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In this way, the IRS uses Form W-2 as a way to track an employee's tax liability, and the form has come to be seen as a formal proof of income. The Social Security Administration, court proceedings, and applications for federal financial aid for college all use Form W-2 as proof of income.
Verification of Income and Employment (VOIE) is a process used by banks and mortgage lenders in the United States to review the employment history of a borrower, to determine the borrower's job stability and cross-reference income history with that stated on the Uniform Residential Loan Application (Form 1003).
Sometimes called a “budget letter” or proof of income letter, the benefit verification statement from Social Security is used for several different instances where proof of your status or...
Your Benefit Verification letter is available online when you need proof of Social Security benefits, Supplemental Security Income, or Medicare.
A company, employer, or party which has paid income (or, in a few cases, proceeds that may ultimately be determined not to be income) to a taxpayer is required to file the applicable information return directly with the IRS.
Your Social Security statement may go by other names, such as “budget letter,” “benefits letter,” “proof of income letter” or “proof of award letter.”
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