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Gross Pay
Deductions
Net Pay
Paycheck
Amount of money earned before deductions
Amount of money you take home after deductions
Money withheld by your employer
W-2
W-4
The form that an employer must send to an employee and the IRS at the end of the year. The form reports an employee's annual wages and the amount of taxes withheld from his or her paycheck.
A form completed by a new emplyee. The W-4 form tells the employer the correct amount of tax to withhold from an employee's paycheck.
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