Form W-2 is generally used to report wage income not covered by treaty benefits.
It is sent out by the College at the end of January. The last date the form can be sent out is January 31. The College first uploads Form W-2 electronically onto a secure website called BannerWeb and then mails Form W-2 via postal mail to those individuals who did not give consent for electronic posting.
If you receive Form W-2, you have to file a U.S. Federal Income tax return if you made more than $3,500 (for 2008) in Box 2 and possibly also a State income tax return. For more information on how to file a tax return, see here.
The following income types are generally reported by the College / Institute (for more information on the types of payments see the Payment section of this website):
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Box 1: Wages, tips, taxable fringe benefits, unsubstantiated business expense reimbursements, group-term life insurance over $50,000, non-qualified moving expense reimbursements, prizes and awards paid to employees, etc., not covered by treaty benefits and thus taxable by federal income tax;
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Box 2: Federal income tax withheld
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Box 3 and 5: Wages, tips (only for box 5), taxable fringe benefits, unsubstantiated business expense reimbursements, group-term life insurance over $50,000, non-qualified moving expense reimbursements, prizes and awards paid to employees, etc., taxed for Social Security and Medicare tax. Some non-resident aliens exempt from federal taxes are not exempt from Social Security and Medicare Taxes. In such a case, a Form W-2 just with Social Security and Medicare tax information would be issued;
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Box 4: Social security tax withheld;
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Box 6: Medicare tax withheld;
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Box 7: Social security tips;
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Box 10: Dependent care benefits (maximum $5,000);
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Box 12 Code C: Taxable cost of coverage of group-term life insurance over $50,000;
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Box 12 Code E: Elective deferrals under a section 403(b) salary reduction agreement;
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Box 12 Code P: Qualified moving expense reimbursements paid directly to employee;
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Box 14 RECR: Taxable cost of coverage of ski pass or golf membership (taxable fringe benefit included in boxes 1, 3, and 5);
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Box 14 RET: Required employee contributions to pension plan;
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Box 16: Wages, tips, taxable fringe benefits, unsubstantiated business expense reimbursements, group-term life insurance over $50,000, non-qualified moving expense reimbursements, prizes and awards paid to employees, etc., subject to State income tax. Most states follow federal rules covering treaty benefits. In California however, all non-resident aliens with wage income will receive Form W-2 as California does not follow the federal tax treaty rules and thus all state wages are subject to reporting on Form W-2.
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Note: Box 3 + Box 7 = no more a maximum amount, set every year by the Social Security Administration.
Last Updated April 23, 2009