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Gross Pay
Net Pay
Deductions
Paycheck
Amount of money earned before deductions.
Amount of money you take home after deductions.
Amount of money withheld by your employer.
Gross Pay
W-2
W-4
Amount of money earned before deductions.
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.
The form completed by a new employee. The W-4 form tells the employer the correct amount of tax to withhold from an employee's paycheck.
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