• Duranie@lemmy.film
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    1 year ago

    W2 is a tax form employers provide employees that shows what they made, state and federal taxes withheld, and other relevant information. The business keeps a copy, provides a copy to the employee, and submits a copy to the government for record keeping/tax purposes.

    1099 is another form that gets referenced as well. It’s a form for “independent contractors.” It’s supposed to be an accounting for contracted work, but it’s often abused. In too many cases across many industries, some employers will misclassify employees to save themselves money and put the greater tax burden on the person working for them.