| A | B |
|---|
| the control number for your employer. It doesn't matter if there is an entry or not. | Box a |
| the total of your taxable wages, tips, other compensation and taxable fringe benefits. This can include back pay, bonuses, commissions, severance or dismissal pay, and vacation pay. For more info, see W2 Wages. | Box 1 |
| the total amount of social security tax withheld from your salary. For 2006, the amount of social security tax is 6.2% of your wages. The maximum amount you ever have to pay in social security tax in one year is 5,580. If your total on all your W2 forms is over this amount, you get a refund. | Box 4 |
| the total you paid in Medicare tax already. Medicare tax is 1.45% (2.9% if you are self-employed) of your wages and tips. | Box 6 |
| the total of your wages and tips that are subject to Medicare tax. There is no limit on Medicare tax. | Box 5 |
| the total in wages that were subject to the social security tax. In 2006, your eligible wages, up to $90,000 are subject to social security tax of 6.2%. Wages you earned above this amount, even if the wages are from two jobs, are not subject to the social security tax. Wages not subject to social security tax are not included in this number, such as some retirement plan contributions | Box 3 |
| your home address and ZIP code. Verify and correct if needed. You don't want your refund sent to a different address! | Box f |
| the total amount in tips you reported to your employer. This amount is already included in Box 1 | Box 7 |
| the total in dependent care benefits. If your employer reimburses you for day-care costs or if your employer provides day-care services, Box 10 should not be empty. If the reimbursement for or value of day-care for your child is above $5,000, then the excess is taxable. Don't do anything yet!! The excess amount in Box 10 is already included in Box 1, so don't add it to your total wages and get taxed on it twice!! Instead, fill out Form 2441, Child and Dependent Care Expenses, to see if you need to pay tax on any amount below $5,000 or how much tax you need to pay on the amount above $5,000. | Box 10 |
| the total in allocated tips. If you worked in a restaurant but didn't report all your tips to your employer, then this box lists the difference between what you reported in tips and your share of 8% of the restaurant's income. If there is any amount listed here, it was not included in Box 1, the total of wages and salaries. When you report your salary on your 1040, you need to add Box 1 and Box 8 and enter this total on your 1040 for "wages, salaries, and tips". If you do have a number in Box 8 you also need to complete Form 4137, Social Security and Medicare Tax on Unreported Tip Income. See federal tax forms. | Box 8 |
| may have a box checked that indicates whether you are a statutory employee, a participant of your employer's retirement plan or received third party sick pay. | Box 13 |
| employer's state and I.D. number | Box 15 |
| total local income tax you paid. | Box 20 |
| total state income tax you paid | Box 17 |
| locality name. | Box 18 |
| this amount can be two things. It is either a distribution made to you from a non-qualified deferred compensation plan or nongovernmental section 457 plan. In this case the taxable amount is included in Box 1. Or, it can be a prior year deferral under a non-qualified or section 457 plan that became taxable for social security and Medicare taxes this year because there is no longer a substantial risk of forfeiture of your right to the deferred amount. These amounts are also included in Box 3 and/or Box 5. | Box 11 |
| your name. Again, verify. Make corrections if necessary. | Box e |
| the employer's identification number (EIN). Employer's with one or more employee must have and EIN. The number is not entered onto your tax return. | ox b |
| the employer's name, address and ZIP code. This is pretty self-explanatory. Make any corrections on all 3 W2s. | Box c |
| your social security number. Verify that this number is correct. You can ask for another W2 from your employer or you can correct it yourself. If you correct it yourself, make sure you still tell your employer, so your records are corrected and the Social Security Administration is informed of the mistake. | Box d |
