US Tax Terms | US Tax Terms in US: W2 /C2C /1099

 In this blog We will discuss about US Tax Terms in US W2 / C2C / 1099 and Taxation in United States. So read this blog.

Table of Contents

• What is US Tax Terms?
  • Types Of Tax Terms
    • Wage & Tax Statement (W2)
    • Corporation To Corporation Tax (C2C)
  • Taxation In United States
    • Final Conclusion

What is US Tax Terms?

US Tax Terms play a very significant role in the recruitment and staffing agencies. A recruiter must have knowledge about tax terms because via this he can nicely identify that in which Us Tax Terms the candidate would be able to work and pay taxes. In this article, we’ll talk about the US tax terms and more.

Types Of Tax Terms

The several tax terms are:

Wage & Tax Statement (W2)

1. Under this term, if N number of people are working under a firm then that employer would pay all the taxes of their employees to the IRS or Internal Revenue Service.
2. Under this, the firm would pay the Federal & State Unemployment Tax, Medicare tax and social Security taxes.

Corporation To Corporation Tax (C2C)

1. This is an agreement between two corporations or customers and under this taxation term, your corporation or company is authoritative for all the taxes.
2. This taxation term is great for contract jobs.
3. GC, TN, EAD, USC and H1B come under this employment.

Read More: https://hrpolice.org/us-tax-terms/