W-2 Form for Calendar Year 2003
The
University has recently mailed over 30,000 Calendar Year (CY)
2003 W-2 Forms to our employees' home addresses as they appear
on the Payroll File (Employee Database).
An
explanation of the contents of the various boxes on the W-2
form is as follows:
A.
Wages, tips, other compensation: this represents the
total amount of Federal Taxable compensation paid or imputed
to you during Calendar Year 2003 through the University Payroll
System. This amount includes:
a. The value of your taxable graduate
and/or professional tuition benefits, if you, your spouse and/or
your dependent children have received such benefits;
b. The value of Group Life Insurance coverage for amounts greater than $50,000.
The premium payments for this excess coverage, if any, have
been included as imputed income (see Excess Insurance Premium
- below);
Amounts that are excluded
from this amount are:
c. Tax deferred annuity contributions
(i.e., TIAA/CREF);
d. Health, Dental and Vision Care insurance premiums that have been sheltered;
e. Amounts voluntarily contributed to
a dependent care or a medical reimbursement account. Also included
this year are fees for Parking, Transit Checks, TransPass and
the Van Pool.
B.
Federal income tax withheld: this represents the amount
of Federal Income tax which was withheld from your earnings
during the year and paid to the Internal Revenue Service,
on your behalf, by the University.
C.
Dependent care benefits: this represents the total amount
which you have voluntarily "sheltered" for dependent care
expenses, regardless of whether you have been reimbursed
by the University for the expenses associated with this "shelter" as
of December 31, 2003.
D.
Social security wages: this represents the total amount
of compensation paid to you during Calendar Year 2003
which was subject to Social Security (FICA/OASDI) tax, including
all of your tax deferred annuity contributions and excess
life insurance premiums, if applicable, but excluding health
and dental insurance premiums and any voluntary dependent
care or medical reimbursement account contributions which
you have "sheltered".
E.
Social security tax withheld: this represents the total
amount of Social Security (FICA/OASDI) tax which was withheld
from your earnings during the year and paid to the Social
Security Administration, on your behalf, by the University.
F.
Other: If you have received certain fringe benefits,
the value of such benefits is shown here. These benefits
include the value of taxable graduate and/or professional
tuition benefits and other benefits relating to imputed income.
If you have received any of these benefits the University
has recently advised you, individually and personally, concerning
their taxability; please refer to those communications specifically.
G.
Medicare wages and tips: this represents the total amount
of compensation paid to you during Calendar Year 2003 which
was subject to Medicare tax, including all of your tax deferred
annuity contributions and excess life insurance premiums,
if applicable, but excluding health and dental insurance
premiums and any voluntary dependent care or medical reimbursement
account contributions which you have "sheltered".
H.
Medicare tax withheld: this represents the total amount
of Medicare tax which was withheld from your earnings during
the year and paid to the Social Security Administration,
on your behalf, by the University.
I.
Excess insurance premium: the Internal Revenue Service
requires that the premiums paid by an employer for group
life insurance coverage in excess of $50,000 be imputed as
income to the employee. The amount, which appears in Box
12 and labeled (C), is the value of the premiums paid for
this excess insurance coverage. This amount is based on an
Internal Revenue Service (IRS) table, which identifies premiums
for different age groups.
J.
Tax deferred annuity contributions: this represents the
total amount of contributions made by an employee to a retirement
plan on a tax-deferred basis. The amount is shown in Box
12 and labeled (E on the actual form).
K.
Excludable moving expense reimbursements: this represents
the nontaxable moving expenditures that were paid to you
as a reimbursement. The amount is shown in Box 12 and labeled
(P). If any reimbursements or third party payments were deemed
to be taxable income you were notified of these amounts under
separate cover.
L.
Employee's social security number: this is the number
that the Federal and State Governments use to identify you
with the tax returns that you file, so please review it for
accuracy. If the number is incorrect, then the University
Payroll system is also inaccurate and you should contact
the Payroll Office, immediately, before you file your returns.
M.
State wages, tips, etc.: this represents the total amount
of compensation paid to you during Calendar Year 2003 which
was subject to Pennsylvania State Income Tax, including all
of your deferred annuity contributions, if applicable, but
excluding health and dental insurance premiums and any voluntary
medical reimbursement account contributions which you have "sheltered".
N.
State income tax: this represents the total amount of
Pennsylvania State Income Tax withheld during Calendar Year
2003 and paid to the Commonwealth of Pennsylvania, on your
behalf, by the University. If you do not live in Pennsylvania
no amount will be reflected in this box. If you lived a portion
of the year in the Commonwealth of Pennsylvania, and another
portion in New Jersey or Delaware, you will receive two W-2
forms, one showing the state taxes paid to the Commonwealth
of Pennsylvania, the other showing no taxes paid to the other
jurisdiction.
O.
Local wages, tips, etc.: this represents the total amount
of compensation paid to you during Calendar Year 2003 which
was subject to Philadelphia City Wage Tax, including all
of your deferred annuity contributions.
P.
Local income tax: this represents the total amount of
Philadelphia City Wage Tax withheld from your earnings during
Calendar Year 2003 and paid to the City of Philadelphia,
on your behalf, by the University.
When
you receive your W-2 form, please review it immediately to
ensure that your name is spelled correctly and that your Social
Security number is correct. If you feel that any information
on your W-2 is incorrect, review your calculations carefully
and compare the information on the form with your final 2003
pay stub.
Q.
Elective deferrals and employer contributions to section
457(b) deferred compensation plan for employees of state
and local governments or tax-exempt organizations: this
amount is shown in box 12 and labeled (G).
If
you have availed yourself of certain taxable benefits please
review any additional information which was provided to you,
under separate cover, concerning these benefits and their impact
on your tax status. If you still believe that your W-2 is in
error, please contact the W-2 Office at (215) 573-3277 or write
to W-2 Office, Room 310, Franklin Building/6284.
You
should have received, via the U.S. Postal Service, your Federal
and State Income Tax Forms and related instructions for filing.
Federal Tax forms are available at the Internal Revenue Service,
600 Arch Street, Philadelphia, or by calling (800) TAX-FORM.
Pennsylvania Income Tax forms are available at the State Office
Building, 1400 Spring Garden Street, Philadelphia, or by calling
(800) 362-2050. Federal and State forms are also available
at many libraries and U.S. Post offices.
--Maryann
Piccolo, Associate Comptroller