Form W-2 (Wage and Tax Statement) is the mandatory tax form for employers to file to report the income paid for the employment and taxes withheld from employees. The information required on the form is more than that though as the filer, the employer, needs to specify the types of wages paid and taxes withheld. In this article, we’ll provide you with everything that an employer needs to know about the money amounts on Form W-2.
Get Form W-2 2023
Wages and tips
On Box 1, enter the total amount of wage, salary, and other compensation paid.
On Box 3, enter the wages subject to Social Security taxes.
On Box 5, enter the wages and tips subject to Medicare taxes.
On Box 7, enter the tips subject to Social Security taxes.
On Box 8, enter the allocated tips.
On Box 16, enter state wages and tips.
On Box 18, enter the local wages and tips.
Taxes withheld and other
On Box 2, enter federal income taxes withheld.
On Box 4, enter Social Security taxes withheld.
On Box 6, enter Medicare taxes withheld.
On Box 10, enter the dependent care benefits.
On Box 11, enter nonqualified plans.
On Box 12, enter the specified payments made using the Box 12 codes.
On Box 15, enter the state name.
On box 16, enter the state ID number (employers).
On Box 17, enter the state income taxes withheld.
On Box 19, enter the local income taxes.
On Box 20, enter the local government’s name.