What Does It Mean When Box 2 on W-2 Is Blank?
Hello- box 18 on my W2 is empty but there are amounts in box 19 which I entered. I received an error message when trying to save my info that in box 18 Wages must be larger than Tax. … read more
What should be in box 5 of W-2?
The amount in Box 5 multiplied by the Medicare tax rate should equal Box 6. But if the employee earned above $200,000 (single), their tax liability should be greater. If you paid an employee above $200,000 (single), you should have also withheld the additional Medicare tax rate of 0.9% from their wages above $200,000.
Why are wages in box 1 lower on W-2?
The wages you report in Box 1 might be higher or lower than other wages on Form W-2. This is not a mistake. For example, an employee’s Box 1 wages can be lower than Box 3 wages. Some pre-tax benefits are exempt from federal income tax but not Social Security tax.
