Do you have to file? Refer to the Form 1040 instructions to determine if you are required to file a tax return. Even if you do not have to file a tax return, you may be eligible for a refund if box 2 shows an amount or if you are eligible for any credit.

Earned income credit (EIC). You may be able to take the EIC for 2023 if your adjusted gross income (AGI) is less than a certain amount. The amount of the credit is based on income and family size. Workers without children could qualify for a smaller credit. You and any qualifying children must have valid social security numbers (SSNs). You cannot take the EIC if your investment income is more than the specified amount for 2023 or if income is earned for services provided while you were an inmate at a penal institution. For 2023 income limits and more information, visit www.irs.gov/eitc. Also see Pub. 596, Earned Income Credit. Any EIC that is more than your tax liability is refunded to you, but only if you file a tax return.

Clergy and religious workers. If you are not subject to social security and Medicare taxes, see Pub. 517, Social Security and Other Information for Members of the Clergy and Religious Workers.

Corrections. If your name, SSN, or address is incorrect, correct Copies B, C, and 2 and ask your employer to correct your employment record. Be sure to ask the employer to file Form W-2c, Corrected Wage and Tax Statement, with the Social Security Administration (SSA) to correct any name, SSN, or money amount error reported to the SSA on Form W-2. Be sure to get your copies of Form W-2c from your employer for all corrections made so you may file them with your tax return. If your name and SSN are correct but are not the same as shown on your social security card, you should ask for a new card that displays your correct name at any SSA office or by calling 1-800-772-1213. You also may visit the SSA at www.socialsecurity.gov.

Cost of employer-sponsored health coverage (if such cost is provided by the employer). The reporting in box 12, using code DD, of the cost of employer-sponsored health coverage is for your information only. The amount reported with code DD is not taxable.

Credit for excess taxes. If you had more than one employer in 2023 and more than $9,932.40 in social security and/or Tier 1 railroad retirement (RRTA) taxes were withheld, you may be able to claim a credit for the excess against your federal income tax. See the form 1040 instructions. If you had more than one railroad employer and more than $5,821.20 in Tier 2 RRTA tax was withheld, you also may be able to claim a refund. See the instructions for Form 843.

Box 1 – Wages, tips, other compensation

Total taxable compensation for the year, including wages, bonuses, and other taxable compensation. 

Some items that may be calculated as part of your taxable compensation include tuition waivers, relocation expenses, or gifts in excess of $25.

The following items  increase your taxable compensation include:

• Taxable Tuition
• Taxable Relocation Benefit
• Taxable Housing Benefit
• Taxable Travel Benefit
• Personal Use of University Vehicle
• Miscellaneous Taxable Benefits
• Additional Life Insurance Benefit

The following items reduce the taxable compensation: 

• Health insurance premiums for employees participating in the  UA Health Plan 
• Employee contributions to a section 403(b) salary reduction agreement, includes the Tax Deferred Annuity (TDA)
• Employee contributions to a section 457(b) salary reduction agreement, includes the Deferred Compensation Plan
• FSA Health Care
• FSA Dependent Care
• HSA

Box 2 – Federal income tax withheld 

The total amount of federal taxes withheld by UA HR for the year. 

Box 3 – Social security wages

The total amount of wages subject to the Social Security tax. 

This amount is reduced by the same items as Box 1 with the exception of the following:

• Employee contributions to a section 403(b) salary reduction agreement, includes the Tax Deferred Annuity (TDA)
• Employee contributions to a section 457(b) salary reduction agreement, includes the Deferred Compensation Plan

This amount is increased by the same items as Box 1.

Note: This box remains blank for all retirement eligible employees as indicated in Box 13 - Retirement Plan.

Box 4 – Social security tax withheld 

Social security tax withheld from compensation received in the tax year. This amount will appear on your paycheck stub as “FICA”.

Note: This box remains blank for all retirement eligible employees as indicated in Box 13 - Retirement Plan.

Box 5 – Medicare wages and tips 

The total amount of wages subject to the Medicare tax.

This amount is reduced by the same items as Box 1 with the exception of the following:

• Employee contributions to a section 403(b) salary reduction agreement, includes the Tax Deferred Annuity (TDA)
• Employee contributions to a section 457(b) salary reduction agreement, includes the Deferred Compensation Plan

This amount is increased by the same items as Box 1

Medicare tax withheld from compensation received in the tax year. This amount will appear on your paycheck stub as “Fica Medicare”.

You may be required to report this amount on Form 8959, Additional Medicare Tax. See the Form 1040 instructions to determine if you are required to complete Form 8959.

Box 6 – Medicare tax withheld

Medicare tax withheld from compensation received in the tax year. This amount will appear on your paycheck stub as “Fica Medicare”. This amount includes the 1.45% Medicare Tax withheld on all Medicare wages and tips shown in box 5, as well as the 0.9% Additional Medicare Tax on any of those Medicare wages and tips above $200,000.

Box 12

Includes the following codes:

• C – Cost of group-term life insurance over 50,000 (included in boxes 1, 3 (up to social security wage base), and 5.
• E – Elective deferrals under a section 403(b) salary reduction agreement.
• G – Elective deferrals under a section 457(b) salary reduction agreement.
• W - Elective contributions to a Health Savings Account.
• DD – Cost of employer-sponsored health coverage, including the employer and employee shares. These amounts are not taxable and are for informational purposes only. 

Box 15 – State

Records the state(s) your wages are reported to, as well as the tax identification number in that state for the University of Alaska.

Box 16 – State wages, tips, etc

Reports the total amount of taxable wages subject to state tax. There may be multiple lines if you worked in more than one state during the calendar year. This amount may differ from the amount shown in box 1.

Box 17 – State income tax 

Reports the amount of state income taxes withheld from your paychecks for the wages reported in Box 16. .