Clean effect in the Form W2

Aug 6th, 2022
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How to clean effect in the Form W2

5 out of 5
19 votes

the first form Im going to introduce you to youve seen it a million times if youre an employee is the w-2 and at the end of the year when the year closes your employer is ing to law supposed to get you your w-2 in January so you can create a tax return or you can take it to one of the various places that does tax returns and so you take your w-2 in and hand it to them so if you are going to a tax guy and you and your spouse or youre just getting your own return done hell theyll say do you have your w-2 now the w-2 is very interesting because it is a summary of what you did all year and with your employee your employer so if you look at the form in Section B it says employer identification number thats called an EIN employer identification number and thats the number that your employer uses to identify himself with the government so even though theyre going to put employers name and address when the government puts this in they are going to get at the employer name address and

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The W-2 box 12 codes are: A Uncollected Social Security tax or Railroad Retirement Tax Act (RRTA) tax on tips. B Uncollected Medicare tax on tips. C Taxable costs of group-term life insurance over $50,000 (included in W-2 boxes 1,3 (up to Social Security wages base), and box 5); Taxable costs are information only.
Box 12 amounts with the code DD signify the total cost of what you and your employer paid for your employer-sponsored health coverage plan.
Items entered in box 14 must be labelled with a code that provides a brief description of the item. There are no standardized codes for box-14 because the federal government doesnt provide standardized codes for box 14 items, so employers can assign their own code that adequately describes the reported item.
How to fill out Form W-2 W-2 Box A: Employees Social Security number. W-2 Box B: Employer Identification Number (EIN) W-2 Box C: Employers name, address, and ZIP code. W-2 Box D: W-2 Boxes E and F: Employees name, address, and ZIP code. W-2 Box 1: Wages, tips, other compensation. W-2 Box 2: Federal income tax withheld.

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