What is “w2 candidate only” in US?:
W2 candidate or w2 employee works under the payroll of an employer. The employer withholds taxes based on the marital status and dependents of the employee and remits different taxes to the US Government. The account managers will ask the recruiters to source w2 candidates only since the client will hire w2 candidates only. At times recruiters are confused about visa and tax term. They search for w2 visa instead of w2 tax term.
As a recruiter working in recruitment department, from the following table, you will get to know about W-2 FORM, different taxes withheld by the employers. We have extracted some important information from a 2013 w2 form sent by the employer to the employee.
W-2 statements issued by IRS contain lot of information and we are providing Important Information alone.
Important information from ACTUAL W2 FORM:
| Employee name, ssn, address | XXX |
| Employer’s name, address and Zip Code | XXX |
| Employer’s FED ID Number | XXX |
| Employee’s SSA Number | XXX |
Note: Wherever information is blank in the following table, there is no information on the w2 form we received.
| 1 | Wages, Tips, Other Compensation | 59906.33 |
| 2 | Federal Income Tax Withheld | 9364.91 |
| 3 | Social Security Wages | 59906.33 |
| 4 | Social Security Tax withheld | 3714.19 |
| 5 | Medicare Wages and Tips | 59906.33 |
| 6 | Medicare Taxes withheld | 868.64 |
| 7 | Social Security Tips | |
| 8 | Allocated Tips | |
| 9 | Empty Field (in this w2 form) | |
| 10 | Dependent Care Benefits | |
| 11 | Non-Qualified Plans | |
| 12a | C | 6.72 |
| 12B | dd | 3128.52 |
| 13 | Start emp, Ret.plan, 3rd party sick pay | |
| 14 | Other | |
| 15 | State, Employer’s state ID no | |
| 16 | State Wages, Tips, etc. | 59906.33 |
| 17 | State Income Tax | 1617.56 |
| 18 | Local Wages, tips, etc. | |
| 19 | Local Income Tax | |
| 20 | Locality Name |
Box 12A: DD MEANS: Cost of employer-sponsored health coverage. The amount reported with Code DD is not taxable.
Box 12B: C MEANS: Taxable cost of group-term life insurance over $50,000 (included in boxes 1, 3 (up to social security wage base), and 5).
2013 Earnings Summary: This information in table1, table2, table3 will be also seen in w2 form.
Table 1: The following information reflects your final 2013 pay stub plus any adjustments submitted by your employer.
Box 1, Box 2 means serial number is w2 form mentioned above.
| 1 | Gross Pay | 61060.73 | |
| 2 | Social Security Tax Withheld | 3714.9 | Box 4 of w2 |
| 3 | AZ State Income Tax | 1617.56 | Box 17 of w2 |
| 4 | Federal Income Tax Withheld | 9364.91 | Box 2 of w2 |
| 5 | Medicare Tax Withheld | 868.64 | Box 6 of w2 |
Table 2: Your Gross Pay was adjusted as follows to produce your W-2 Statement
| Wages, Tips, other compensation(Box 1 of w2) | Social Security Wages(Box 3 of w2) | Medicate Wages (Box 5 of w2) | AZ, State Wages, Tips, Etc. (Box 16 of w2) | ||
|---|---|---|---|---|---|
| 1 | Gross Pay | 61060.73 | 61060.73 | 61060.73 | 61060.73 |
| 2 | Plus GTL (c-Box 12) | 6.72 | 6.72 | 6.72 | 6.72 |
| 3 | Less Other Café 125 | 1161.12 | 1161.12 | 1161.12 | 1161.12 |
| 4 | Reported w-2 wages | 59906.33 | 59906.33 | 59906.33 | 59906.33 |
Table 3: Employee W-4 Profile. To change your Employee W-4 Profile Information, file a new W-4 with your payroll dept.
| 1 | Employee Name and Address | XXXX |
| 2 | Social Security Number | XXXX |
| 3 | Taxable Marital Status | Single |
| 4 | Exemptions/Allowances: Federal | 1 |
To know more about this topic, please reach us at AntonysTrainingandSolution@Gmail.com
I provide Training / Consultation / Solutions in US Recruitment, US HR, US H1B Visa, US L1 Visa etc.
- Sample Recruitment Video - September 4, 2021
- US IT Recruiter/Bench Sales Videos For Sale From LearnHiring.com - May 30, 2021
- Recruiter Video Course for Subscription - December 22, 2020