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Kind W-2 Field 12 Codes

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A Uncollected Social Safety or RRTA tax on suggestions. For those who didn’t withhold Social Safety tax or Railroad Retirement Tax Act tax (retirement taxes for the railroad business) on an worker’s suggestions, you’ll enter A and the quantity in Field 12. B Uncollected Medicare tax or RRTA tax on suggestions. For those who didn’t withhold Medicare tax or Railroad Retirement Tax Act on an worker’s suggestions, you’ll enter B and the quantity in Field 12. C Taxable price of group-term life insurance coverage over $50,000. For those who present group-term life insurance coverage protection over $50,000, you’ll enter C in Field 12, in addition to Packing containers 1, 3, and 5. For the quantity it’s worthwhile to enter, seek the advice of the IRS. D Elective deferrals below a piece 401(ok) money or deferred association plan (together with a SIMPLE 401(ok) association). In case your worker contributes to a 401(ok) retirement plan, enter D and the quantity in Field 12. Additionally, verify the retirement plan field in Field 13. E Elective deferrals below a piece 403(b) wage discount settlement. In case your worker contributes to a 403(b) retirement plan, enter E and the quantity in Field 12. Examine the retirement plan field in Field 13 as properly. F Elective deferrals below a piece 408(ok)(6) wage discount settlement. In case your worker contributes to a 408(ok)(6) retirement plan, together with a Simplified Worker Pension plan (SEP), enter F and the quantity in Field 12. G Elective deferrals and employer contributions (together with nonelective deferrals) to a piece 457(b) deferred compensation plan. This can be a retirement plan for presidency companies together with hospitals and charities, but when your worker contributes to a 457(b), enter G and the quantity in Field 12. H Elective deferrals to a piece 501(c)(18)(D) tax-exempt group plan. This retirement plan is a tax-exempt group plan. In case your worker contributes to a 501(c)(18)(D) plan, enter H and the quantity in Field 12 in addition to Field 1. I At the moment not used. J Nontaxable sick pay. Present any sick pay that was paid by a third-party and was not includible in earnings (and never proven in Packing containers 1, 3, and 5) as a result of the worker contributed to the sick pay plan. Okay 20% excise tax on extra golden parachute funds. Extra golden parachute funds apply to workers of massive companies who’re present process mergers. L Substantiated worker enterprise expense reimbursements. If an worker’s enterprise bills are nontaxable, you would come with this in Field 12. To find out in case your worker’s enterprise bills are nontaxable, seek the advice of the IRS. Taxable parts go in Packing containers 1, 3, and 5. M Uncollected Social Safety or RRTA tax on taxable price of group-term life insurance coverage over $50,000 (former workers solely). For those who didn’t acquire Social Safety tax or RRTA tax from former workers for group-term life insurance coverage over $50,000, enter M and the quantity in Field 12. N Uncollected Medicare tax on taxable price of group-term life insurance coverage over $50,000 (however not Further Medicare Tax; for former workers solely). For those who didn’t acquire Medicare tax or RRTA tax from former workers for group-term life insurance coverage over $50,000, enter N and the quantity in Field 12. P Excludable shifting expense reimbursements paid on to members of the Armed Forces. That is just for members of the Armed Forces. Q Nontaxable fight pay. That is just for navy personnel. R Employer contributions to an Archer Medical financial savings account. In case your workers have Archer Medical financial savings accounts, you’ll enter the quantity you contributed in Field 12. Additionally, you will have to report quantities not excluded in your worker’s gross pay in Packing containers 1, 3, and 5. S Worker wage discount contributions below a piece 408(p) SIMPLE plan. If an worker contributes to a SIMPLE retirement plan (and never a 401(ok)), embody the quantity they’ve taken out of their paychecks in Field 12. Additionally, enter the quantity in Packing containers 3 and 5, in addition to verify the retirement plan field in Field 13. T Adoption advantages. For those who supply advantages to your workers who undertake, you will want to incorporate the entire quantity in Field 12. Additionally, in case your worker contributes to a 125 adoption plan, embody what they contributed earlier than taxes. Enter the entire quantity in Packing containers 3 and 5 as properly. U At the moment not used. V Revenue from train of nonstatutory inventory choice(s). You’ll report the distinction between the honest market worth and the value an worker paid for a nonstatutory inventory in Field 12, in addition to in Packing containers 1, 3, and 5. W Employer contributions to a Well being Financial savings Account (HSA) (together with worker contributions by way of a cafeteria plan). For those who contribute to an worker’s Well being Financial savings Account plan, you’ll enter the quantity of your contributions in Field 12. Additionally, it’s worthwhile to embody your contributions in Field 1. Y Deferrals below a Part 409A nonqualified deferred compensation plan. No matter whether or not the deferrals are a part of earnings or not, enter the quantity put right into a nonqualified deferred compensation plan. Z Revenue below a nonqualified deferred compensation plan that fails to fulfill Part 409A. You’ll enter the quantity of whole earnings that doesn’t meet the necessities of Part 409A. The quantity for Code Z might be taxed 20% plus curiosity in your worker’s Kind 1040. AA Designated Roth contributions below a piece 401(ok) plan. In case your worker contributes to a Roth 401(ok) plan, report the quantity in Field 12, and verify the retirement plan field in Field 13. BB Designated Roth contributions below a piece 403(b) plan. Enter the quantity an worker contributed to a Roth 403(b) plan in Field 12, and verify the retirement plan field in Field 13. CC At the moment not used. DD Price of employer-sponsored well being protection. You’ll report the quantity of employer-provided well being protection in Field 12 with Code DD. EE Designated Roth contributions below a governmental part 457(b) plan. You’ll embody Roth contributions below a 457(b) plan in Field 12 in addition to Packing containers 1, 3, and 5.



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