Understanding Your Tax Documents, Step by Step

Kelly Phillips Erb
Updated
Understanding your tax documents -- do you have all you need to file correctly?
Understanding your tax documents -- do you have all you need to file correctly?

It's that time of year, when your mailbox is overflowing with all kinds of tax documents and forms. But what the heck do they all mean? Here's a brief rundown:

Form W-2

Your form W-2, Wage and Tax Statement, is an information return used by your employer to report wages or compensation paid to you during the year. The form reports your employer's basic information (name, address and tax identification number) as well as your own information (similarly, name, address and tax identification number).

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