Question

Your employer sends you a _______ form that tells you how much you've made and how much you've paid in taxes in the last year.

Answer 1

The correct answer is W-2

Explanation: W-2 is officially titled "Wage and Taxes Statement".

Form W-2 is used to report how much an employer paid your employee in the last calendar year and how much tax was withheld from this payment. The employer has to submit Form W-2 to the IRS, so that the IRS will verify that the employer collects all taxes due.