Actually, your W-2 form shows how much you earned during the year, how much taxes were withheld from your paycheck, and other deductions or benefits you may have received from your employer. It does not necessarily show how much you will get back as a tax refund. Your tax refund or amount owed will be calculated when you file your tax return with the IRS using the information from your W-2 and any other income or deductions you may have. Your tax refund amount will depend on various factors such as your total income, tax deductions, credits, and other financial circumstances.
