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mmatth14
Feb 2, 2013, 08:52 AM
I live in Florida, and my employer switched payroll companies towards the middle of last year leaving me with two W2 forms.
I have a couple of concerns:

My old payroll company gave me a W2 with box 4 equalling an amount different than what would be 6.2% of my total wage income. It was quite a bit less. And, they have an amount of money listen in Box 16.
My newer payroll company gave me a W2 with the same issue for box 4, and has left box 16 blank.

I work in a restaurant, and do collect tips, if that makes a difference.

However, if I were to do the calculation myself instead of sending both of my W2 forms back to be fixed, would there be a chance I could be audited for the information being different than what is stated on my W2's?

Thank you.

mmatth14
Feb 2, 2013, 09:04 AM
An addition to my question: Boxes 1 and 3 are NOT the same, as I am under the impession that they are supposed to be.

AtlantaTaxExpert
Feb 2, 2013, 09:08 PM
First, the Social Security rate for 2012 was 4.2%, not 6.2%. It went back UP to 6.2% starting on 1 January 2013.

Second, box #1 wages are subject to pre-tax debits like medical and dental insurance premiums, 401K contributions, and a number of other debits that does NOT affect the box #3 figure.

Third, tipping DOES affect both figures, but differently.