What is a W2 form in US | W2 Candidates

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, addressXXX
Employer’s name, address and Zip CodeXXX
Employer’s FED ID NumberXXX
Employee’s SSA NumberXXX

Note: Wherever information is blank in the following table, there is no information on the w2 form we received.

1Wages, Tips, Other Compensation59906.33
2Federal Income Tax Withheld9364.91
3Social Security Wages59906.33
4Social Security Tax withheld3714.19
5Medicare Wages and Tips59906.33
6Medicare Taxes withheld868.64
7Social Security Tips
8Allocated Tips
9 Empty Field (in this w2 form)
10Dependent Care Benefits
11Non-Qualified Plans
13Start emp, Ret.plan, 3rd party sick pay
15State, Employer’s state ID no
16State Wages, Tips, etc.59906.33
17State Income Tax1617.56
18Local Wages, tips, etc.
19Local Income Tax
20Locality 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.

1Gross Pay61060.73
2Social Security Tax Withheld3714.9Box 4 of w2
3AZ State Income Tax1617.56Box 17 of w2
4Federal Income Tax Withheld9364.91Box 2 of w2
5Medicare Tax Withheld868.64Box 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)
1Gross Pay61060.7361060.7361060.7361060.73
2Plus GTL (c-Box 12)6.726.726.726.72
3Less Other Café 1251161.121161.121161.121161.12
4Reported w-2 wages59906.3359906.3359906.3359906.33

Table 3: Employee W-4 Profile. To change your Employee W-4 Profile Information, file a new W-4 with your payroll dept.

1Employee Name and AddressXXXX
2Social Security NumberXXXX
3Taxable Marital StatusSingle

To know more about this topic, please reach us at AntonysTrainingandSolution@Gmail.com


Leave a Reply

Your email address will not be published. Required fields are marked *