Florida Building Contractor Business/Finance Practice Exam

What document must be furnished to employees alongside Form W-2?

1. Form W-4

2. Form 1099

3. Form I-9

4. None; it is a standalone document

The correct answer is: None; it is a standalone document

When an employer provides Form W-2 to employees, it serves as a summary of the employee's earnings and tax withholdings for the year. Form W-2 is considered a standalone document because it contains all the essential information regarding an employee's income, Social Security wages, Medicare wages, and applicable federal and state tax withholdings. There is no requirement to provide any additional forms, such as Form W-4, which is used for determining withholding allowances at the time of hire but is not necessary to accompany the W-2. Similarly, Form 1099 is utilized for independent contractors and self-employed individuals, and Form I-9 pertains to verifying employment eligibility and identity but does not relate directly to the W-2 form distribution. Therefore, the correct understanding is that the W-2 can be furnished independently without the need for additional documentation.