What Do the Codes Mean on W-2 Box 12?
The rate is 6.2%. The amount in Box 4 should, then, be equal to the amount in box 3 times 6.2%. Since you should not have more Social Security withholding than the maximum wage base times 6.2%, the amount in box 4 should not exceed $7,347.00. In my example, the figure is $50,000 x .062, or $3,100.00.
What’s the difference between copy a and W-2?
Copy A looks different from the others forms W-2 because it’s printed in red: the rest are printed in black. Copy A is transmitted to the Social Security Administration (SSA) along with a form W-3 (the form W-3 reports the total of all forms W-2 for the employer).
