W-2
Abbreviation with 2 meanings
| Stands for | Wage and Tax Statement (IRS Form W-2) |
|---|---|
| Meanings | 2 |
| Categories | Business & Finance, Military |
W-2 has two meanings. It stands for Wage and Tax Statement (IRS Form W-2) (tax) or Warrant officer pay grade 2 (military pay grade).
Meanings of W-2 at a glance
| # | W-2 stands for | Context |
|---|---|---|
| 1 | Wage and Tax Statement (IRS Form W-2) | Business & Finance › Tax |
| 2 | Warrant officer pay grade 2 | Military › Military Pay Grade |
1. Wage and Tax Statement (IRS Form W-2)
Business & Finance · Tax Abbreviations
Annual statement an employer must give each employee, and file with the Social Security Administration, by January 31, showing the prior year's wages and the federal, state, Social Security and Medicare taxes withheld. Employees use it to prepare Form 1040, and Box 12 codes report items such as 401(k) deferrals and HSA contributions.
Example: My W-2 still hasn't arrived, and it's already the second week of February.
"W-2 employee" is everyday shorthand for a worker on payroll, as opposed to a "1099" independent contractor who has no tax withheld. Copy A goes to the SSA with a Form W-3 transmittal, Copies B and C to the employee, and Copy D stays with the employer; mistakes are fixed with a Form W-2c. Former employees should receive theirs at their last known address. If one never arrives, the IRS can help from the end of February.
2. Warrant officer pay grade 2
Military · Military Pay Grade Abbreviations
Second warrant pay grade, held by Chief Warrant Officers 2 (Army CW2, Navy, Marine Corps and Coast Guard CWO2). Promotion or appointment to W-2 converts a warrant into a commission, making the holder a commissioned warrant officer.
Example: The Navy appointed the senior chief as a W-2 chief warrant officer in the electronics field.
Commissioned warrant officers rank above all enlisted members but below second lieutenants and ensigns. In the Navy and Coast Guard most warrant officers are selected from chief petty officers with long technical careers, so they often enter at W-2 with many years of total service.
Related abbreviations
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