Multiple W-2s

There are situations that will result in having more than one W-2. The most common is you changed your state/county/city tax withholding during the year.  In this case you will see different information in boxes 15-20 on the W-2.   You will need to report both W-2s when you file your taxes.

 

If that is not the case, contact the HR Support Center (insert solution article on call center contact information) for guidance.

 

Discrepancies

  • The most common reason for this to occur is you received an award, or awards, with a net total of $1,000 or more during the calendar year.
  • Awards are “grossed up.”  What this means is that at the end of the year if an associate meets the parameter above, the Exchange will determine the appropriate taxes, at a 25% rate, and pay those taxes for the employee.
    • Since award payments of $1,000 or greater are considered taxable income, the amount of the award AND the computed amount of the taxes paid must be added to the associate’s income (displayed on the W-2).
    • As a result, the amount of income and taxes paid will be higher on the W-2.  
  • FYI
    • FICA (Social Security) is computed at 6.2% of the taxable gross wages and MEDICARE is computed at 1.45%.
    • For associates overseas, IRS Publication 516 has information regarding what is considered taxable, https://www.irs.gov/pub/irs-pdf/p516.pdf.

See also:

W-2: Box 12 Codes Definitions

W-2: Viewing and Printing