Form W-2vi - U.s. Virgin Islands Wage And Tax Statement

Notice to Employee

Do you have to file? Refer to the Form 1040 Instructions to determine if you

the allocated tips. Use Form 4137 to figure the social security and Medicare

are required to file a tax return. Even if you do not have to file a tax return,

tax owed on tips you did not report to your employer. Enter this amount on

you may be eligible for a refund if box 2 shows an amount or if you are

the wages line of your tax return. (Form 1040-SS filers, see the instructions

eligible for any credit.

for Form 1040-SS, Part I, line 5.) By filing this form, your social security tips

Copies B and C; corrections. File Copy B of this form with your 2013 U.S.

will be credited to your social security record (used to figure your benefits).

Virgin Islands income tax return. Keep Copy C for your records. If your name,

(Also see the Instructions for Employee on this page and the back of Copy C.)

social security number (SSN), or address is incorrect, correct Copies B and C

and ask your employer to correct your employment record. Be sure to ask

Instructions for Employee

your employer to file Form W-2c, Corrected Wage and Tax Statement, with

the Social Security Administration (SSA) to correct any name, amount, or

SSN error reported to the SSA.

(Also see Notice to Employee on this page.)

Estimated tax. If you expect to owe $1,000 or more in tax (including self-

Box 5. This amount may be required to be entered on Form 8959. See Form

employment tax) for 2014, you may have to make estimated tax payments to

1040 instructions to determine if you are required to complete Form 8959.

the U.S. Internal Revenue Service. Use Form 1040-ES, Estimated Tax for

Box 6. This amount includes the 1.45% Medicare Tax withheld on all

Individuals.

Medicare wages and tips shown in Box 5, as well as the 0.9% Additional

Clergy and religious workers. If you are not subject to social security and

Medicare Tax on any of those Medicare wages and tips above $200,000.

Medicare taxes, see Pub. 517, Social Security and Other Information for

Box 11. This amount is (a) reported in box 1 if it is a distribution made to you

Members of the Clergy and Religious Workers.

from a nonqualified deferred compensation or nongovernmental section

Cost of employer-sponsored health coverage (if such cost is provided

457(b) plan or (b) included in box 3 and/or 5 if it is a prior year deferral under

by the employer). The reporting in box 12, using code DD, of the cost of

a nonqualified or section 457(b) plan that became taxable for social security

employer-sponsored health coverage is for your information only. The

and Medicare taxes this year because there is no longer a substantial risk of

amount reported with code DD is not taxable.

forfeiture of your right to the deferred amount. This box should not be used if

you had a deferral and a distribution in the same calendar year. If this

Credit for excess social security tax. If one employer paid you wages

happens and you are or will be age 62 by the end of the calendar year, your

during 2013 and more than $7,049.40 in social security tax was withheld, you

employer should file Form SSA-131 with the Social Security Administration

can claim a refund of the excess by filing Form 1040 with the V.I. Bureau of

and give you a copy.

Internal Revenue, 6115 Estate Smith Bay, Suite 225, St. Thomas, VI 00802.

Box 12. The following list explains the codes shown in box 12. You may

If you had more than one employer in 2013 and more than $7,049.40 in

need this information to complete your tax return. Elective deferrals (codes

social security tax was withheld, you can have the excess refunded by filing

D, E, F, and S) and designated Roth contributions (codes AA, BB, and EE)

Form 843, Claim for Refund and Request for Abatement, with the

under all plans are generally limited to a total of $17,500 ($12,000 if you have

Department of the Treasury, Internal Revenue Service Center, Austin, TX

only SIMPLE plans; $20,500 for section 403(b) plans if you qualify for the 15-

73301-0215, USA. However, if you are required to file Form 1040 with the

year rule explained in Pub. 571). Deferrals under code G are limited to

United States, you must claim the excess tax as a credit on Form 1040.

$17,500. Deferrals under code H are limited to $7,000.

Unreported tip income. You must file Form 4137, Social Security and

(continued on back of Copy C)

Medicare Tax on Unreported Tip Income, with your income tax return to

report at least the allocated tip amount unless you can prove a smaller

amount with adequate records. If you have records that show the actual

amount of tips you received, report that amount even if it is more or less than

Form W-2vi - U.s. Virgin Islands Wage And Tax Statement - 2013 Page 5

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