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Your paycheck stub serves as proof of income and government agencies, lenders and landlords often request them to verify your earnings.
Form W-2 (officially, the "Wage and Tax Statement") is an Internal Revenue Service (IRS) tax form used in the United States to report wages paid to employees and the taxes withheld from them. Employers must complete a Form W-2 for each employee to whom they pay a salary, wage, or other compensation as part of the employment relationship.
Paycheck. An example of a payslip from the John Lewis Partnership, showing gross salary, tax and National Insurance paid and yearly bonus entitlement, among other things. A paycheck, also spelled paycheque, pay check or pay cheque, is traditionally a paper document (a cheque) issued by an employer to pay an employee for services rendered.
“Make it a habit to review your pay stub at least once a month. It’s a good idea to check the spelling and accuracy of your name, address and Social Security number,” said Fox.
In order to calculate your withholding, take a look at your most recent pay stub. From your pay stub, you’ll need the following information: Wages or salary per pay period. Wages or...
The Current Tax Payment Act compelled employers to withhold federal income taxes from workers' paychecks and pay them directly to the government on the workers' behalf. At the time of the act, Social Security payments and a World War II Victory Tax were already being withheld. [1]
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