Video: Guide to the W-2 Tax Form - Wages and Tax Statement
The W-2 form you receive from your employer each year is fairly straightforward but there are some things about the form you may be interested to know. Watch this video to learn more about the key information on Form W-2.
The One Big Beautiful Bill that passed includes permanently extending tax cuts from the Tax Cuts and Jobs Act, including increasing the cap on the amount of state and local or sales tax and property tax (SALT) that you can deduct, makes cuts to energy credits passed under the Inflation Reduction Act, makes changes to taxes on tips and overtime for certain workers, reforms Medicaid, increases the Debt ceiling, and reforms Pell Grants and student loans. Updates to this article are in process. Check our One Big Beautiful Bill article for more information.
Video transcript:
Your W-2 isn't just a form, it's the key to understanding your taxes. This edition of Tax Tips by TurboTax breaks it down for you.With TurboTax Live Full Service, a local expert matched to your unique situation will do your taxes for you start to finish. Or get unlimited help and advice from tax experts while you do your taxes with TurboTax Live Assisted.
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