Vision Payroll

January 22, 2011

2010 Form W-2 Tips, Part 13, Box 12 Codes

Filed under: News — Tags: , , , , , , , — Vision @ 10:48 am

This is one in a continuing series on the 2010 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than January 31, 2011. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet that deadline may file a request for extension of time to furnish the forms. Today we review Box 12, codes.

Box Identifiers a, b, c, and d Are not Codes

Enter codes and amounts in boxes 12a, 12b, 12c, and 12d. The letters a, b, c, and d do not relate to the codes, but are strictly for identification purposes. If an employee has code C for $100 and that is the only code for that employee, the employer may enter code C in box 12a; it does not need to be entered in box 12c. If filing copy A on paper, enter only four codes on one Form W-2. Employers should use multiple forms for employees with more than four codes. There is no limit on the number of codes on any other copy of Form W-2. Enter the code and amount without dollar signs or commas.

The codes and their descriptions are as follows:

Code AUncollected social security or RRTA tax on tips
Code BUncollected Medicare tax on tips
Code CTaxable cost of group-term life insurance over $50,000
Code DElective deferrals under §401(k) cash or deferred arrangement (plan)
Code EElective deferrals under §403(b) salary reduction agreement
Code FElective deferrals under §408(k)(6) salary reduction SEP
Code GElective deferrals and employer contributions (including nonelective deferrals) to any governmental or nongovernmental §457(b) deferred compensation plan
Code HElective deferrals under §501(c)(18)(D) tax-exempt organization plan
Code JNontaxable sick pay
Code K20% excise tax on excess golden parachute payments
Code LSubstantiated employee business expense reimbursements
Code MUncollected social security or RRTA tax on taxable cost of group-term life insurance over $50,000 (for former employees)
Code NUncollected Medicare tax on taxable cost of group-term life insurance over $50,000 (for former employees)
Code PExcludable moving expense reimbursements paid directly to employee
Code QNontaxable combat pay
Code REmployer contributions to an Archer MSA
Code SEmployee salary reduction contributions under a §408(p) SIMPLE
Code TAdoption benefits
Code VIncome from the exercise of nonstatutory stock option(s)
Code WEmployer contributions to a Health Savings Account (HSA)
Code YDeferrals under a §409A nonqualified deferred compensation plan
Code ZIncome under §409A on a nonqualified deferred compensation plan
Code AADesignated Roth contributions under a §401(k) plan
Code BBDesignated Roth contributions under a §403(b) plan
Code CCHIRE exempt wages and tips

Employers should combine elective deferrals and elective catch-up contributions into one sum and report under the appropriate elective deferral plan code.

Box 13, Checkboxes Is the Next Topic

The next topic in this continuing series will be Box 13, checkboxes. Contact Vision Payroll with any questions on the 2010 Form W-2.

January 24, 2010

2009 Form W-2 Tips, Part 13, Box 12 Codes

Filed under: News — Tags: , , , , , , , — Vision @ 9:53 pm

This is one in a continuing series on the 2009 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 1, 2010. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet that deadline may file a request for extension of time to furnish the forms. Today we review Box 12, codes.

Enter codes and amounts in boxes 12a, 12b, 12c, and 12d. The letters a, b, c, and d do not relate to the codes, but are strictly for identification purposes. If an employee has code C for $100 and that is the only code for that employee, the employer may enter code C in box 12a; it does not need to be entered in box 12c. If filing copy A on paper, enter only four codes on one Form W-2. Employers should use multiple forms for employees with more than four codes. There is no limit on the number of codes on any other copy of Form W-2. Enter the code and amount without dollar signs or commas.

The codes and their descriptions are as follows:

Code AUncollected social security or RRTA tax on tips
Code BUncollected Medicare tax on tips
Code CTaxable cost of group-term life insurance over $50,000
Code DElective deferrals under §401(k) cash or deferred arrangement (plan)
Code EElective deferrals under §403(b) salary reduction agreement
Code FElective deferrals under §408(k)(6) salary reduction SEP
Code GElective deferrals and employer contributions (including nonelective deferrals) to any governmental or nongovernmental §457(b) deferred compensation plan
Code HElective deferrals under §501(c)(18)(D) tax-exempt organization plan
Code JNontaxable sick pay
Code K20% excise tax on excess golden parachute payments
Code LSubstantiated employee business expense reimbursements
Code MUncollected social security or RRTA tax on taxable cost of group-term life insurance over $50,000 (for former employees)
Code NUncollected Medicare tax on taxable cost of group-term life insurance over $50,000 (for former employees)
Code PExcludable moving expense reimbursements paid directly to employee
Code QNontaxable combat pay
Code REmployer contributions to an Archer MSA
Code SEmployee salary reduction contributions under a §408(p) SIMPLE
Code TAdoption benefits
Code VIncome from the exercise of nonstatutory stock option(s)
Code WEmployer contributions to a Health Savings Account (HSA)
Code YDeferrals under a §409A nonqualified deferred compensation plan
Code ZIncome under §409A on a nonqualified deferred compensation plan
Code AADesignated Roth contributions under a §401(k) plan
Code BBDesignated Roth contributions under a §403(b) plan

Employers should combine elective deferrals and elective catch-up contributions into one sum and report under the appropriate elective deferral plan code.

The next topic in this continuing series will be Box 13, checkboxes. Contact Vision Payroll with any questions on the 2009 Form W-2.

January 27, 2009

2008 Form W-2 Tips, Part 13, Box 12 Codes

Filed under: News — Tags: , , , , , , , — Vision @ 10:23 pm

This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet that deadline may file a request for extension of time to furnish the forms. Today we review Box 12, codes.

Enter codes and amounts in boxes 12a, 12 b, 12c, and 12d. The letters a, b, c, and d do not relate to the codes, but are strictly for identification purposes. If an employee has code C for $100 and that is the only code for that employee, the employer may enter code C in box 12a; it does not need to be entered in box 12c. If filing copy A on paper, enter only four codes on one Form W-2. Employers should use multiple forms for employees with more than four codes. There is no limit on the number of codes on any other copy of Form W-2. Enter the code and amount without dollar signs or commas.

The codes and their descriptions are as follows:

Code A

Uncollected social security or RRTA tax on tips

Code B

Uncollected Medicare tax on tips

Code C

Taxable cost of group-term life insurance over $50,000

Code D

Elective deferrals under §401(k) cash or deferred arrangement (plan)

Code E

Elective deferrals under §403(b) salary reduction agreement

Code F

Elective deferrals under §408(k)(6) salary reduction SEP

Code G

Elective deferrals and employer contributions (including nonelective deferrals) to any governmental or nongovernmental §457(b) deferred compensation plan

Code H

Elective deferrals under §501(c)(18)(D) tax-exempt organization plan

Code J

Nontaxable sick pay

Code K

20% excise tax on excess golden parachute payments

Code L

Substantiated employee business expense reimbursements

Code M

Uncollected social security or RRTA tax on taxable cost of group-term life insurance over $50,000 (for former employees)

Code N

Uncollected Medicare tax on taxable cost of group-term life insurance over $50,000 (for former employees)

Code P

Excludable moving expense reimbursements paid directly to employee

Code Q

Nontaxable combat pay

Code R

Employer contributions to an Archer MSA

Code S

Employee salary reduction contributions under a §408(p) SIMPLE

Code T

Adoption benefits

Code V

Income from the exercise of nonstatutory stock option(s)

Code W

Employer contributions to a Health Savings Account (HSA)

Code Y

Deferrals under a §409A nonqualified deferred compensation plan

Code Z

Income under §409A on a nonqualified deferred compensation plan

Code AA

Designated Roth contributions under a §401(k) plan

Code BB

Designated Roth contributions under a §403(b) plan

Employers should combine elective deferrals and elective catch-up contributions into one sum and report under the appropriate elective deferral plan code.

The next topic in this continuing series will be Box 13, checkboxes. Contact Vision Payroll with any questions on the 2008 Form W-2.

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