Category: General Knowledge | Last updated: 2026-09-18
For employees in the U.S., what is the primary purpose of the W-2 tax form issued by an employer?
A) To report capital gains from investments.
B) To declare self-employment income.
C) To summarize annual wages and the amount of taxes withheld.
D) To request a tax refund from the IRS.
Explanation
The W-2 form reports an employee's annual wages and the amount of federal, state, and other taxes withheld from their paychecks. This information is crucial for filing their income tax return.