What form is provided by an employer between January 1 and January 31, showing total wages, social security, and taxes withheld for the previous calendar year?

Prepare for the Pima JTED Business Operations Test. Enhance your skills with multiple-choice questions, detailed explanations, and insightful hints. Ace your exam with confidence!

The correct choice is the W-2 form, which is specifically designed for reporting an employee's annual wages and the amount of taxes withheld from their paychecks. Employers are required to provide this form to their employees by the end of January each year, reflecting the earnings and withholdings for the previous calendar year. This information is crucial for employees when preparing their income tax returns, as it helps them understand how much income they earned and what tax has already been paid on their behalf.

The W-4 form serves a different purpose; it is completed by employees to instruct their employer on the amount of federal income tax to withhold from their pay based on their personal circumstances. The 1099 form is used for independent contractors or other non-employee compensation and reports earnings to the IRS for taxpayers who are not considered employees. Schedule C is used by sole proprietors to report income from their business activities, but it does not summarize employee earnings or withholdings.

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