Why is the Form W-2 needed in order to file a tax return?

Answers

Answer 1

Answer:

The IRS requires employers to report wage and salary information for employees on Form W-2. Your W-2 also reports the amount of federal, state and other taxes withheld from your paycheck.

Helpful link:

https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-a-w-2-form/L6VJbqWl5#:~:text=The%20IRS%20requires%20employers%20to,when%20preparing%20your%20tax%20return.


Related Questions

At the parade yesterday, Kimi sold 24 pink lemonades and 16 iced teas from her food cart. She charged $1.75 more for pink lemonade than for iced tea, and her total sales were $90.
Select the system of equations that represents this situation. Let p represent the price of pink lemonade, and let t represent the price of iced tea..

Answers

Answer:

hi

Explanation:

hi

Kimi sold 24 pink lemonades and 16 iced teas from her food cart. She charged $1.75 more for pink lemonade than for iced tea, and her total sales were $90.The system of equations that represents this situation will be 90=24(t+1.75t)+16(t), where t= price of iced tea.

What is food?

A food is a substance that basically consists the essentials which are needed for survival of a living being like protein, carbohydrate, fat, and other nutrients.

The food or the nutrients is used by the body of an organism to sustain growth and for doing vital processes and to give energy to work. The absorption and utilization of food by the body is important for nutrition and is facilitated by digestion.

The autotrophs or green plants, which convert solar energy to food by the process of photosynthesis, are the main primary source of food for most of the living beings in the earth.

The food is ingested by an organism and assimilated by the organism's cells to provide energy, maintain life, or stimulate growth.

Learn more about food here:

https://brainly.com/question/14836263

#SPJ2

Tennessee Co. conducts business in the United States and Canada. The net cash flows from Canadian operations are expected to be C$500,000 next year. The Canadian dollar is valued at about $.90. The net cash flows from U.S. operations are expected to be $200,000. To reduce the sensitivity of its net cash flows without reducing its volume of business in Canada, Tennessee Co. could:

Answers

Answer: purchase Canadian supplies

Explanation:

A market might have an upward-sloping long-run supply curve if:

Answers

Answer:

a. firms have different costs.

Explanation:

A market might have an upward-sloping long-run supply curve if

a. firms have different costs.

b. consumers exercise market power over producers.

c. all factors of production are essentially available in unlimited supply.

d. the entry of new firms into the market has no effect on the cost structure of firms in the market.

The value of the existing venture plus the proceeds from the potential new equity issue is known as: Group of answer choices pre-money valuation post money valuation staged financing the capitalization rate

Answers

It is pre-money valuation

the ceo of what company stepped down this week, after having co-founded the business and led it from 2006-2008 and from 2015-2021?

Answers

The CEO of Twittter stepped down after having co founded the business and led it from 2015 to 2021.

The CEO of twittter is Jack Dorsey. He is an American. After he stepped down, the technological app was handed over to the Chief Technological officer as his replacement.

The reason why the co-founder decided to step down was due to his plans to focus on philanthropy and also to focus on crypto currency.

This came 15 years after the company was founded.

Read more on the first step in starting a company:

https://brainly.com/question/6598703?referrer=searchResults

Sandra deposits $3,000 at the end of each semiannual period for 12 years at 10% interest compounded semiannually. Determine the amount she will have in the account after 12 years. Round to the nearest cent. A. $133,506. 00 b. $140,181. 30 c. $121,291. 43 d. $70,568. 14.

Answers

The amount she will have in the account after 12 years is $9,675.30

Given information

PV = $3,000

N = 12

M = 2

I = 10%

Future value = PV* (1+i/m)^nm

Future value = $3,000 * (1 + 0.10/2)^2*12

Future value = $3,000 * 3.22509994371

Future value = $9,675.29983

Future value = $9,675.30

Hence, the amount she will have in the account after 12 years is $9,675.30

Read more about Future value:

brainly.com/question/989421

Answer: A 133,506.00

Explanation:

on January 1, Year 1, Pell Corp. purchased a machine having an estimated useful life of 10 years and no salvage. The machine was depreciated by the double declining balance method for both financial statement and income tax reporting. on January 1, Year 6, Pell changed to the straight-line method for financial statement reporting but not for income tax reporting. Accumulated depreciation at December 31, Year 5, was $560,000. If the straight-line method had been used, the accumulated depreciation at December 31, Year 5, would have been $420,000. Pell's enacted income tax rate for Year 6 and thereafter is 30%. The amount shown in the Year 6 income statement for the cumulative effect of changing to the straight-line method should be: ___________

a. $98,000 debit.
b. $98,000 credit.
c. $140,000 credit.
d. $0.

Answers

Correct Answer: D

Explanation:

Choice "d" is correct. A change in the method of depreciation is now considered to be both a change in method and a change in estimate. These changes should be accounted for as changes in estimate and handled prospectively. The new depreciation method should be used as of the beginning of the year of change and should start with the current book value of the underlying asset. No retroactive or retrospective calculations should be made, and no adjustment should be made to retained earnings.
And, certainly, the cumulative effect should not be reflected on the income statement any more. Choices "a", "b", and "c" are incorrect, per the above Explanation: .

The construction industry employs about ____ percent of the working people in the United States and Canada.

Answers

40% of working people in the United States as well as Canada

Choose Yes or No to tell if the number 104 will make each equation true.


17 × □ = 1,700

Choose...



6 × □ = 60,000

Choose...



30 × □ = 300,000

Choose...



205 × □ = 205,000

Answers

Answer:

❤I gotcha bro bro

Explanation:

1.No

2.No

3.No

4.No

Your question needs to be more informative and you need more tutoring on Math no offense just Advice

If you borrow $1500 with a compounding interest rate of 8% for 2 years, that compounds semi-annually. How much will you pay back in total at the end of 2 years

Answers

Answer:

1740

Explanation:

1500(1+[tex]\frac{8}{100}[/tex])^2

1500*([tex]\frac{27}{25}[/tex])^2

= 1749.6

If you were reading sales literature about a mutual fund that claimed its objective is to be a single source investment for most equity investors, it would most likely be describing

Answers

Since the literature claimed that the objective of the mutual fund is to be a single source investment for most equity investors, then, it would most likely be describing a short-term investment

Basically, the mutual fund is classified as a short-term investment because of its duration.

Since the literature claims mutual fund is a single source investment for most equity investors, it hows that it is a short-term investment because the fund are usually purchased for less than say 3 years.

In conclusion, the literature would most likely be describing the mutual-fund as a short-term investment

Read more about mutual fund

brainly.com/question/4340765

On November 2, Kasdan Company has cash sales of $6,000 from merchandise having a cost of $3,600. The entries to record the day's cash sales will include:

Answers

Answer:

$3,600 credit to Inventory. (C)

Explanation:

please mark me brainliest!!

Not Answered Question Workspace A family on a trip budgets $800 for meals and hotel accommodations. Suppose the price of a meal is $40. In addition, suppose the family could afford a total of eight nights in a hotel if they don't buy any meals. How many meals could the family afford if they gave up two nights in the hotel

Answers

Based on the amount budgeted and the costs of meals and the hotel, if the family gave up two nights, they could afford 4 meals.

The family can afford 8 nights at the hotel if they gave up meals. This means that the cost of a night at the hotel is:

= Total cost / Nights at hotel

= 800 / 8

= $100 per night

If the family gave up two nights, they would have $200 to spend on meals which means they will afford:

= 200 / 40 per meal

= 5 meals

In conclusion, the family would afford 5 meals.

Find out more at https://brainly.com/question/25487588.

What does the phrase "like animals escaped from their caves" imply about the sun's impact on the children?

Answers

the sun being out causes children to come outside and “escape from their homes” to enjoy the sun. without the sun (rain or cloudy weather), children will most likely stay inside

_ entail(s) the tendency of customers to do nothing or remain locked in on decisions or behaviors they have already made or are living out.In a marketing context, _______________ entail(s) the tendency of customers to do nothing or remain locked in on decisions or behaviors they have already made or are living out.

Answers

There are different aspect to marketing. In a marketing context, Inertia entail(s) the tendency of customers to do nothing or remain locked in on decisions or behaviors they have already made or are living out.

Inertia is simply known as a term that often shows the ability of a physical object to not want change and therefore resist it as much as possible.

In marketing, it is known to be a word used to show when businesses do not work or change their marketing strategies so as to meet growing consumer demands etc.

Learn more about Inertia from

https://brainly.com/question/19485154

how do you wheeze?becasue im lost

Answers

Answer:

breathe out, but try to restrict some of the air passage.

Explanation:

i think plz mark me brainliest

The stock in Bowie Enterprises has a beta of .91. The expected return on the market is 12.10 percent and the risk-free rate is 2.97 percent. What is the required return on the company's stock

Answers

Answer:

3 . 9 %

Explanation:

Damages that involve only a very small monetary award are called liquidated damages. a. True b. False

Answers

Answer:

b. false.

Explanation:

because it is presented in certain legal contracts as an estimate of otherwise intangible or hard-to-define losses to one of the parties. It is a provision that allows for the payment of a specified sum should one of the parties be in breach of contract.

under the omnibus crime control and safe streets act of 1968, what are employers allowed to do?

Answers

Answer:only monitor phone calls for compliance

Explanation:

HELP QUICK PLEASE!!!!! William is not generally a risk-taker, but he knows he may need to step out of his comfort zone to make enough money for retirement. Which investment option would best meet William’s needs?
a US savings bond
a savings account
a commodity
a certificate of deposit

Answers

The answer is a commodity

In every state, there is a government-subsidized university. This subsidy, in theory, would make it possible for tuition to be lower than it otherwise would have been. How might an economist employed by the government justify the subsidy

Answers

The economist employed by the government will justify the subsidy by saying it is expected to increase the productivity which is the basis for the long run aggregate supply curve.

Basically, a subsidies is a program which are provided for education to improve the skills of the individuals going to college.

Economically, the program is expected to increase the productivity which is is the basis for the long run aggregate supply curve.

Now, once the productivity is increased, the potential GDP is increased and thus, the long-run aggregate supply curve is shifted to the right which increases the current GDP as well.

In conclusion, the economist employed by the government will justify the subsidy by saying it is expected to increase the productivity which is the basis for the long run aggregate supply curve.

Read more about subsidy

brainly.com/question/6945210

what is represented by the distance between two vertical white gridlines on this graph?

Answers

The information which is represented by the distance between two (2) vertical white gridlines on the graph in the image attached is: a time span of 50 years.

A graph can be defined as the graphical representation of data (information) on both the horizontal and vertical lines, which are x-axis and y-axis respectively.

In this scenario, the x-coordinates is used to represent time in years ranging from 1500 to 2050.

On the other hand, the y-coordinates is used to represent the total population in billions.

From the graph, we can deduce that each point of the vertical white gridlines with respect to another represent a time span of 50 years.

For example:

[tex]Time\;span = 1950-1900[/tex]

Time span = 50 years.

Read more: https://brainly.com/question/25324951

Marion sells for the Whatisits Company of Whoville. An analysis of the performance of the company's 25 person sales force shows that the average sales rep works 250 days a year, makes four calls a day, obtains an order, averaging $15,000, every ten calls made. Marion worked 200 days last year during which she made a total of 700 calls which resulted in 50 orders totaling $1,500,000 in sales volume. What was Marion's average order size

Answers

Based on the information given  Marion's average order size is $30,000 per order.

Using this formula

Average order size=Total cost of order in sales volume/Total order

Where:

Total cost of order in sales volume=$1,500,000

Total order=50 orders

Let plug in the formula

Average order size=$1,500,000 / 50 Orders

Average order size=$30,000 per order

Inconclusion  Marion's average order size is $30,000 per order.

Learn more about average order size  here:https://brainly.com/question/7156691

current assets minus current liabilities is called

Answers

Answer:

working capital also called net working capital (NWC)

which is one advantage of private insurance offered by most employers

Answers

Advantages of an employer plan: Your employer often splits the cost of premiums with you. Your employer does all of the work choosing the plan options. Premium contributions from your employer are not subject to federal taxes, and your contributions can be made pre-tax, which lowers your taxable income.

Answer: A managed care plan that keeps costs low

Explanation:

I took the test

It costs a petroleum refinery $0. 39 to refine one gallon of gasoline, and $0. 39 to refine one gallon of natural gas. The refinery can sell gasoline for $2. 11 per gallon, and can sell natural gas for $1. 60 per gallon. Due to the refining process, the refinery must produce and sell twice as much natural gas as it does gasoline. If the refinery’s monthly overhead costs, not including production costs, are $180,000, how many gallons of natural gas will the refinery have sold when it breaks even each month? Round to the nearest whole gallon, if necessary. A. 86,957 b. 141,732 c. 148,760 d. 217,392.

Answers

The gallons of natural gas that the petroleum refinery must sell to break even each month is A. 86,957.

Data and Calculations:

Variable cost of refining gasoline per gallon = $0.39

Selling price of gasoline per gallon = $2.11

Contribution margin per gallon of gasoline = $1.72 ($2.11 - $0.39)

Variable cost of refining natural gas per gallon = $0.39

Selling price of natural gas per gallon = $1.60

Contribution margin per gallon of natural gas = $1.21 ($1.60 - $0.39)

Contribution margin per two gallons of natural gas = $2.42 since twice of natural gas must be produced.

Fixed costs = $180,000

Break-even point in units for gasoline = Fixed costs/Contribution margin per unit

= 43,478.26 ($180,000/$4.14)

Break-even point in units for natural gas = 86,957 (43,478.26 x 2) gallons.

At the break-even point, the Petroleum Refinery will not make any profit or loss for both gasoline and natural gas.

Thus, the gallons of natural gas that the petroleum refinery must sell to break even each month is A. 86,957.

Learn more: https://brainly.com/question/9212451

What type of business is basically a special type of licensing agreement?
O A. A partnership
B. A corporation
C. A limited liability company
D. A franchise

Answers

The type of business that is a special type of license agreement is a partnership, as there is a legal written agreement between two parties, that grants the right to use trademarks and patents.

A partnership is a business that is shared by two or more entities, where the parties share legal and financial responsibility through a legal agreement.

Partnerships are more effective for businesses operating in the same sector, for the partnership to be more aligned with the business and increase the companies' positioning in the market.

Therefore, in a partnership, the parties involved will specify through a license agreement the distribution of property, profits and losses, responsibilities and their commercial relationship.

The correct alternative is letter A.

Find out more about partnership here:

https://brainly.com/question/25012970

Answer: a franchise

Explanation:

Which information is found on a credit report?
CO
FE
O grade point average
O list of schools attended
o names of family members
o credit account history

Answers

The correct answer is credit account history! I hope this helps! Plz give brainliest!

Working capital can be defined as

A. Current assets less current liabilities

B.Capital introduced by the proprietor

C.The capital put to use by the business

D.Capital created by work done

Answers

Answer:

A. current assets less current liabilities

I think this is answer

Explanation:

hope it help you

Which of the following could result in higher living costs for the homeowner that the renter doesn’t have? a. Decreased property value b. Down payment c. Maintenance d. Monthly payment.

Answers

Maintenance could result in higher living costs for the homeowner that the renter doesn't have.

The homeowners are more beneficial as compared to renters because the homeowners own the house as the property or the assets or can be called as the possession.

Who are the renters?

The renter is the person who takes a room or part of the house at rent and pays for the area that is utilized by the individual.

The maintenance cost is the additional cost that is paid by the renter to the homeowner in order to keep the rooms and the house well maintained.

Therefore, the correct answer is C.

Learn more about the cost of living of the homeowner and the renter here:

https://brainly.com/question/8755901

Other Questions
due in 30mins. please help How do you express a gain of 4 yards in a football game as a rational number? OA 4.5 yards OB. 4 yards OC. yards OD. - yards OE-4 yardsPLEASE HELP How did the perception of the institution of slavery change in the American colonies?Group of answer choicesThroughout history people were often enslaved due to their faith, while in the colonies slaves could be freed if they converted to Christianity.Throughout history slaves remained in bondage for life, while in the colonies slaves had many opportunities to improve their status in society.Throughout history the color of a slaves skin was often insignificant, while in the colonies race determined slavery.Throughout history slaves were forbidden to marry a member of the owners family, while in the colonies slaves often married white Europeans. LI01:45:43Which statement best explains Kennedy's message inthis excerpt?Read the excerpt from John F Kennedy's inauguraladdressNow the trumpet summons us again not as a call tobear arms, though arms we need not as a call tobattle, though embattled we are but a call to bear theburden of a long twilight struggle, year in and year out"rejoicing in hope, patient in tribulation" a struggleagainst the common enemies of man tyranny,poverly disease and war itsellCan we forge against these enemies a grand andglobal alliance, North and South, East and West, thatcan assure a more fruitful life for all mankind? Will youjoin in that historic effort?In the long history of the world, only a few generationshave been granted the role of defending freedom in itshour of maximum danger I do not shrink from thisresponsibility welcome it I do not believe that anyAmerican citizens must be prepared for warThe United States is prepared to protect freedomThe United States is the greatest country in theworldAmerican citizens have a history of protectingdemocracySave and ExitNextSubmit Much like the Japanese during World War Americans are currently subjected to greater scrutiny and discrimination. A. African B. AsianC. NativeD. Muslim pada pendapat anda, bagaimanakah keadaan bandar impian anda? Berikan dua 1Fishing boats have decreased the number of herring in the sea. Explain why that could affect the number of offspring puffins can raise. 2 Which animals have a bigger food supply now there are fewer herrings? 3 Global warming is expected to reduce the biomass of phytoplankton in the oceans. What effect will that have on the rest of the food web? See pic below! Need help solving Strategic alliances are more likely to be long lasting-when Group of answer choices both partners are experienced with strategic alliances and routinely enter into collaborative agreements with firms in peripheral industries. the alliance involves partners based in countries with distinctly different cultures and consumer buying habits and preferences. each partner has considerable resource weaknesses in the marketplace. they involve collaboration with suppliers or distribution allies or when both parties conclude that continued collaboration is in their mutual interests. the alliance involves joining forces in R Which passages from The Dentist support the idea that the soldiers enjoyed their time at the Rocket Pocket? Select all that apply. The Dentist Rocket Pocket got its name from the fact that the enemy sometimes used the place to launch rocket attacks on the airfield at Chu Lai. Rocket Pocket got its name from the fact that the enemy sometimes used the place to launch rocket attacks on the airfield at Chu Lai. It was a quiet time. No casualties, no contact at all. It was a quiet time. No casualties, no contact at all. But for us it was like a two-week vacation. But for us it was like a two-week vacation. The AO lay along the South China Sea, where things had the feel of a resort, with white beaches and palm trees and friendly little villages. Segment addition and midpoints Since opening night, attendance at Play A has increased steadily, while attendance at Play B first rose and then fell. Equations modeling the daily attendance y at each play are shown below, where x is the number of days since opening night. On what day(s) was the attendance the same at both plays? What was the attendance?Play A: y=25x+136Play B: y=-x^2+44x+76 mary stated that 2.01 x 10 is less than 4.8 x 10 because 2.01 is less than 4.8. what was mary's mistake ? I'm horrible at scientific notation so some help would be nice. =] help please area geometry !! Which of the following hints was most helpful in deciding the method of characterization used?O A. what others say about the person.what the person saysO c.how the person looksODwhat the person does Hey guys please help me please and thank you Which of the following behaviors would best describe someone who is listening and paying attention? a) Leaning toward the speaker O b) Interrupting the speaker to share their opinion c) Avoiding eye contact d) Asking questions to make sure they understand what's being said GDP data (billions of dollars) Indirect business taxes $600 Depreciation 950 Change in business inventories 50 Compensation of employees 5,400 Corporate profits 700 Durable goods 600 Exports 100 Social Security taxes 360 Transfer payments 300 Fixed investment 950 Government spending 800 Imports 150 Net interest 500 Nondurable goods 2,000 Personal taxes 1,000 Rental income 200 Services 4,000 Using the expenditures approach, compute net exports (X-M). Which of the following is correct?a. $5,178 billion.b. $6,450 billion.c. $5,740 billion.d. $7,740 billion.e. $8,350 billion. what is the primary role of the correctional system? its security guard test question Exercise swer the following questions: Why is audit important in any organization? Give reasons.