Final answer:
The W-4 form determines the amount of federal income tax to withhold, the W-2 form reports annual wages and taxes withheld, and the 1040 form is used to file income tax returns.
Step-by-step explanation:
The purpose of the W-4 tax form is to determine the amount of federal income tax that should be withheld from an employee's paycheck. This form is filled out by employees and it includes information such as their filing status, number of allowances, and any additional amount they want to withhold.
The purpose of the W-2 tax form is to report an employee's annual wages and the amount of taxes withheld from their paycheck by their employer. This form is sent to employees by their employer and is used to file their federal and state income tax returns. Lastly, the purpose of the 1040 tax form is to report an individual's income and calculate the amount of federal income tax they owe. This form is used by individuals to file their annual income tax return. It includes information such as income, deductions, credits, and tax payments.