W-2 Form Fillable - Printable - Download Free | 2020 Instructions | FormSwift
SummaryHow Do I Fill Out a W-2? The W-2 is probably one of the most common tax forms used by people. The myriad of boxes and blanks on can seem frustrating at first glance, but now that you understand them
How Do I Fill Out a W-2?
The W-2 is probably one of the most common tax forms used by people. The myriad of boxes and blanks on can seem frustrating at first glance, but now that you understand them from reading about them earlier in this guide, filling out the form should be easy for you if you must do it by hand. However, first check your bookkeeping and payroll software (or with the company that helps you with your payroll) to find out if the form can be automatically generated for each employee by the end of January.
In Box A list the employee’s SSN. If it is not on the form, or incorrect, it could prevent the employee from filing their taxes in a timely manner
In Box B you’ll list the EIN for the business.
In Box C you’ll add the employer’s name, address, and zip code.
In Box D enter the control number assigned by the company’s payroll processing system.
Next, use Box E to list the full name of the employee. The first box is for the employee’s first name and middle initial. The second box is for the last name. The small box is to list a suffix.
Record the employee’s address (including city, state, and zip code) in Box F.
Next, address the boxes with numbers. Start with Box 1. List the wages, tips and other compensation paid to the employee. This number should include hourly wages or salary, tips, and bonuses.
In Box 2 list the amount of money withheld for federal income taxes.
Box 3 lists the individual’s social security wages.
Box 4 documents how much Social Security tax was actually withheld on behalf of the employee.
In Box 5, you’ll list the amount of income eligible for the Medicare tax.
In Box 6, you’ll document: the amount of the Medicare tax actually withheld.
Use Box 7 to record tip income that was reported by the employee to the employer.
Use Box 8 for any tip income that was assigned to the employee by the employer.
Use Box 9 if you’re still involved in a verification code program. On most W-2s, this box is blank.
Use Box 10 to list any amount of money for dependent care that was reimbursed through a flex spending account, paid directly to a provider by the employer, or paid to the employee to reimburse dependent care expenses.
Box 11 isn’t used by most businesses. However, if necessary, you’d use it to report money paid to an employee as part of a on-qualified compensation plan or non-government pension plan.
In Box 12 you’ll list deferred compensation. This usually involves savings or retirement plans.
You’ll check the appropriate boxes in Box 13.
In Box 14 you’ll list any additional information that must be reported.
Box 15 marks the beginning of state information. The employer’s state employer tax identification number will be listed here. There’s room for you to list information for two states for one employee.
Box 16 lists the total number of taxable wages earned in the state.
In Box 17 you’ll list the amount of state income tax withheld.
Use Box 18 to record the amount of an employee’s wages that are subject to local, city, or other taxes.
In Box 19 you’ll list the amount of local income tax withheld.
Box 20 lists the locality or city being paid locally.
Common errors on the W-2 form when completing it by hand include making entries using ink that is too light or making entries that are too small or too large. Make sure to use black ink and clear writing if you complete it by hand. If it is being generated by a computer, use a clear font, such as Courier, that is easy to read. Also, make sure not to add dollar signs to the boxes that list dollar amounts. Do not omit decimal points and cents from entries. Most importantly, do not incorrectly format the employee’s name in Box E. There are stringent penalties for employers who fail to complete the W-2 form by the end of January.
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- W-2 Form Fillable - Printable - Download Free | 2020 Instructions | FormSwift
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