What is box 1 & Box 2?

Box 2 shows how much federal income tax you withheld from Box 1 wages throughout the year. The numbers in Box 1 and Box 2 help determine an employee’s tax refund or liability. Most benefits that are exempt from federal income tax are not exempt from Social Security tax.

What should be included in a box 1 tax return?

Box 1—wages, tips, other compensation—contains an employee’s total wages subject to federal income tax. Do not include pre-tax benefits in Box 1. Per the IRS, list the following taxable wages, tips, and other compensation in Box 1: Total wages, bonuses, prizes, and awards you paid an employee

What is a box and 1 defense?

The box and 1 defense is a junk defense commonly used against teams with one great offensive player surrounded by players of less offensive talent. Quick Note: For those that aren’t familiar with the term, a ‘junk defense’ is a defense that combines man-to-man and zone principles together.

What is the difference between Box 1 and Box 13?

The value in Box 1 is lower than the values in Boxes 3 and 5. You can also see that there is a checkmark in Box 13. This example Form W-2 shows that the employee contributed to a pre-tax retirement plan, reducing their taxable wages.