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The financial world has its own vocabulary. To help you speak the language, here are the most commonly used terms and acronyms.  If there are financial or retirement terms not in our glossary?  Click on Contact at the bottom of this page let us know what you need defined. We'll email you the definition and include it in our next update.
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W-2 Form - The form that an employer must send to an employee and the IRS at the end of the year. The W-2 form reports an employee's annual wages and the amount of taxes withheld from his or her paycheck.
A W-4 is a form that individuals complete for withholding purposes, whereas a W-2 form is for employers to fill out.

W-4 Form - A form completed by an employee to indicate his or her tax situation (exemptions, status, etc.) to the employer. The W-4 form tells the employer the correct amount of tax to withhold from an employee's paycheck.
Remember that you can file a new W-4 anytime your situation changes. A change in status can result in more or less tax being withheld.

Warrants - Certificates giving the holder the right to purchase securities at a stipulated price within a specified time limit or perpetually. Sometimes a warrant is offered with securities as an inducement to buy. 

Waiver of Premium - If a policy contains this provision, premiums don't have to be paid while an insured person is incapacitated.

Will - A written document through which a person disposes of property after death.

Windfall Tax - A tax levied by governments against certain industries when economic conditions allow those industries to experience above-average profits. Windfall taxes are primarily levied on the companies in the targeted industry that have benefited the most from the economic windfall, most often commodity-based businesses.

Withholding Tax - 1.  Income tax withheld from employees' wages and paid directly to the government by the employer.  2. A tax levied on income (interest and dividends) from securities owned by a non-resident.

When issued - A short form of "when, as and if issued." The term indicates a conditional transaction in a security authorized for issuance but not as yet actually issued. All "when issued" transactions are on an "if" basis, to be settled if and when the actual security is issued and the exchange or National Association of Securities Dealers rules the transactions are to be settled.

Whole Life Insurance - Policies that build a cash value and cover a person for as long as he or she lives if premiums continue to be paid.

Working control - Theoretically, ownership of 51% of a company's voting stock is necessary to exercise control. In practice - and this is particularly true in the case of a large corporation - effective control sometimes can be exerted through ownership, individually or by a group acting in concert, of less than 50%.