What does Box 14 mean on my W-2?

Box 14 — Employers can use this W-2 box to report information like: A member of the clergy’s parsonage allowance and utilities. Charitable contributions made through payroll deduction. Educational assistance payments. Health insurance premiums deducted.

Do you have to report Box 14 on W-2?

In most cases, the information that your employer lists in Box 14 of your W-2 does not affect your income tax return. In fact, for many Box 14 entries, the IRS does not even provide a place for it to get reported on your return forms.

Why does my W-2 say Justworks?

Why Does My W-2 List Justworks as My Employer? Don’t panic—this is correct! As a Professional Employer Organization (PEO), Justworks reports taxes on behalf of your company and will therefore be listed as your employer on your W-2.

What is the difference between w2s and w4s?

The difference between a W-2 and W-4 is that the W-4 tells employers how much tax to withhold from an employee’s paycheck; the W-2 reports how much an employer paid an employee and how much tax it withheld during the year. Both are required IRS tax forms.

What does code V in box 14 of my W2 mean?

Code “V” in Box 14 refers to contributions you made to “Non-Taxable Health Benefits”. (I am reading this description off the back of my W-2.)

What do you need to know about the W-2 box?

Code A Uncollected Social Security or RRTA tax Code V Income from the exercise of non-statutor Code W Employer and employee contributions to a Code Y Salary deferrals under 409A non-qualifie Code Z Income received under 409A non-qualified

What happens if Box 13 is checked on W-2?

Box 13 — If the “Retirement plan” box is checked, special limits can apply to the amount of traditional IRA contributions you can deduct. If the “Statutory Employee” box is checked, Box 1 will be carried to Schedule C line 1.

What is the address on a W-2 form?

The address may show your company’s headquarters rather than its local address. Box D: This is a control number that identifies your unique Form W-2 document in your employer’s records. This number is assigned by the company’s payroll processing software. Box E: This identifies your full name.

https://www.youtube.com/watch?v=YJUnNoLaDHY