and how much was already withheld for federal, state, and local taxes.
When and How You Receive It
Employers are legally required to mail or make available W-2s by January 31. Most employees receive theirs by early-to-mid February. Many employers now offer electronic W-2s through their payroll portal, so check there first if you have not received it by mail.
If you worked for multiple employers during the year, you receive a W-2 from each.
If you have not received your W-2 by mid-February, contact your employer's HR or payroll department. If they cannot resolve it, the IRS has a process for requesting that employers reissue the form.
The W-2 Box by Box
- Label
- Wages, tips, other compensation
- What it means
- Your total taxable wages: this goes on your return
- Label
- Federal income tax withheld
- What it means
- What your employer sent to the IRS on your behalf
- Label
- Social Security wages
- What it means
- Wages subject to Social Security tax (capped at $176,100 in 2026)
- Label
- Social Security tax withheld
- What it means
- 6.2% of Box 3
- Label
- Medicare wages and tips
- What it means
- Wages subject to Medicare tax (no cap)
- Label
- Medicare tax withheld
- What it means
- 1.45% of Box 5 (plus 0.9% Additional Medicare Tax if earnings exceed $200K)
- Label
- Codes
- What it means
- Pre-tax benefits: Code D = 401(k), Code W = HSA, Code DD = employer health insurance
- Label
- Checkboxes
- What it means
- Retirement plan participation, statutory employee status
- Label
- State/local info
- What it means
- State wages, state tax withheld, state/locality codes
Box 1 vs. Box 3: Box 1 (taxable wages) is often lower than Box 3 (Social Security wages) because pre-tax retirement contributions (401(k), 403(b)) reduce taxable income for federal purposes but not for Social Security. Box 1 is what you report as income on your federal return; the two boxes serve different purposes.
Box 12 codes to know:
- D: Traditional 401(k) contributions
- E: Traditional 403(b) contributions
- W: Employer and employee HSA contributions
- AA: Roth 401(k) contributions
- DD: Cost of employer-sponsored health insurance (informational only, not included in your taxable income)
- Enter your W-2 information exactly as printed. Do not round, do not estimate. The IRS matches what you report against what your employer submitted. Discrepancies trigger notices or audits.
- If your W-2 has an error (wrong Social Security number, wrong wages), request a corrected W-2 (Form W-2c) from your employer before filing. Do not file with a W-2 you know is incorrect.
- Box 2 (Federal income tax withheld) is the amount applied against your tax bill. If it exceeds what you owe, the difference is your refund. If it is less than what you owe, you owe the balance.
W-2 vs. W-4 vs. 1099
These three forms are frequently confused:
W-4 (Employee's Withholding Certificate): The form you fill out when starting a job that tells your employer how much to withhold. You control this. File a new W-4 when your situation changes (marriage, new child, second job).
W-2 (Wage and Tax Statement): The year-end summary of what you earned and what was withheld. Your employer controls this; you receive it.
1099 (various types): Issued to independent contractors, freelancers, and others who are not employees. No taxes are withheld; the recipient is responsible for estimating and paying their own taxes quarterly.
What If You Lost Your W-2?
First, check your employer's payroll portal. Most large employers provide electronic copies. If unavailable, contact payroll/HR to request a reissue. You can also request a wage and income transcript from the IRS (available at IRS.gov) which shows what employers reported, though it may not be available until mid-year.
In an emergency, you can file using Form 4852 (a substitute W-2) with your best estimate of wages and withholding, but this delays processing and may require correction later.
W-2 box labels, Social Security wage bases, and withholding rates change annually. Verify current thresholds at IRS.gov.
Frequently Asked Questions
When should I receive my W-2?
What is the difference between Box 1 and Box 3 on my W-2?
What do I do if my W-2 has an error?
What if I never received my W-2?
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