This is an income reporting form which is required to be issued by employers and payers to report your income and taxes withheld if any, to you and the Internal Revenue Service (IRS). The IRS uses this information to compare against your tax return to assure that you are reporting your income on your return.
Form W-2 is used to report taxable wages and taxes withheld of U.S. citizens, resident aliens, and nonresident aliens. It also includes Medicare wages and taxes which are used by the Social Security Administration for determining future Medicare benefits.
The W-2 is made available by January 31 of each year. It is necessary to opt in via Workday to receive this form electronically.