Mastering Form W-2 Box 1: The Ultimate Breakdown for Employers

Form W-2 Box 1 might seem like just another field on a tax form, but don’t underestimate its significance. It’s the foundation of income tax reporting, summarizing an employee’s taxable wages. The IRS scrutinizes this field closely, and inaccuracies can lead to penalties, tax audits, and frustrated employees. For employers, getting Box 1 right is […]