How to Read Your W2

The letters and numbers listed below coordinate to the letters and numbers listed in the boxes on your W2 form.

a. Employee’s social security number

This is the employee’s social security number. The social security number must match the employee’s social security card. If there is a discrepancy, contact Payroll Accounting at 585-0382.

b. Employer’s identification number

This number is the University of Utah’s federal tax I.D. number.

c. Employer’s name, address, and ZIP code

This is the University of Utah’s name, address, and ZIP code.

d. Control number

N/A

e. Employee’s name

This is the employee’s name.

f. Employee’s address and zip code

This is the employee’s address and zip code. A corrected W-2 is not required for an address change.
(Note: Changes to address can be made via Change Your Address.)

1. Wages, tips, other compensation

This figure includes all federally taxable income for checks received from the University of Utah in the calendar year 2008; December 16, 2007 thru December 15, 2008.

Includes:
- Wages (gross wages payments less tax deferred and tax excluded amounts such as retirement amounts, flexible spending account, parking, and salary deferrals i.e.403(b) or 457 contributions.)
- Taxable tuition reduction
- Nonqualified moving expenses

Excludes:
- 403(b) contributions
- 457 contributions
- Employee paid health care (reported as Flexible Spending Account)
- Dependent care
- Qualified moving expenses

Box 1 represents the taxable wages amount that is reported on the employee’s 1040.

2. Federal income tax withheld

This figure includes all federal taxes withheld from University paychecks in the calendar year 2008.

3. Social security wages

This figure includes all social security taxable income for University paychecks in the calendar year 2008. The social security tax maximum amount for 2008 was $102,000.
This amount will include box 1, plus 403(b) and 457 salary deferrals, up to the social security maximum.

4. Social security tax withheld

This figure includes all social security taxes withheld for University paychecks in the calendar year 2008. This tax is noted as FICA on your check stub. This equals box 3 times 6.2%.

5. Medicare wages and tips

This figure includes all Medicare taxable income for University paychecks in the calendar year 2008. There is no maximum amount for Medicare taxes. This amount will include box 1, plus 403(b) and 457 salary deferrals.

6. Medicare tax withheld

This figure includes all Medicare taxes withheld from paychecks received from the University of Utah in the calendar year 2008. This tax is noted as FICA-MED/HI on the check stub This equals box 5 times 1.45%.

7. Social security tips

N/A

8. Allocated tips

N/A

9. Advance EIC payment

This figure includes all advanced Earned Income Credit (EIC) payments received by certain University employees in the calendar year 2008.

10. Dependent care benefits

Dependent care reductions under the Flexible Spending Account (FSA.) This amount includes reimbursement from the dependent care reimbursement account.

11. Nonqualified plans

Includes payment of nonqualified deferred compensation included in box 1 and also boxes 3 and 5.

12. Elective deferrals

Code E-elective deferrals under a 403(b) salary reduction arrangement.
Code G-elective deferrals under a 457 salary reduction arrangement.
Code BB-designated Roth contributions under a section 403(b) plan.

13. Retirement plan

The retirement box is checked if the employee is eligible for any University of Utah paid retirement plan or the employee actually participated in a salary reduction arrangement under 403(b) or 457.

14. Other

The following items are deducted from the taxable gross and are not included in the amount located in Box 1:

• Health insurance reductions (FSA)
• Dental insurance reductions (FSA)
• Other FSA medical amounts such as health care reimbursement account (FSA)
• Parking Permit Deduction (PARK)The following items are added to the taxable gross and are included in the amount in Box 1:
• Executive Life Insurance (EXLI)
• Automobile allowance (CCAR)
• Nonqualified moving expenses (MOV)
• Taxable Tuition benefit (TUI)
• NRA legal fees (NRA)
• Gift certificates (GIFT) and other awards

15. State and employer’s state I.D. number

This is the state and state I.D. number for the employer.

16. State wages, tips, etc.

This figure includes all state taxable income from paychecks received from the University of Utah in the calendar year 2008 (December 16, 2007 thru December 15, 2008). This amount will equal box 1.

17. State Income Tax

This figure contains all State taxes withheld from University paychecks in the calendar year 2008.

18. Local wages, tips, etc.

The state of Utah does not have local wages, tips, etc.

19. Local income tax

The state of Utah does not have local income taxes.

20. Locality name

The state of Utah does not have locality taxes.