| Subject |
2002
W-2 Year End Processing |
| Purpose |
To
provide the processing schedule and policies. |
| Year-End
Processing Schedule |
Employees'
copies of 2002 W-2 forms will be prepared by the Office of the State
Comptroller (OSC) and mailed to the agency payroll units for distribution
before February 1, 2003.
W-2s for the 2002 calendar year will include earnings paid on checks
dated:
| Administration: |
1/02/2002 through
12/31/2002 |
| Institution: |
1/10/2002 through
12/26/2002 |
An employee who has worked for
more than one State agency during the year, in most circumstances, will
receive one W-2. Workers' Compensation supplemental payments will continue
to be included in the W-2 statements.
NOTE:
AC 230's for calendar year 2002 must be received by OSC no later than
1/2/2003 for the Institution cycle or 1/8/2003 for the Administration
cycle to be included in the 2002 W-2.Agency payroll units will need to
prepare corrected W-2 forms if these deadlines are not met.
Refer to Payroll Bulletin No. 342 for the AC 230 processing schedule. |
| 2002
W-2 Form |
The
information which will appear on the W-2 is described below:
| Box 1 |
Wages, Tips
and Other Compensation |
|
Federal taxable
wages
|
| Box 2 |
Federal
Income Tax Withheld |
|
Total federal
income tax withheld
|
| Box 3 |
Social
Security Wages |
|
Wages subject to
Social Security taxes, not to exceed $84,900.00.
|
| Box 4 |
Social
Security Tax Withheld |
|
Social Security
Tax deducted, not to exceed $5,263.80.
|
| Box 5 |
Medicare
Wages |
|
All wages subject
to Medicare taxes. There is no salary cap on Medicare wages.
|
| Box 6 |
Medicare
Tax Withheld |
|
Medicare tax
deducted.
|
| Box 9 |
Advance EIC
Payments |
|
Total earned
income credit paid to an employee.
|
| Box 10 |
Dependent
Care Benefits |
|
Total dependent
care deductions.
|
| Box 12 |
Codes
(Amounts not included in Box 1) |
|
E -
Section 403(b) contributions |
|
G -
Section 457(b) deferred compensation plan |
|
P -
Excludable moving expense reimbursements (not included in boxes 3,
and 5)
|
| Box
13 |
Checkbox
|
|
[ ]Retirement
Plan [ ]Third Party Sick Pay
|
| Box
14 |
Other
|
|
Amounts to be
reported:
|
|
414
(H) |
All non-taxable
Tier 3 and Tier 4 contributions made to New York State or 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, it can be disregarded for state and local taxes since the
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 - lease value of employer-provided vehicle |
|
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 NYS
Workers' Compensation Board, which is excluded from the gross pay
for the current year for a work related injury. |
|
IRC125 |
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,
and is not included in Boxes 1, 3, and 5. This amount must be
reported for State and Local Taxes. |
|
TPS |
The amount of
sick pay paid by a third party.
|
| Box
15 |
State |
Employer's State
|
|
A two-letter code
from the list below indicating which State income taxes were
withheld.
|
|
NY - New York |
|
IL - Illinois |
|
DC - District of
Columbia |
|
VA - Virginia
|
| Box 17 |
State
Income Tax |
|
The total State
tax withheld is reported in this box.
|
| Box
19 |
Local
Income Tax |
|
The total local
taxes withheld are reported in this box. New York City tax withheld
is on the top line and Yonkers tax withheld is directly below in the
same box.
|
| Box
20 |
Name of
Locality |
|
Name of locality
if local income tax was withheld for New York City and /or City of
Yonkers. |
Employer's Name and address
|
This information
will be printed on all copies of the W-2 and includes the NYS
Federal ID # (14-6013200), City University Federal ID #
(13-3893536), NYS Environmental Facilities Corp Federal ID #
(14-1499804), NYS Science and Technology Federal ID # (14-1491323),
SUNY Construction Fund Federal ID # (14-6019701) OR Industrial
Exhibit Authority Federal ID # (16-1332929). |
|
Additional
Employee Information
 Also See
Attachment A: Taxable Gross Calculations
|
Employees in agencies other than CUNY
should retain their last check stub of 2002 for a record of the Non-Taxable
Health Insurance paid in 2002. Although this amount is deducted from boxes
1, 3, and 5 to calculate the taxable salary for federal income tax and social
security and Medicare taxes, the amount paid for health insurance in 2002 does
not appear on the W-2.
For CUNY employees, deductions for Dependent Care, Flexible Spending Account
and Non-taxable Health Insurance are reported as IRC125 in Box 14.
|
| Questions
|
Questions regarding the W-2 process and the AC-230 process may
be directed to the Payroll Deductions mailbox.
|
|
Attachment A -
Taxable Gross Calculations |
