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Katie C Norris from C Norris wealth management explains the importance of understanding and reading Form W2. This form is issued by an employer to an employee if at least $600 in cash and cash equivalents were paid, including taxes withheld for Social Security and Medicare. The form includes key items such as the employee's social security number, the employer's identification number, current address, and a control number. It is essential to verify the accuracy of the information on the form.