Which statement is false? The Wage and Tax Statement (Form W-2) is prepared with each paycheck. The Wage and Tax Statement (Form W-2) totals the employee's earnings and tax withholding for the year. A copy of the Wage and Tax Statement (Form W-2) is forwarded to the federal government to be reconciled with the quarterly Form 941 filings The Wage and Tax Statement (Form W-2) is used by the employee to complete his or her personal income tax return