Common use of Forms W-2 Clause in Contracts

Forms W-2. Buyer and Seller agree to cooperate and to take all actions reasonably necessary to permit reliance by Seller, with respect to Transferred Individuals, on the "alternate procedure" provided under Internal Revenue Service Revenue Procedure 96-60, and to relieve Seller from the requirement of furnishing Forms W-2 to any such Transferred Individuals for the calendar year within which occurs the Closing Date. Without limiting the foregoing, Seller agrees timely to provide Buyer with all information necessary for Buyer to include on the Forms W-2 it furnishes to Transferred Individuals for such calendar year the wages paid and taxes withheld by Seller with respect to such Individuals during such calendar year.