The W-2 process in the payroll system allows you to generate, review, edit, and export employee W-2 forms for year-end tax reporting. This ensures compliance with IRS regulations and provides employees with accurate wage and tax statements.
When to Use It
- Year-End Tax Reporting: To prepare and finalize W-2 forms for all employees.
- Employee Distribution: To provide employees with their W-2 forms for personal tax filing.
- Audit Preparation: To verify W-2 data for internal or external audits.
Who Uses the W-2 Process, How Often, and Why
