In general, if you have worked more than 40 hours in a pay week, and are not "exempt", you must be paid an overtime rate for all hours over 40. The Wage Theft Prevention Act (WTPA) took effect on April 9, 2011.The law requires employers to give written notice of wage rates to each new hire. Employers generally must withhold federal income tax from employees' wages. To figure out how much tax to withhold, use the employee's Form W-4. Complete a new Form W-4, Employee's Withholding Allowance Certificate, and submit it to your employer. Your W-2 Wage and Tax Statement itemizes your total annual wages and the amount of taxes withheld from your paycheck. The Fair Labor Standards Act (FLSA) establishes minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers. Your W-2 is a record of your earnings and tax withheld for the year. You use information found on your W-2 to file your federal, state, and local tax returns.