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Employer's Quarterly Federal Tax Return. Employers who withhold income taxes, social security tax, or Medicare tax from employee's paychecks or who must pay the employer's portion of social security or Medicare tax. Used to request a taxpayer identification number TIN for reporting on an information return the amount paid. Form W-9 PDF. Wage and Tax Statement. Employers must file a Form W-2 for each employee from whom Income, social security, or Medicare tax was withheld.
Form W-2 PDF. Copy B is for use in reporting your federal income taxes and is generally filed with your federal income tax return unless you are e-filing in which case you have to provide it to the preparer but it is not usually forwarded to IRS.
Copy 2 is for use in reporting your state, city or local income tax and is filed with the relevant taxing authorities. Copy C is for your records you should retain Copy C for at least three years after you file or the due date of your return, whichever is later. The left side of the form is for reporting taxpayer information; the right side of the form is used to report financials and codes.
The bottom of the form reports local and state tax information. Box a. You should always double-check this to make sure it's correct.
If it's not correct, you need to request a new form W-2 from your employer. An error could slow the processing of your return. Box b. Your employer's EIN is reported in box b. Box c. Your employer's address is reported in box c. This is the legal address of your employer which may or may not be where you actually work. Don't let that throw you. Box d. The control number is an internal number used by your employer or your employer's payroll department.
If your employer doesn't use control numbers, box d will be blank. Boxes e and f. These appear as one big block on your form W Your full name is reported at box e. It's supposed to reflect the name that's actually on your Social Security card the SSA isn't crazy about suffixes, even if you use them, so you shouldn't see one on your form W-2 unless it's on your Social Security card.
If your name isn't exactly as it appears on your Social Security card, you may need a new form W-2; ask your employer if you're not sure. Your address is reported at box f and should reflect your mailing address - which could be a post office box - likely without punctuation a USPS preference.
If your address on the form W-2 isn't correct, notify your employer: you won't need a new form W-2 but your employer needs to update his or her records. The boxes you care most about are those boxes a , e and f , as highlighted by the pink circles:.
Box 1 shows your total taxable wages, tips, prizes and other compensation, as well as any taxable fringe benefits. It does not include elective deferrals to retirement plans, pretax benefits or payroll deductions. Since the figure highlighted by the red arrow in my example below doesn't include those amounts, it's not unusual for this amount to be less than the amounts included at boxes 2 and 3.
It's the number most taxpayers care about the most. Box 2 reports the total amount of federal income taxes withheld from your pay during the year. This amount highlighted by the purple arrow in my example below is determined by the elections on your form W-4 based on exemptions and any additional withholding. If you find that this number is too low or too high, you'll want to make an adjustment on your form W-4 for the next year.
Box 3 shows your total wages subject to the Social Security tax. This figure is calculated before any payroll deductions which means that the amount in box 3 could be higher than the number reported in box 1, as in my example. It could also be less than the amount in box 1, if you're a high-wage earner, since the total of boxes 3 and 7 see below cannot exceed the maximum Social Security wage base. If you have more than one job, for Social Security tax purposes, the cap still applies.
Box 4 shows the total of Social Security taxes withheld for the year. Unlike federal income taxes, Social Security taxes are calculated based on a flat rate. The rate is 6. The amount in Box 4 should, then, be equal to the amount in box 3 times 6.
Since you should not have more Social Security withholding than the maximum wage base times 6. Box 5 indicates wages subject to Medicare taxes.
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