Home/Glossary/W-2 PreparationUpdated on: April 19, 2024

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What is W-2 Preparation?

Form W-2 (officially, the "Wage and Tax Statement") is an Internal Revenue Service (IRS) tax form used in the United States to report wages paid to employees and the taxes withheld from them. Employers must complete a Form W-2 for each employee to whom they pay a salary, wage, or other compensation as part of the employment relationship. An employer must mail out the Form W-2 to employees on or before January 31. This deadline gives these taxpayers about 2 months to prepare their returns before the April 15 income tax due date. The form is also used to report FICA taxes to the Social Security Administration.

Software with W-2 Preparation

PRODUCT NAME SW SCORE (OUT OF 100) AGGREGATED RATINGS (OUT OF 5)
Paycom 98 4.4
Gusto 97 4.4
OnPay 94 4.8
Remote.com 93 4.7
Zenefits 93 4
Paychex Flex 92 4.1
greytHR 92 4.6
Justworks 91 4.7
QuickBooks Payroll 91 4
Deel 89 4.9

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