Form W-2vi - U.s. Virgin Islands Wage And Tax Statement - 2012 Page 5

ADVERTISEMENT

Notice to Employee
Refund. Even if you do not have to file a tax return, you should file to get a
Unreported tip income. Use Form 4137 to figure the social security and
refund if box 2 shows VI income tax withheld or if you can take the earned
Medicare tax owed on tips you did not report to your employer. Enter this
income credit.
amount on the wages line of your tax return. (Form 1040-SS filers, see the
instructions for Form 1040-SS, Part I, line 5.) By filing this form, your social
Copies B and C; corrections. File Copy B of this form with your 2012 U.S.
security tips will be credited to your social security record (used to figure
Virgin Islands income tax return. Keep Copy C for your records. If your name,
your benefits).
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
(Also see the Instructions for Employee on this page and the back of Copy C.)
your employer to file Form W-2c, Corrected Wage and Tax Statement, with
Instructions for Employee
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-
employment tax) for 2013, you may have to make estimated tax payments to
Box 11. This amount is (a) reported in box 1 if it is a distribution made to you
the U.S. Internal Revenue Service. Use Form 1040-ES, Estimated Tax for
from a nonqualified deferred compensation or nongovernmental section
Individuals.
457(b) plan or (b) included in box 3 and/or 5 if it is a prior year deferral under
a nonqualified or section 457(b) plan that became taxable for social security
Clergy and religious workers. If you are not subject to social security and
and Medicare taxes this year because there is no longer a substantial risk of
Medicare taxes, see Pub. 517, Social Security and Other Information for
forfeiture of your right to the deferred amount.
Members of the Clergy and Religious Workers.
Box 12. The following list explains the codes shown in box 12. You may
Cost of employer-sponsored health coverage (if such cost is provided
need this information to complete your tax return. Elective deferrals (codes
by the employer). The reporting in Box 12, using Code DD, of the cost of
D, E, F, and S) and designated Roth contributions (codes AA, BB, and EE)
employer-sponsored health coverage is for your information only. The
under all plans are generally limited to a total of $17,000 ($11,500 if you have
amount reported with code DD is not taxable.
only SIMPLE plans; $20,000 for section 403(b) plans if you qualify for the 15-
Credit for excess social security tax. If one employer paid you wages
year rule explained in Pub. 571). Deferrals under code G are limited to
during 2012 and more than $4,624.20 in social security tax was withheld, you
$17,000. Deferrals under code H are limited to $7,000.
can claim a refund of the excess by filing Form 1040 with the V.I. Bureau of
(continued on back of Copy C)
Internal Revenue, 6115 Estate Smith Bay, Suite 225, St. Thomas, VI 00802.
If you had more than one employer in 2012 and more than $4,624.20 in
social security tax was withheld, you can have the excess refunded by filing
Form 843, Claim for Refund and Request for Abatement, with the
Department of the Treasury, Internal Revenue Service Center, Austin, TX
73301-0215, USA. However, if you are required to file Form 1040 with the
United States, you must claim the excess tax as a credit on Form 1040.

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Financial
Go
Page of 9