Paycheck
Gross Pay
Gross Pay
The money earned before deductions.
Net Pay
The money earned after deductions.
Deductions
The money taken out of your paycheck by your employer.
W-2 Form
W-2 Form
The form that an employer must send to an employee and the Internal Revenue Service (IRS) at the end of the year. The W-2 form reports an employee's annual wages and the amount of taxes withheld from his or her paycheck.
The form that an employer must send to an employee and the Internal Revenue Service (IRS) at the end of the year. The W-2 form reports an employee's annual wages and the amount of taxes withheld from his or her paycheck.
W-2 Form
A form used by your employer to withhold the proper amount of federal income tax from your paycheck. The IRS recommends that employees submit a new W-4 tax form each year, or any time their personal or financial situation changes.
