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Instant Online W2 Form Generator

A simple way to create a W2 online. Generate, print and use. It’s that simple!

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What is a W2 Form?

The W-2 form is a form that reports the employee's annual wages, and the summarized breakdown of taxes that the employer withheld from his paycheck for the entire year. The employer must generate a W-2 form and send it to his employee by the end of the year, so that the employee can use it when filling his yearly taxes to the IRS (Internal Revenue Service).

Why choose our W2 Generator?

Our W-2 generator is the simplest and the most advanced W-2 generator tool you will find online. In less than 2 minutes, you can create a W-2 form, automatically filled with correct calculations and ready to be sent to your employees. Providing your company information, as well as the employee information and wage details is all you need to instantly create your W-2 form with us!

Benefits

Using our W-2 maker, you will be able to quickly create any W-2 form for your employees, and have it ready to be sent to them, relieving you of all the stress of filling out forms. Our agents are available 24/7 through chat, phone and e-mail to answer all kinds of questions and inquiries you might have.


Useful Information

What Is A W2 Generator?

Heard a lot about the W2 form but you can’t quite define it? What even is a W2 generator? Let’s answer these questions and more. A W2 form or W2 online is not just another tax document but one of the most important tax documents you need to present. A wage and tax statement sums up what a W2 online is all about. Essentially, a w2 generator is a tool used to calculate all your yearly wages alongside the federal and state taxes withheld from the paychecks.

Let’s delve deeper into the anatomy of a W2 form, its uses, and how to create a W2 online using a W2 creator or a W2 maker in a few easy steps.

Each paycheck you receive from your employer has income tax deductions subtracted from it. That is due to the fact that both federal and state governments impose income tax throughout the calendar year. This helps you understand just how much money was made and how much went to taxes in a specific set period. A W2 form received in January 2021 for instance, will reflect the income and deductions of the year 2020.

This form is usually sent out to employees either as a hardcopy or a W2 online no later than January 31st of each year unless of course, that falls on a weekend then it must be sent out on the very next business day. There is an exception to this as well. If you are an independent contractor or a freelancer, then you will need to fill out a 1099 misc form by yourself as that is not a form given out by an employer for your services.

A business owner must send out the W2 form to both the employee as well as the IRS. There’s not much to be done with your W2 once you receive it. To the IRS, the W2 form is also known as international return since it is sent out to the various parties, mainly the following.

  • The federal government
  • The state
  • The employee

What Does A W2 Form Look Like?

So far it sounds quite discouraging doesn’t it? Let’s break it down a bit further.What does a W2 income statement look like? A form W2 contains a ton of boxes, each mentioning a portion of your earnings and withholdings. Being able to understand these boxes and their connotation allows you to properly and correctly convey the story on your tax return forms.

If in the case that your form W2 was mailed to you and you did not receive your W2 online, you can easily rip it open. You will notice numerous boxes filled with all sorts of information and abbreviations. Let’s take the acronym AGI for instance. Adjusted gross income or AGI is a formula best described as total gross income minus certain deductions. It is the first step towards finding your tax liability or how much you owe the government.

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You can also use AGI to determine other deductions. Some, deduct medical expenses but you can only do that if your medical deductions exceed a certain percentage of your AGI. Find out more about AGI and how you can calculate it from your W2 form. Below you will find some of the boxes found on your W2 form discussed with their meaning at a glance.

an example of a blank w2 form
  • Box A - F: include your personal and employer information
  • Box 1: shows how much of your income during the fiscal year was taxable
  • Box 2 - 6: show you if any income was withheld for federal or state income tax, medicare, social security tax, etc
  • Box 7 - 10: list items such as tips, reimbursements, or even income credits.
  • Box 13: is optional and depends if you've participated in your employer's retirement program, or if you received any third-party sick pay.
  • Box 14: includes any additional tax information your employer would find important and mention.
  • Box 15 - 20: include state income tax information necessary.

Check out the full guide on how to understand your W2 form in more detail, to become a professional on this topic. Keep in mind, that you will need to know the total amount of taxes withheld before you can figure out if you will get a refund or need to make an additional tax payment.

When Will I Get My W2?

The Ideal Situation:

Ideally, an employee would receive an envelope in the mail from his/her employer with the form W2 enclosed or a W2 online by email. Usually, this is done by or before January 31st. If you have not received your form W2 in time, you can contact your employer. If, by chance, you have given them several attempts to comply, but all in vain, you can raise this issue with the IRS and contact them directly at 800-829-1040.

The Previous Employer Situation:

Whether you have switched jobs, or recently quit your job and moved to a whole other domain, it does not matter. You need to gain access to all your W2 forms. Even if you left your job several months ago, your employer or previous employer is required to send you a W2 form by mail or a W2 online by the same date of January 31 unless you specifically ask for it earlier. The company then has 30 days to provide you with your W2 form.

The Paystub Situation:

If for any reason, you were unable to receive your form W2 by mail or a W2 online, you can still get the needed information to determine your taxable income through a previous pay stub that you have received. Learn about calculating your W2 wages from a paystub in our short video.

The W2 Maker Situation:

Let us assume that none of the above methods proved fruitful. What can you do then? A W2 maker can be your best option to file your tax return in time. Using the W2 creator platform, you can create W2 online easily and reap the benefits of an early tax refund. Get your W2 online today through our user-friendly W2 generator. One document in and you’ll surely be telling your friends and colleagues all about the W2 creator. Just check out our reviews page and see how many individuals and businesses create W2 online with our w2 generator.

Can I File Both W2 And 1099 MISC Form?

In a usual scenario, one would require a proof of income to file a tax return. What happens then to individuals who have both a form W2 online as well as a 1099 misc? What if you are a self-employed taxpayer but have received a W2 form in the past? This can increase the amount of stress on individuals as if tax season isn’t stressful enough but don’t worry, keep reading.

A 1099 misc form is a document created by the IRS to support any income that does not come from a standard job. It serves as evidence that additional income has been made. Wondering which form to file? That is a very common question that has many answers but the short one is, file both your W2 & 1099 misc form. The more the merrier and the more documents you file, the better you stand with the IRS. It simply shows that you are being diligent and have nothing to hide.

Unfortunately, all sources of income must be mentioned and filed accordingly. The good news is that if you receive both these forms, you probably won't owe as much money as someone who only receives a 1099. A self-employed individual or freelancer will have the headache of calculating how much they owe in taxes exactly as opposed to someone who receives a W2 online or a hardcopy.


How Do I Create W2 Online With A W2 Generator?

Carrying around a lot of tax stress and anxiety? Let it go! Our aim at ThePayStubs is to alleviate you of any further stress. Using our W2 maker, you can do just that by easily creating and verifying your form W2 online.

You can also send your W2 online to the respective parties electronically. Isn’t this option much easier than the alternative of waiting around for your employer? You can find out how you can get your W2 online via multiple ways as well actually.

You can also estimate how much you owe in taxes and how much was taken out of your paycheck for the set year. This option also helps out a lot of companies looking to streamline all of their payroll documents and even save them for later usage or simply for reference.

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There are many documents that you need to keep or produce come tax filing time just don’t confuse a W2 form with a W4 form. They are quite different. A W4 form is what you fill at the beginning of your employment at any organization. This is where you enter your marital status, the number of dependents, anticipated tax credit as well as anticipated deductions.

Filing out the W4 form as accurately as possible is crucial. Any mistake can make you end up owing more taxes when you file your return. Note that you can submit a new W4 form to your HR department at any time if anything in your situation changes. Still, wondering what makes them different? Check out the full guide on the major differences between a W2 form and a W4.

Do Businesses Report Company Health Insurance Coverage For Employees?

Businesses, nonprofits, and public entities are all required to provide health insurance for their employees under a group health plan. This shows that they have complied with IRS regulations. If a business has less than 25 full-time employees, then they could be eligible for a small business healthcare tax credit. This is an initiative from the IRS to help with the cost of providing coverage.

If however, the business has fewer than 50 full-time employees, then they may be eligible to buy coverage through the Small Business Health Option Program (SHOP). Employers must record employee healthcare benefits on the W2 form be it in hardcopy form or a W2 online within Box 12 with code DD.

According to the AICPA, all business entities must report the total company health insurance cost of all group plans. Such group plans could include, self-insured, contributed a percentage to the employer, as well as employer sponsored health coverage. This includes direct, indirect or any other forms of health insurance.

Individuals and family members must be aware that most states require Americans to have qualifying health insurance or at least the bare minimum. Enforcing this allows individuals with chronic conditions to not carry all of the burdens of the payment themselves. Each state has a different set of rules when it comes to healthcare. Make sure you are compliant with the healthcare laws of the state in which you reside. Find out how your healthcare plan affects your tax return in the various scenarios provided so you have a wholesome understanding of the topic and you don’t get duped easily.

What Are The Penalties To Watch Out For When Failing To Comply With The IRS?

Companies and business entities must watch out for the hefty penalties that could come crashing down on them if they are not compliant with the IRS rules and offer minimum essential healthcare coverage. Companies must provide proof of coverage for 95% of their employees and their dependents at any given month.

The IRS issues fines for every month that an employee has not received an offer of coverage. More dollars down the drain but it does not have to be this way. Fortunately, business owners can avoid the hassle and the daunting penalties by understanding the ACA reporting requirements and accurately reporting health insurance.

Large companies who do not comply with the ACA health coverage rule must pay a hefty sum. Employers are actually not required to calculate the shared responsibility payment on any tax return that they file. However, the IRS will mail them a paper listing all of their tax liability and provide them with an opportunity to respond or retaliate before they demand payment to be made.

As for individual penalties and fines, you must always check that you are in full compliance with the rules of the state you reside in as well as the IRS regulations or you will have to prepare to face some fines and strict penalties. Some of the most common penalties include:

  • Failure to file on time or by the extension time granted
  • Failure to pay taxes reported and owed in full by their due date of April 15
  • Failure to pay unreported tax or in other words did not pay enough in taxes
  • Dishonored check due to insufficient funds

The good news is that you may qualify for penalty relief. All you need to do is show evidence that you have made every conscious effort to comply with all the requirements necessary but were still unable to meet the required tax obligations. This must be due to certain incidents that were out of your control.

In the event that you receive a notice from the IRS, be sure to check all the information on it carefully and verify it. If you are able to resolve any issue on your notice, your penalty may not be applicable to you anymore! You can also check out the penalty appeal document and stay in the know. Finally a light at the end of the tunnel.


What Do I Do If I Lost My W2?

One of the most common human errors in the US is misplacing a tax document, one being the W2 form. That is actually why most people recommend using a W2 online. Individuals who have a missing w2 or a lost w2 could face a few complications with the IRS especially if they don’t include and file the missing document co me tax time. There are a few ways you can address this issue.

Contact your previous employer

Ask them to send or resend the W2 form to you by mail or email so you can keep your W2 online

Contact the IRS

Mention that you have misplaced your document and file for an extension. You can apply for an extension that usually lasts for 6 months. You can do this by visiting the IRS website and using the free file to e-file the extension. In addition, you could also mail-in form 4868 for an automatic extension to file your tax return. Make sure you send it in by or before the midnight of April 15.

Utilize the W2 creator Platform

Create W2 online today and save yourself the paperwork hassle. Using a W2 generator can help you avoid extra penalties as well since you can create your document just in time for tax filing.

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Keep in mind that the IRS could penalize you for incomplete tax return filing or even late filing. Filing your tax return late could result in a monthly penalty. That is the last thing you want to do as it affects your credit score negatively and begins the journey of your accumulating debt.
If more than 60 days have passed and you still have not filed, be prepared to pay a hefty sum. The IRS could impose a harsh penalty ranging anywhere from $135 to 100% of your unpaid taxes for any of the above situations.
Your best bet is to file all your documents on time. The tax return date is due April 15th of every year. Plan ahead of time so you do not fall into unnecessary debt and penalties. Keep in mind that the IRS could delay processing your return until it verifies all the information.

What Do I Do If I Have More Than Two W2 Forms?

Here’s an interesting fact, the latest studies have shown that Americans have hit an all-time record high of having 2 or more jobs. It is estimated that more than 13 million Americans have multiple jobs and side gigs. That’s an impressive number.

Having 2 or more jobs can also be daunting since you undoubtedly will have a lot of responsibilities and obligations at work and at home. Well, there is the matter of multiple W2 forms that you need to consider. This can add a few more steps come tax time since you will need to provide all of your W2 forms from every single job you held or still hold within a tax year.

a cartoon man with two thought bubbles above him

Having your W2 form gives you an exact report of how much money you made in a given year. Its purpose is to provide you, the IRS, the state and federal government with your income, tax, and deduction information. This helps the IRS determine whether you get a generous tax refund or possibly owe more in taxes. Let’s hope it’s the former one!

As a result and a general rule of thumb, you must attach all of your W2 forms from each employer. So what happens if you forget or simply do not file your form W2 online or by mail?

Well, the good news is, if you filed your tax return, with a w2 missing, you could receive a return. If however, the tax filing seems shady like you tried to conceal some information and you owe more in additional tax then you must immediately file for an amendment and pay the tax owed no later than April 15 to avoid late penalties and unnecessary fees.

Whether you are an individual, head of a household, businessman, or company owner, stay in the know of tax news and avoid needless fees by browsing through our informative blog section or even checking out our paystubs creation services. Perhaps you could pick out one of our paystub templates to complete tax filing in time and get your return faster.

Our documents make it easier for you to switch to a more environmentally friendly option of electronic transfer rather than printing and wasting paper. After all, we are all in the race towards sustainable development.