How to Answer: Can you describe the use of forms W2, W4, and 941?
Advice and answer examples written specifically for a Payroll Specialist job interview.
23. Can you describe the use of forms W2, W4, and 941?
How to Answer
The interviewer is looking for evidence that you understand the uses of these basic payroll forms. Provide a high-level overview of each of these forms. The way you answer this question will allow the interviewer to gauge your level of experience and knowledge in payroll. It will also show the interviewer your ability to explain an accounting-related term in a way that anyone can understand. Your response should be straightforward and to the point.
Written by Christine Pasqueretta
Entry Level Example
"I learned about each of these forms while completing my Payroll Compliance education. From my understanding a W2 form is an IRS mandated form that shows annual earnings, taxes withheld, tips, and more for each employee. An employee completes a W4, telling the employer the amount of taxes they would like withheld from their paycheck. A 941 form shows the employer's portion of federal income taxes, Medicare tax, and social security tax."
Written by Rachelle Enns on March 6th, 2021
Experienced Example
"W2 form is an IRS mandated form that employers must supply to each employee at the beginning of each calendar year which shows annual earnings, taxes withheld, tips, etc. This is the form employees utilize for their personal income taxes each year. A W4 is a form that employees complete to tell the employer the amount of taxes to withhold from their paycheck. The employee identifies their marital status as well as the number of exemptions they would like to claim. A 941 is a document related to the employer's quarterly federal tax payment. This form shows the employer's portion of federal income taxes, Medicare tax, and social security tax. I am well versed in each of these forms."
Written by Christine Pasqueretta