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    mmatth14's Avatar
    mmatth14 Posts: 2, Reputation: 1
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    #1

    Feb 2, 2013, 08:52 AM
    I have 2 w2 from same employer
    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's Avatar
    mmatth14 Posts: 2, Reputation: 1
    New Member
     
    #2

    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #3

    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.

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