The Wage and Tax Statement given to each employee annually is:
A) Form W-4.
B) Form 1040.
C) Form W-2.
D) Form 941.
E) Form 940.

Question

Quizplus · Accepted Answer

The Wage and Tax Statement given to each employee annually is Form W-2, which reports the employee's total earnings for the year along with the amount of federal, state, and other taxes withheld from their paycheck. Form W-4 is a form that employees fill out to indicate their tax withholding preferences, while Form 1040 is the individual income tax return form. Forms 941 and 940 are used by employers to report payroll taxes.

The Wage and Tax Statement Given to Each Employee Annually