Tax forms guide
W-2 vs pay stub
A pay stub shows one pay period and your year-to-date totals. A Form W-2 is the yearly wage and tax statement your employer gives you after the year ends. They are not the same document, one does not replace the other, and their totals often differ.
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Pay stub vs W-2 at a glance
| Topic | Pay stub | Form W-2 |
|---|---|---|
| What it covers | One pay period, with year-to-date totals so far | The whole calendar year |
| Full name | Pay stub, also called a paycheck stub or earnings statement | Form W-2, Wage and Tax Statement |
| Who makes it | The employer, each payday | The employer, once for the year |
| When you get it | With each paycheck | For tax year 2026, employee copies are due by February 1, 2027 |
| What the wage figure means | Gross pay for the period and year to date | Wages, tips, other compensation (Box 1): taxable pay, which leaves out elective deferrals such as 401(k) contributions |
Why your W-2 doesn’t match your last pay stub
Wages, tips, other compensation (Box 1) on Form W-2 is not the same figure as gross pay. The IRS instructions say it shows total taxable wages, tips and other compensation, and does not include elective deferrals, such as employee contributions to a 401(k) plan. A pay stub’s gross pay usually does include them, so the W-2 wages figure (Box 1) can be lower than the year-to-date gross pay on your last pay stub of the year.
Social security wages (Box 3) and Medicare wages (Box 5) follow their own rules. Elective deferrals are left out of wages (Box 1) but reported in social security wages (Box 3) and Medicare wages (Box 5), so those two figures can be higher. Federal income tax withheld (Box 2) is a separate figure.
If the figures are far apart and you cannot see why, ask your employer’s payroll contact. The W-2 your employer issues is the record for the year.
The IRS explains each box in the General Instructions for Forms W-2 and W-3.
Pay stubs and W-2s on PayStubGo
PayStubGo makes pay stubs with the pay stub generator. A pay stub made there is a record of one pay period; it is not a Form W-2. For the form you file as an individual, see Form 1040 explained.