W2 Notice And Instructions

Transcript

1 BB Note. EE If a year follows code D through H, S, Y, AA, , , you or Instructions for Employee (Also see Notice up pension contribution for a prior year(s) when you - made a make .) 2 on page to Employee were . To figure whether you made excess in military service consider these amounts for the year shown, not the deferrals, Box 1. Enter this amount on the wages line of your tax return. current year. If no year is shown, the contributions are for the Box 2. Enter this amount on the federal income tax withheld year. current line of your tax return. Uncollected social security or RRTA tax on tips. Include this A — this amount on Form 8959, You may be required to report Box 5. tax on Form 10 40. See “ Other Tax es ” in the Form 1040 instructions. Addi tional M edicare Tax. See Form 1040 instructions to determine if you are required to complete Form 8959. B — Uncollected Medicare tax on tips. Include this tax on Form ” in the Form 1040 instructions. Other es 1040. See “ Tax This amount includes the 1.45% Medicare Tax withheld on Box 6. Taxable cost of group C — - term life insurance over $50,000 e 0.9% ox 5, as well as th b all Medicare wages and tips shown in to social security wage base), and 5) (included in boxes 1, 3 (up Additional Medicare Tax on any of those Medicare wages and tips above $200,000. — D Elective deferrals to a section 401(k) cash or deferred . a Also includes deferrals under a SIMPLE retirement rrangement mount is not included in boxes 1, 3, 5, or 7. For This a Box 8. account that is part of a section 401(k) arrangement. i on how to report tips on your tax return, see your rmation nfo E Elective deferrals under a section 403 — (b) salary reduction Form 1040 inst . ructions a greement You must file Form 4137, Social Security and Medicare Tax on Elective deferrals under a section 408(k)(6) — F salary Unreported Tip Income, with your income tax return to report at reduction SEP least the allocated tip amount unless can prove that you you Elective deferrals and employer contributions (including — G received a smaller amount. If you have records that show the nonelective deferrals) to a section 457(b) deferred eceived, report that amount even if it is actual amount of tips you r compensation plan more or less than the allocated tips. On Form 4137 you will exempt - section 501(c)(18)(D) tax Elective deferrals to a — H the social security and Medicare tax owed on the calculate organization plan. See “Adjusted Gross Income” in the Form allocated tips shown on your Forms(s) W 2 that you must report as - 1040 instructions for how to deduct. income and on other tips you did not report to your employer. By filing Form 4137, your social security tips will be credited to your J — Nontaxable sick pay (information only, not included in social security record (used to figure your benefits). boxes 1, 3, or 5) — K 20% excise tax on excess golden parachute payme nts. Box 10. This amount includes the total dependent care benefits See “ Other Tax es ” in the Form 1040 instructions. that your employer paid to you or incurred on your behalf (including amounts from a section 125 (cafeteria) plan). Any amount over L Substantiated employee business expense — $5,000 is also included in box 1. Complete Form 2441, Child and reimbursements (nontaxable) Dependent Care Expenses, to compute any taxable and Uncollected social security or RRTA tax on taxable cost M — nontaxable amounts. of group - term life insurance over $50,000 (former employees ” in the Form 1040 instructions. es Other only). See “ Tax t is (a) reported in box 1 if it is a distribution This amoun Box 11. term N — Uncollected Medicare tax on taxable cost of group - made to you from a nonqualified deferred compensation or life insurance over $50,000 (former employees only). See nongovernmental section 457(b) plan or (b) included in box 3 ” in the Form 1040 instructions. “ Other Tax es and/or 5 if it is a prior year deferral under a nonqualified or section 457(b) plan tha t became taxable for social security and Excludable moving expense reimbursements paid — P Medicare taxes this year because there is no longer a dir ectly to employee (not included in boxes 1, 3, or 5) substantial risk of forfeiture of your right to the deferred — Q Nontaxable combat pay. See the instructions for Form This box should not be used if you had a deferral and a amount. 1040 or Form 1040A for details on reporting this amount. ear. If you made a deferral & distribution in the same calendar y — R Employer contributions to your Archer MSA. Report on a distribution in same calendar year, received and you are or will be Form 8853, Archer MSAs and Long - T erm Care Insurance age 62 by the end of the calendar year, your employer should file Contracts. rm SSA - wi , Employer Report of Special Wage Payments, 131 th o F Employee salary reduction contributions under a section — S tion and give you a copy. the Social Security Administra plan 408(p) SIMPLE (not included in box 1) Box 12. The following list explains the codes shown in omplete Form 8839, T — Adoption benefits (not included in box 1). C box 12. You may need this information to complete your tax compute any taxable and Adoption Expenses, to Qualified return. Elective deferrals (codes D, E, F, and S) and designated nontaxable amounts. Roth contributions (codes AA BB , and EE l plans are ) under al , Income from exercise of nonstatutory stock option(s) — V 8 , generally limited to a total of $1 00 if you only have 5 , 2 00 ($1 0 (included in boxes 1, 3 (up to social security wage base), 2 SIMPLE plans; $ 00 for section 403(b) plans if you qualify for 0 , 1 . See Pub. 525, Taxable and Nontaxable Income, for and 5) code G are the 15 - year rule explained in Pub. 571). Deferrals under . reporting requirements limited to $1 re limited to $7,000. 00. Deferrals under code H a 0 , 8 (including am W ounts the employee — Employer contributions However, if 201 7 , your employer you were at least age 50 in ) elected to contribute using a section 125 (cafeteria plan) to your may have allowed an additional deferral of up to $ 6 , 0 00 0 , 3 00 ($ s Report on Form 8889, Health Savings ccount. a h ealth avings for section 401(k)(11) and 408(p) SIMPLE plans). This additional Accounts (HSAs). all limit on elective deferral amount is not subject to the over Y — Deferrals under a section 409A nonqualified deferred higher deferrals. For code G, the limit on elective deferrals may be . compensation plan Contact your for the last 3 years before you reach retirement age. in excess of the plan administrator for more information. Amounts in income. See the must be included overall elective deferral limit for Form 1040. “Wages, Salaries, Tips, etc.” line instructions 1

2 — a nonqualified deferred Z Income und er This amount is compensation plan that fails to satisfy section 409A. Notice to Employee is subject to an additional 20% tax plus also included in box 1. It interest. See “ Other Tax es ” in the Form 1040 instructions. under a section 401(k) Designated Roth contributions — AA i Do you have to file? nst ruction s Refer to the Form 1040 to plan if you determine if you are required to file a tax return. Even Designated Roth contributions under a section 403(b) — BB do not have to file a tax return, you may be eligible for a plan an amount or if you are eligible for any refund if box 2 shows DD Cost of employer — - sponsored health coverage. credit . The amount reported with Code DD is not taxable. EE Designated Roth contributions under a governmental section — Earned income credit (EIC). be able to take th e You may plan. This amount does not apply to contributions under a 457(b) EIC for if you r adjusted gross income (AGI) is less than 7 201 - exempt organization section 457(b) plan. tax a certain amount. The amount of the credit is based on Per — FF mitted benefits under a qualified small employer health income and family size. Workers without children could reimbursement arrangement qualifying child qualify for a smaller credit. You and any ren Box 1 3. If the “Retirement plan” box is checked, special limits may s mus ocial security numbers (SSNs). You cannot t have valid apply to the amount of traditional IRA contributions you may your investment income is more than the take the EIC if A , Contributions to Individual Retirement See Pub. 59 0 deduct. - or if income is earned for services specified amount for 201 7 Arrangements (IRS’s). provided while you were n inmate at a penal institution. For a Box 14. Employers may use this box to report information such as , income limits and more infor mation 201 visit 7 state disability insurance taxes withheld, union dues, uniform . Also see Pub. 596, Earned Income Credit. www.irs.gov/eitc payments, health insurance premiums deducted, nontaxable is more than your tax liability is refunded to Any EIC that me, educational assistance payments inco , or a member of the you, but only if you file a tax return. clergy’s parsonage allowance and utilities. Railroad employers use compensation, Tier ) railroad retirement ( this box to report RRTA 1 2 tax, Tier ude Incl tax, Medicare tax and Additional Medicare Tax. If you are not subject to Clergy and religious workers. tips reported by the employee to the employer in railroad retirement social security and Medic are taxes, see Pub. 517, (RRTA) compensation. Social Security and Other Information for Members of the Clergy and Religious Workers. Keep Note. Copy C of Form W - 2 for at least 3 years after Corrections. If your name, SSN, or address is incorrect, the due date for filing your income tax return. However, to correct and ask your employer to correct Copies B, C, and 2 protect your social security benefits, help keep Copy C your employment record. sure to ask the employer Be until you begin receiving social security benefits, just in case there is a question about your work record and/or earnings to file Form W - 2c, Corrected Wage and Tax Statement, with in a particular year. the Social Security Administration (SSA) to correct any name, SSN, or money amount error reported to the SSA on - 2. Form W 2c from - Be sure to get your copies of Form W employer for all corrections made so you may file them your with your tax return. If your name and SSN are correct but as shown on your social security card, you are not the same new card that displays your correct name at should ask for a any SSA office You also may 1213. - 772 - 800 - calling 1 or by visit the SSA at www.socialsecurity.gov . f employer sponsored health coverage (if such - Cost o co st is provided by the employer ) . The reporting in ox b 12, using Code DD, of the cost of employer - sponsored health covera ge is for your information only. The amount . e bl a x a reported with Code DD is not t Credit for excess taxes. If you had more than one 201 employer in in social security 7 and more than $ 7 , 886.40 and/or Tier 1 railroad retirement (RRTA) taxes were withheld, yo u may be able to claim a credit for the excess against your federal income tax. If you had more than one railroad RRTA employer and more than $ 4 , 630 . 5 0 in Tier 2 tax was withheld, you also may be able to claim a credit. See . 505, your Form 1040 or Form 1040A ins tructions and Pub Tax Withholding and Estimated Tax. 2

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