You must mail or hand-deliver Forms W-2 to your employees no later than Jan.31 of each tax year, so if you haven't done so yet, contact an accountant for help with filing late and get to it as soon as possible. As an employee, you're required to report on your tax return all wages you earned from your job or jobs during the year.Sick pay is not included in your Box 1 wages, although sick pay is usually subject to Social Security and Medicare taxes.
Income received under 409A non-qualified deferred compensation plan.
This amount is already included in taxable wages in Box 1.
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Tax forms might be easier to understand if they weren't identified by numbers and letters, if they just clearly stated what they were in plain English.
Form W-2 is the "Wage and Tax Statement." You'll find this in smaller print right beside the eye-catching "Form W-2" in big print.
They are subject to Social Security and Medicare tax withholdings, however, so Boxes 3 through 6 should be filled out.
For a discussion of what constitutes a statutory employee and the rules that apply, see section 1 of Publication 15-A.
Your ability to deduct contributions to a traditional IRA may be limited based on your income if you participate in a retirement plan, so check with an accountant or other tax professional if this box is checked.