Form W-2vi - U.s. Virgin Islands Wage And Tax Statement - 2014 Page 5
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9Notice 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
will be credited to your social security record (used to figure your benefits).
Copies B and C; corrections. File Copy B of this form with your 2014 U.S.
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
(Also see Notice to Employee on this page.)
SSN error reported to the SSA.
Box 5. You may be required to report this amount on Form 8959, Additional
Estimated tax. If you expect to owe $1,000 or more in tax (including self-
Medicare Tax. See Form 1040 instructions to determine if you are required to
employment tax) for 2015, you may have to make estimated tax payments 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 you made a
Credit for excess social security tax. If one employer paid you wages
during 2014 and more than $7,254 in social security tax was withheld, you
deferral and received a distribution in the same calendar year, and you are or
will be age 62 by the end of the calendar year, your employer should file
can claim a refund of the excess by filing Form 1040 with the V.I. Bureau of
Form SSA-131, Employer Report of Special Wage Payments, with the Social
Internal Revenue, 6115 Estate Smith Bay, Suite 225, St. Thomas, VI 00802.
Security Administration and give you a copy.
If you had more than one employer in 2014 and more than $7,254 in social
Box 12. The following list explains the codes shown in box 12. You may
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
need this information to complete your tax return. Elective deferrals (codes
D, E, F, and S) and designated Roth contributions (codes AA, BB, and EE)
the Treasury, Internal Revenue Service Center, Austin, TX 73301-0215, USA.
under all plans are generally limited to a total of $17,500 ($12,000 if you have
However, if you are required to file Form 1040 with the United States, you
only SIMPLE plans; $20,500 for section 403(b) plans if you qualify for the 15-
must claim the excess tax as a credit on Form 1040.
year rule explained in Pub. 571). Deferrals under code G are limited to
Unreported tip income. You must file Form 4137, Social Security and
$17,500. Deferrals under code H are limited to $7,000.
Medicare Tax on Unreported Tip Income, with your income tax return to
(continued on back of Copy C)
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
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