Explain the Difference Between Form W-2 and W-4 Including Why

question 24

Essay

Explain the difference between Form W-2 and W-4 including why each form is needed by employers to complete payroll activities.

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Definitions:

Promoters

Individuals or companies that initiate and take the responsibility for setting up a business or company.

Government

The organization, or the apparatus, through which a political unit exercises authority and performs functions and which is usually classified as parliamentary or presidential.

Public Corporation

A corporation that is created by government to help administer law.

Private Corporation

A corporation that is created by private persons and does not have government duties.