W-2 statements being mailed to all employees this week

The City is mailing all employees their 2012 Tax Statements (W-2’s) this week. Your W-2, which shows your total income from the year as well as the various taxes withheld from your paycheck in 2012, provides key information that you’ll need to prepare your 2012 income taxes.

Frequently Asked Questions about W-2’s

Q.  What does the amount in Box 12DD represent?

As part of the Affordable Care Act, employers must report the cost of employer-sponsored health coverage. What is not included is dental coverage and VEBA payments. The amount includes the portion of the cost paid by the employer and the portion of the cost paid by the employee, including any COBRA payments. 

Q.  Why does the amount withheld for social security tax seem smaller on my W-2?

Social security taxable wages for 2012 were only subject to 4.2% for employees and 6.2% for employer. For wages received in 2013, the social security tax being withheld is back to 6.2%, with the employer amount remaining at 6.2% 

Q.  Why doesn’t the wages on my W-2 match my gross wages on my year-end pay stub? 

Pre-tax deductions for medical, dental, pension, deferred compensation, etc. deducted from your paycheck may not be included in wages subject to taxes. 

Q.  Why are there four wage amounts on my W-2 and why are the amounts different?

Your W-2 will show one or more of the following types of wages:

Box 1 – Wages, Tips and other compensation: These are wages subject to Federal Income Tax.  This may include uniform allowances (UNI) or health club membership reimbursements (HCM).

Box 3 – Social Security Wages: These are wages subject to Social Security Taxes, such as FICA (OASDI) on your pay stub.

Box 5 – Medicare Wages: These are wages subject to Medicare Taxes (Med) on your pay stub.

Box 16 – State Wages, Tips: These are wages subject to state income tax. This may include uniform allowances or health club membership reimbursements.

Q.  How can I obtain a duplicate copy of my W-2?

You can request a duplicate copy through self-service in HRIS. Requests will take five to seven working days to be processed. 

Published Jan 30, 2013