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W-2 box 12 Form: What You Should Know
Designated Roth contributions over tax-deferred plan · C: Uncollected social security or RITA tax on tips received from the employee under section 856(b). · D: Excessive contributions under a 401(k) plan. · FE: Excessive contributions under a Roth account. 2018 Unusual W-2 Instructions: What Do They Mean? — F.A.O. Aug 24, 2023 — What to consider when filling out the W-2 box 12 codes. If you are the owner of a business, you can use the following instructions. Also, see the W-2 instructions that come to you when you open the box 12 boxes. Box 12 (Payroll) Codes: Tips from Employees for Form W-2 Box 12 — Taxes. Description. Tips from employees. Amount. Tips to you. (Employee tips are not social security wages). When should you add these amounts to your wage statement? A. When you receive tips from employees. B. When the employer receives more than 3 times the employee's tip income. C. When the employee has been with you for at least 3 years. When should you report these amounts to the federal government? D. When the employer files a Form W-2. Box 12 — Employee tips. Description. Tips. Amount. Tips that are social security wages. Employees who are covered by a tip pool, whether the employer receives tips. When should you report these tips to the feds? A. When the employee received the tips from more than one employee on the same day that the tips were received. B. When the employer is a “pool employer” where tip income is shared among the employees. If you have to report wages more than once and these tips are from the same employee, add the tips from which you are withholding social security for wages purposes, whether the tips are social security wages. Box 12 — Tips from Employment of the Employer with Multiple Employers. Description. Tips received by one employer, which include tips from employment of the other employer. The employer must use Form W-2, Wage and Tax Statement, and report these tips on Form 1040. If tips were received by more than one employer, and you were required to furnish this information on Form W-2, include them on Form 1045.
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