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Box 3 — Shows your employee wages subject to Social Security tax, which could be different from what’s reported on Box 1. Box 4 — Shows the amount of Social Security tax withheld from your pay. Box 5 — Shows your wages subject to Medicare tax.
- Form 1040
Schedule 3: Additional Credits and Payments. Here’s where...
- Deadlines and Extensions
Deadlines and Extensions - Understanding W-2 Boxes and Codes...
- Tax Filing Options
Filing taxes with H&R Block means you have several ways to...
- Find an Office
Small business tax prep File yourself or with a small...
- Deferred Compensation
Deferred Compensation - Understanding W-2 Boxes and Codes |...
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Receive tax filing assistance from an H&R Block tax...
- Federal Income Tax Rates for 2019-2020
Federal Income Tax Rates for 2019-2020 - Understanding W-2...
- Life Stages
Life Stages - Understanding W-2 Boxes and Codes | H&R Block
- Form 1040
What Do All Those Boxes and Codes on my Form W-2 Mean? Knowing how to read a Form W-2 can help you understand your salary, and also help you get a head-start when preparing your taxes.
8 maj 2024 · Box 3 shows an employee’s total wages subject to Social Security tax. Do not include the amount of pre-tax deductions that are exempt from Social Security tax in Box 3. The number in Box 3 should not be higher than the Social Security wage base , which is $168,600 for 2024.
24 sie 2011 · Box 3: Social security wages – This box reports the total amount of wages subject to employee Social Security tax, not including Social Security tips (Box 7) and allocated tips (Box 8). The total of Boxes 3 and 7 cannot exceed the maximum taxable amount of $132,900 (2019 Social Security wage base).
1 lut 2022 · Box 1: Wages, Tips and Other Compensation; This number is calculated using your GROSS pay from your last paycheck of the year minus pretax deductions (e.g., 401(k), medical, dental, HSA). Box 2: Federal Income Tax Withheld; This is the total amount you paid to the FEDERAL government in taxes. Box 3: Social Security Wages
15 lip 2024 · Form W-2, also known as the Wage and Tax Statement, is a document an employer sends to each employee and the Internal Revenue Service (IRS) and shows income earned from an employer and the...
A W-2 form, officially named the Wage and Tax Statement, is a document provided by your employer. It summarizes your earnings and the taxes withheld from your paycheck throughout the year. This form holds a fundamental role in the tax preparation process, ensuring you report your income accurately. Decoding the W-2 Form.