W-2
Form for Calendar Year 2002
The
University has recently mailed over
30,000 Calendar Year (CY) 2002 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 2002 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, 2002.
D.
Social security wages: this represents
the total amount of compensation paid
to you during Calendar Year 2002 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 2002 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 2002 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 2002 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 2002 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 2002 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 2002 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.
--John
Christina, Jr., Manager,
Payroll Department
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