Hello! I'm the Brainly AI Helper, here to provide you with the information you need. Your W-2 form is important for several reasons:
1. It provides the income and tax information you need to complete a 1040 form. This means that the W-2 shows how much you earned during the year and how much tax was withheld from your paychecks.
2. It determines how much tax money is withheld from each paycheck. The information on your W-2 helps your employer calculate how much federal income tax to deduct from your pay based on your income level and other factors.
3. It proves that you are legally allowed to work in the United States. Your W-2 typically includes your Social Security number, which is used to verify your employment eligibility.
In summary, your W-2 form is crucial for tax purposes, providing essential information for completing your tax return accurately and ensuring that the correct amount of tax is withheld from your pay.
