ThomasM125
Expert Alumni

Get your taxes done using TurboTax

The box 1 and box 2 entries, which report your income and tax withheld, are probably the only entries that will impact your tax return. If the income is correct then you will be OK to report the W-2 as it is stated. If the company actually paid in the withholding amount as reported, then you will get credit for it when the tax return is processed. If the company corrects the W-2 later on or reported a wrong withholding amount, then you may get a letter from the IRS requesting you pay some of the withholding back sometime in the future.

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