Social security statement

Social security statement

The earnings and benefits verification statement sent by the Social Security Administration annually to employees over age 24 in the U.S. who are not currently receiving social security benefits.

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Part of Speech: noun
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Industry/Domain: Accounting
Category: Payroll
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social security statement

Accounting; Payroll

The earnings and benefits verification statement sent by the Social Security Administration annually to employees over age 24 in the U.S. who are not currently receiving social ...

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Social Security Administration’s system of recording wages reported annually by employers on Form W-2.

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social security number or employer identification number, which serves as the taxpayer’s account number with the IRS.

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Subtracting amounts from an employee’s wages for taxes, garnishments or levies, and other deductions (e.g., medical insurance premiums, union dues). These amounts are then paid ...

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