What is a W2 form in US | W2 Candidates

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5 years ago

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

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I am Antony Raj, Founder and Trainer of LearnHiring.com and LearnDataModeling.com!
I provide Training / Consultation / Solutions in US Recruitment, US HR, US H1B Visa, US L1 Visa etc.