W2 Form On Paylocity – Fill Out and Use This PDF

D

Control Number: Optional field for employer use.

4

5

6

Social Security Tax Withheld: The amount of social security tax withheld from all OASDI taxable wages. This amount should be equal to 6.2% of the wages listed in box 3 up to the maximum allowed ($7,049.40 in calendar year 2013).

Medicare Wages and Tips: The total wages, tips and other compensation that are subject to Medicare taxes. There is no limit on the amount of wages that are subject to Medicare taxes.

Medicare Tax Withheld: The amount of Medicare tax withheld from your Medicare taxable wages, tips and other compensation. This amount should be equal to 1.45% of the wages listed in box 5. Wages over $200,000 incur an additional .09% of the wages.

12

Deferred Compensation and Other Compensation: There are several types of compensation and benefits that can be reported in box 12. Box 12 will report a single letter or double letter code followed by a dollar amount. Here are the codes for box 12:

∙Code A – Uncollected Social Security or RRTA tax on tips.

∙Code B – Uncollected Medicare tax on tips.

∙Code C – Taxable benefit of group term-life insurance over $50,000. Already included as part of your taxable wages in boxes 1, 3, and 5.

∙Code D – Non-taxable elective salary deferrals to a 401(k) or SIMPLE 401(k) retirement plan.

∙Code E – Non-taxable elective salary deferrals to a 403(b) retirement plan.

∙Code F – Non-taxable elective salary deferrals to a 408(k)(6) SEP retirement plan.

∙Code G – Non-taxable elective salary deferrals and non-elective employer contributions to a 457(b) retirement plan.

∙Code H – Non-taxable elective salary deferrals to a 501(c)(18)(D) tax-exempt plan.

∙Code J – Non-taxable sick pay. This amount is not included in taxable wages in Boxes 1, 3, or 5.

∙Code K – Excise tax (equal to 20%) on excess “golden parachute” payments.

∙Code L – Non-taxable reimbursements for employee business expenses.

∙Code M – Uncollected Social Security or RRTA tax on taxable group term life insurance over $50,000 for former employees.

∙Code N – Uncollected Medicare tax on taxable group term life insurance over $50,000 for former employees.

∙Code P – Non-taxable reimbursements for employee moving expenses, if the amounts were paid directly to the employee.

∙Code Q – Non-taxable combat pay. Some individuals may elect to include combat pay when calculating their Earned Income Credit.

∙Code R – Employer contributions to an Archer Medical Savings Account.

∙Code S – Non-taxable salary deferral to a 408(p) SIMPLE retirement plan.

∙Code T – Employer paid adoption benefits. This amount is not included in Box 1 wages.

∙Code V – Income from the exercise of non-statutory stock options. This amount is already included as taxable income in boxes 1, 3, and 5.

∙Code W – Employer contributions to your Health Savings Account. Employer contributions (including amounts the employee elected to contribute using a section 125 (cafeteria) plan) to your health savings account. Report on Form 8889, Health Savings Accounts (HSAs).

∙Code Y – Salary deferrals under 409A non-qualified deferred compensation plan.

∙Code Z – Income received under 409A non-qualified deferred compensation plan. This amount is already included in taxable wages in Box 1.

∙Code AA – After-tax contributions to a Roth 401(k) retirement plan.

∙Code BB – After-tax contributions to a Roth 403(b) retirement plan.

∙Code DD – Cost of employer-sponsored health coverage.

∙Code EE – Designated Roth contributions under a governmental 457(b) plan.

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Checkboxes: Checked boxes indicate whether an employee is a statutory employee, a participant of the employer’s retirement plan or received third party sick pay.

∙Statutory employees are employees whose earnings are subject to social security and Medicare tax, but not income tax.

∙Retirement Plan box is checked if you participated or are eligible to participate in an employer retirement plan. This information is used by the IRS to determine if you are eligible to contribute to an IRA.

∙Third Party Sick Pay may be checked if you received any compensation from an insurance company, under your employer’s plan while you were not working due to illness.