We will send you  Forms W-2 by 2nd Week of January 2011 for year 2010. We will send 3 Copies for the Social Security Administration, IRS, and state and local government for which taxes are withheld form your Paycheck. 

As your Employer, we send a Form W-2, which is used to report your wages each year and the taxes we withheld from your paycheck.

Please note that some sections are blank and may not be applicable to you and  some are just  for informational purposes.  If you do not understand your W-2 or Need Assistance, please call a Billing and Payroll Specialist 24X7 (800) 454-3936

Box a: Your Social Security Number. If the SS number has an is incorrect, please notify us immediately so we may update with appropriate Authoritoes.

 
Box b: Employer Identification Number. This is our employer's identification number with the IRS

Box c: Employer's Name, Address and Zip Code. This is the Legal Name of our Company, and Main Address.

Boxes e and f: Employee's Name and Address. Your full name and current address. 

Box 1: Wages, Tips and Other Compensation. The taxable amount of compensation we  paid you. This includes any bonuses or commissions as well as wages. The amount shown in this box is entered on the "wages" line of your tax return (Line 7 of Forms 1040 and 1040A, or line 1 of Form 1040EZ. 

Box 2: Federal Income Tax Withheld. The total amount of federal income tax we withheld from from your Paycheck. The amount shown in this box is entered on the "federal tax withheld from Forms W-2 and 1099" line of your tax return (Line 61 of Form 1040, line 38 of Form 1040A or line 7 of Form 1040EZ). 

Box 3: Social Security Wages. The amount of earnings we paid you that is subject to Social Security tax. This amount may be greater than the amount shown in Box 1 because some income that is subject to Social Security tax may not be subject to income tax. For Example, 401(k)

Box 4: Social Security Tax Withheld. The amount of Social Security tax withheld on your wages. Generally, this amount can not exceed $6,621.60. This amount should equal 6.2% of the amount shown in Box 3. If you worked for any other Employer, and the total withheld, exceeds $6,621.60, the excess is treated as a tax payment and will increase your refund or decrease your balance due.

Box 5: Medicare Wages and Tips. The total amount of earnings we paid you subject to Medicare tax. There is no limit on the amount of wages that may be subject to Medicare tax. 

Box 6: Medicare Tax Withheld. The amount of Medicare tax we withheld from your Paycheck. This amount should equal 1.45% of the amount shown in Box 5. 

Box 7: The amount of tips you received that you reported to your employer. Not Applicable to IT Consultants (As you don't receive Tips, If you did let us know LOL)

Box 8: Allocated Tips. . Not Applicable to IT Consultants

 
Box 9: Advance EIC Payment. The amount of the Earned Income Credit (EIC) we paid you in advance. There should be an amount in this box only if you requested the advance payment because you expected to qualify for the credit. If there is an amount in this box, you are required to file a return even if your income is below the filing requirement.

Box 10: Dependent Care Benefits. The amount of your wages used to pay for dependent care expenses under Flexible spending Accounts. This amount is not included in Box 1. You must file Form 2441 to determine whether any part of this amount is taxable. 

Box 11: Nonqualified Plans. The total amount of payments received from our nonqualified retirement plan. This amount is included in Box 1 and is taxable. 

Boxes 12a, 12b, 12c, 12d. These boxes are used for various reporting purposes. Following is a partial list of what some of the codes mean:  

• A — Social Security tax that your employer couldn't withhold because there wasn't enough tip income to cover the tax. This amount should be included in the total on line 60, Form 1040.
• B — Medicare tax that your employer couldn't withhold because there wasn't enough tip income to cover the tax. This amount should be included in the total on line 60, Form 1040.
• D — Pre-tax contributions to an employer's 401(k) plan. This amount isn't included in Box 1 and isn't taxable to you.*
• E — Pre-tax contributions to an employer's tax-sheltered annuity plan. This amount isn't included in Box 1 and isn't taxable to you.*
• F — Pre-tax contributions to an employer's salary reduction SEP. This amount isn't included in Box 1 and isn't taxable to you.*
• G — Pre-tax contributions to an employer's section 457 retirement plan. This amount isn't included in Box 1 and isn't taxable to you.
• J — Amount of sick pay not taxable because the employee contributed to the plan.
• L — Amount of business expense reimbursement paid based on a per diem or per mile basis. You can't deduct this amount. Any amounts in excess of the federal per diem will be included in Box 1 and is taxable to you. If you're deducting expenses in excess of this amount, complete Form 2106.
• P — Amount of moving expense reimbursement paid to the employee. This amount is neither taxable nor deductible.
• Q — Amount of nontaxable military combat pay. You can treat this amount as earned income for purposes of the Earned Income Credit, the Additional Child Tax Credit, and for purposes of making an IRA contribution.
• S — Pre-tax contributions to an employer's SIMPLE plan. This amount isn't included in Box 1 and isn't taxable to you.  

Box 13: Statutory Employee, Retirement Plan, Third Party Sick Pay. One of the boxes will be checked if it applies to you.  

• Statutory employee — If you're a statutory employee, your W-2 should have Social Security and Medicare tax withheld, but no federal or state taxes withheld.
• Retirement plan — If you're considered to be participating in a qualified employer retirement plan, whether you contribute to it or not, this box will be checked. If this box is checked, your deductible IRA contributions may be limited.
• Third-party sick pay — If you received any payments for sick pay from a third-party provider, this box will be checked. Any amounts paid due to premiums paid by your employer will be taxable to you. Amounts paid from your own contributions won't be taxable.  

Box 14: Other. Not Applicable 

Box 15: State. The postal abbreviation indicating the state for which taxes were withheld and the employer's state identification number. 

Box 16: State Wages, Tips, etc. The amount of your wages subject to state tax. This amount may differ from the amount shown in Box 1. 

Box 17: State Income Tax. The amount of tax withheld for the state indicated in Box 15. 

Box 18: Local Wages, Tips, etc. The amount of your wages subject to local income tax. This amount may differ from the amount shown in Box 1 and/or Box 16. 

Box 19: Local Income Tax. The amount of tax withheld for the locality indicated in Box 20. This amount is entered on the appropriate line of your local tax return. 

Box 20: Locality Name. The name of the locality for which taxes were withheld. 

Written by :

Administrator