Which form is used to report wage and tax information to the IRS?

The W-2 form is utilized specifically to report wage and tax information for each employee, detailing the earnings and withholdings for income tax, Social Security, and Medicare throughout the year. Employers are required to provide W-2 forms to their employees by the end of January each year and also submit copies to the IRS.

The 940 form is an annual Federal Unemployment Tax Return, which is not focused on wage reporting for employees but rather on the unemployment taxes an employer needs to pay. The 941 form is used for reporting income taxes, Social Security tax, and Medicare tax withheld from employee earnings on a quarterly basis. It provides a snapshot of payroll tax liabilities during the quarters rather than a comprehensive annual overview. The 945 form is for annual reporting of nonpayroll distributions, which include payments that are not considered wages and thus do not fall under the standard wage reporting requirements that the W-2 handles.

In summary, while each of these forms has its specific purpose, the W-2 is the designated form for reporting wage and tax information directly related to employees, aligning with the context of the question.