Forms W-2, Form 1042-S, and Income Tax Withholding When You Are Employed

Last updated: January 31, 2007

(For Tax Year 2006)

The W-2 form is also known as a Wage and Tax Statement. If you are employed in the U.S. for any period of time during 2006, each employer for whom you worked is required to report your earnings to both you and the Internal Revenue Service (IRS). By law, W-2s must be mailed no later than January 31. If you worked during 2006, whether off campus or on-campus at Rensselaer Polytechnic Institute or at a previous school and have not received your form W-2 by February 1, contact your former employer right away. It's possible that they do not have your address. You will be required to include a copy of each W-2 from with your federal and state income tax forms. The IRS computer system will match the income with what they have received from the employer.

Different kinds of taxes are withheld by employers. The W-2 form has boxes for reporting withholding of Federal Income Tax (box 2), Social Security Tax (box 4), Medicare Tax (box 6), State Income Tax (box 18) and local income tax (box 21). Some individuals who received form W-2 will find that all of these boxes have amounts in them, others will find only some or none of the boxes showing tax withheld.

Form 1042-S is used to report income paid to a non-resident regardless of whether the payment is taxable. The form has a number of purposes. It can be used to report wages exempt under a tax treaty, wages earned as an independent contractor, royalties, and scholarship or fellowship grants. By law, 1042-S forms must be issued by March 15. Many international students receive both form 1042-S and form W-2; some students will receive only form W-2.

International Student and Scholar Services staff are neither qualified nor permitted to give individual tax advice. Tax information is available only at tax seminars.