A W-2 is a tax form employers send to employees at the end of the tax year. The W-2 includes information pertaining to wages and withholdings that were accumulated throughout the year. The data printed on the W-2 must be accurate because employers also send the W-2 tax forms to the Internal Revenue Service for processing — the wages and withholding information you put on your income tax return need to match what was already sent to the Internal Revenue Service.
Review the identifying information contained on the W-2. Verify that your name is spelled correctly, the mailing address is your current address and that your Social Security number is correct.
Compare the wages earned box to your total gross wages from the last paystub that you received in the tax year. Paystubs have year-to-date information printed on them. Find the gross wages column and look at the figure. The figure should match what is printed on the W-2 as gross wages.
Look at the amount of tax withholdings printed on the W-2 and compare that with the year-to-date withholdings on your last paystub. The amount of year-to-date wthholdings for federal, state and local taxes that is printed on your last paystub should match what is printed on the W-2.
Compare the amount of deductions that were taken from your pay for Social Security and Medicare. Your paystub should have the year-to-date totals, and the figure should match what is printed on the W-2 in the Social Security and Medicare boxes.