Purpose
To inform agencies of the content information for the 2010 Form W-2.
Background
According to IRS Publication 15, Circular E for 2010, and the Instructions for Form W-2 (Wage and Tax Statement), employers are required to furnish each employee with a Form W-2 by January 31, 2011.
2010 Form W-2 Content
2010 Form W-2s will include earnings paid in paychecks dated:
Administration: | 1/6/10 through 12/22/10 |
Institution: | 1/14/10 through 12/30/10 |
An employee who has worked for one (1) company, State of New York (NYS) or City University of New York (CUNY) during the year will receive only one (1) Form W-2. Employees who worked in more than one (1) company (for example, both CUNY and NYS) will receive a Form W-2 for each company.
The information which will appear on the Form W-2 Statement is described below:
Box 1 | Wages, Tips and Other Compensation The amount in this box is the Federal taxable gross wages. |
Box 2 | Federal Income Tax Withheld The amount in the box is the Federal income tax withheld. |
Box 3 | Social Security Wages The amount in this box is the wages subject to Social Security taxes, not to exceed $106,800. |
Box 4 | Social Security Tax Withheld The amount in this box is the Social Security tax withheld, not to exceed $6,621.60. |
Box 5 | Medicare Wages The amount in this box is the wages subject to Medicare withholding. |
Box 6 | Medicare Tax Withheld The amount in this box is the Medicare tax withheld. |
Box 9 | Advance EIC Payments The amount in this box is the total Earned Income Credit payments. |
Box 10 | Dependent Care Benefits The amount in this box is the total dependent care benefit. |
Box 12 | Codes (Elected deferrals, certain deductions and/or reimbursed amounts. These amounts are not included in Box 1). CC - HIRE exempt wages and tips
G - Section 457(b) deferred compensation plan P - Excludable moving expense reimbursements (not included in Boxes 3 and 5) |
Box 13 | Checkboxes A check mark is placed in the Retirement Plan box and/or the Third Party Sick Pay box if you are eligible to participate in a retirement plan and/or have received Third Party Sick Pay benefits. |
Box 14 | Other Amounts to be reported: TPS - The amount of sick pay paid by a Third Party Provider. CPA - The amount of Chaplains Parsonage Allowance. 414 (h) - All non-taxable retirement contributions made to New York State, City Retirement Systems or to TIAA/CREF. This amount must be reported for State and Local taxes. If there is a minus sign (-) with this amount, State and Local taxes have already been paid. UTA - Uniform/Tool Allowance. EXP - Taxable Expense. This code is used for payments of “lieu of expenses,” non-overnight meal allowances, excess per diem reimbursements or personal car mileage. FRB - Taxable Fringe Benefit. This code is used for the taxable value of personal use of an employer-provided vehicle and/or Certification and Licensure Exam Fee Reimbursement. EDA - Educational Assistance Payments. TXP - Taxable transportation fringe benefits (parking) in excess of IRS excludable amounts. PPL - Pre-Paid Legal Expense. IMP - Imputed Income. The value of the employer’s contributions for employees with Domestic Partner Health Insurance. WCX - Workers’ Compensation excluded amount. This is the amount awarded by the NYS Workers’ Compensation Board which is excluded from the current year gross pay for a work-related injury. IRC125 - For City University of New York (CUNY) employees only. This amount includes Dependent Care, Flexible Spending Account and Non-Taxable Health Insurance and is excludable for Federal income tax, FICA and Medicare taxes. It is not included in Boxes 1, 3 and 5. This amount must be reported for State and Local taxes. MNA - The amount of military pay exempt from NYS income tax as provided by NY Tax Law. Note: This is applicable to members of the New York State organized militia only and paid in Agencies 01071 and/or 01072. |
Box 15 | State A two-letter code from the list below indicating which State income taxes were withheld:
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Box 16 | State Wages The State wages reported are the same as the amount of Federal wages required to be reported in Box 1 - Wages, Tips and Other Compensation. |
Box 17 | State Income Tax The amount in this box is the State tax withheld. |
Box 18 | Local Wages The amount in this box is the Local wages. |
Box 19 | Local Income Tax The amount in this box is the Local taxes withheld. |
Box 20 | Name of Locality The name of the locality if Local taxes were withheld. |
Locality | Locality Code |
New York City | P0001 |
Yonkers | 84000 |
Anne Arundel | 003 |
Wilkes-Barre | 851521 |
Philadelphia City | 1510012M |
Employer’s Name and Address
This information will be printed on all copies of the Form W-2. The box will include the Federal Employer Identification Number for the following companies:
New York State 14-6013200
City University 13-3893536
NYS Environmental Facilities Corporation 14-1499804
NYS Foundation for Science, Technology and Innovation 86-1167163
SUNY Construction Fund 14-6019701
Industrial Exhibit Authority 16-1332929
Additional Employee Information
Employees should retain their last paycheck stub/direct deposit advice statement for 2010 for a record of Non-Taxable Health Insurance paid in 2010.Employees participating in the NYS-Ride Transportation Benefit Program should retain their last paycheck stub/direct deposit advice statement for 2010 for a record of participation in the program and verification of the amount paid.
These amounts are excluded from Boxes 1, 3 and 5 to calculate the taxable gross wages for Federal income tax, Social Security and Medicare taxes. However, the amounts for the health insurance and the NYS-Ride Transportation Program do not appear on the Form W-2.
CUNY employees with deductions for the Pre-Tax and After-Tax Transit Benefit should retain their last paycheck stub/direct deposit advice statement for 2010 for a record of participation and the amount paid in the CUNY Transit Benefit Transportation Spending Account Program.
The Pre-Tax Transit Benefit deduction is excluded from Boxes 1, 3 and 5 to calculate the taxable gross wages for Federal income tax, Social Security and Medicare taxes. However, the Pre-Tax and After-Tax Transit Benefit amounts do not appear on the Form W-2.
Deductions for Dependent Care, Health Care Flexible Spending Account and Non-taxable Health Insurance for CUNY employees are reported as IRC 125 in Box 14.
Taxable Gross Calculations
Attachment (Please click on the link below)
W-2 Distribution
The agency address will be used as the return address for all 2010 Form W-2 Statements.
OSC will mail Form W-2s to the employees’ mailing address currently in PayServ. If no mailing address exists, the form will be mailed to the employee’s home address.
Note: “Important Tax Document Enclosed” appears on the outside of the Form W-2 Statement.
Questions
Questions concerning Form W-2s may be emailed to the Tax and Compliance mailbox.