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Law and Business
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1. What is the purpose of a W-2?
W-2 reports the amount of federal, state and other taxes withheld from employee’s paycheck
W-2 reports the amount of federal, state and other taxes withheld from subcontractor’s paycheck
W-2 reports state income tax only
It is used by the employer to withhold the proper amount of federal income tax from the employee’s paycheck
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