This document is only meant for definition purposes only of pay and wages reported on this form.

Instructions

Box 1 .  

• Wages, tips, and other compensation in relation to your federal withholding.  This amount is your annual salary, supplemental pay, taxable fringe benefits, and other financial compensation, minus your pretax insurance (health, dental, vision, flex, dependent care, and/or HMO, POS or PPO) and retirement plan contributions. (For those with a ministerial housing allowance, this does not include the amount you designated for your Ministerial Housing Allowance.)  

Box 2 .   

• This is the amount of federal withholding tax paid for the present tax year.  This amount is determined by your elections on your Form W-4 in relation to the IRS tax tables.   You can reference IRS Publication 15, Circular E, Employer’s Tax Guide (www.irs.gov).

Box 3 & 5.

• Social Security wages.  This amount is your annual salary, supplemental pay, taxable fringe benefits, and other financial compensation, minus your pretax insurance (such as health, dental, vision, flex, dependent care, and/or HMO, POS or PPO).  There is a limit of $97,500 for earnings subject to Social Security taxation for the 2007 tax year.  Reference www.socialsecurity.gov

Box 4 .   

• This is the amount of social security tax withheld from your earnings, Old Age, Survivors, and Disability Insurance (OASDI).  This amount is determined by your wages minus all pretax insurance (benefits) multiplied by the factor of 6.2%.  The limit for 2007 is $6,045.  

Box 6 .   

• This is the amount of social security tax withheld from your earnings, Medicare.  This amount is determined by your Medicare wages multiplied by the factor of 1.45%.  There is no earnings or taxation limit on this payroll tax item.  

Box 9 .    

• Those employees that completed a Form W-5 to be eligible for advanced Earned Income Credit on their regular payroll processing will have an amount here.  A new form must be completed in January of every new tax year. 

Box 10 .  

• This amount is the total dependent care benefits that your employer paid to you or incurred on your behalf [including amounts from a section 125 (cafeteria) Plan].  Any amount over $5,000 also is included in box 1.  You must complete Schedule 2 (Form 1040A) or Form 2441, Child and Dependent Care Expenses, to compute any taxable and nontaxable amounts.

Box 11 .  

• This amount is:  (a) reported in box 1 if it is a distribution made to you from a nonqualified deferred compensation or nongovernmental section 457(b) plan or (b) included in box 3 and/or plan that became taxable for social security and Medicare taxes this year because there is no longer a substantial risk of forfeiture of your right to the deferred amount.

Box 12 .

• D-Elective deferrals to a section 401(k) cash or deferred arrangement.  Also includes deferrals under a SIMPLE retirement account that is part of a section 401(k) arrangement.
• E-Elective deferrals under section 403(b) salary reduction agreement.
• G-Elective deferrals and employer contributions (including non-elective deferrals) to a section 457(b) deferred compensation plan.

Box 13 .  

• If the “Retirement plan” box is checked, special limits may apply to the amount of traditional IRA contributions that you may deduct.  ACU's mandatory plan is designated as an "X."  No amount is to be reported here.

Box 14 .  

• Special notations such as Ministerial Housing Allowance.

Box 15 , 16, & 17.  

• Information for this location are for university employees that are working in a state that requires state income/payroll taxes to be deducted for payroll payments.