The W-2 box 12 codes are: A — Uncollected Social Security or RRTA tax on tips. Include this tax on Form 1040 Schedule 2, line 8, check box c and identify as “UT”. 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).

What do the W-2 boxes and W-2 form codes mean?

Understanding Your W-2. Box A: Your Social Security number appears here. Box B: This is your employer’s unique tax identification number or EIN. Box C: This identifies the name, address, city, state and zip code of your employer.

What is the W2 Box 12 code for a simple IRA?

Box 12: Enter $5,000. Enter Code S: SIMPLE retirement account (408(p) plan)

Do you have to include Box 12 on Form W-2?

For example, you can include every type of box 12 amount in one employee wage record if you upload an electronic file. If you file on paper or create Forms W-2 online, you can include only four box 12 amounts per Form W-2. See the TIP for Box 12—Codes under Specific Instructions for Form W-2. Waiver from e-filing.

What do the codes mean on the W2 form?

Answer. The W2 boxes and codes show the wages you’ve earned and any taxes paid through withholding. To help you understand your Form W2, we’ve outlined each of the W-2 boxes and the corresponding W2 box codes below. Box 1 — Shows your wages, tips, prizes, and other compensation for the year.

How to file a 30 day extension for W-2?

You may request one 30-day extension to file Form W-2 by submitting a complete application on Form 8809, Application for Extension of Time To File Information Returns, indicating that at least one of the criteria on the form and instructions for granting an extension applies and signing under penalties of perjury.

What is the W-2 box for statutory employee?

Box 13 — If the “Retirement plan” box is checked, special limits can apply to the amount of traditional IRA contributions you can deduct. If the “Statutory Employee” box is checked, Box 1 will be carried to Schedule C line 1. Box 14 — Employers can use this W-2 box to report information such as: Railroad employers use this W-2 box to report: