W-2 Frequently Asked Questions

When will I receive my W-2?

As of January 17, the W-2 Wage and Tax Statements are available online through MyUniverse by accessing MEMFIS-UNI Employee Self Service responsibility. The paper W-2 form will be mailed the week of January 20.

Why doesn’t the amount in the Box 1 Wages, Tips, and Other Compensation agree to the total Gross Earnings on my last payslip?

The W-2 Box 1 amount represents federal taxable wages and other compensation. This would be different than the Gross Earnings on your payslip due to items that reduce your federal taxable wages such as TIAA, IPERS, FSA Medical and Dependent Care, pretax parking permit and pretax health and dental insurance deductions.

Why doesn’t the amount in the Box 3 Social Security Wages agree to the total Gross Earnings on my last 2007 payslip?

The W-2 Box 3 amount represents taxable wages and other compensation for Social Security taxation purposes. This would be different than the payslip Gross Earnings due to items that reduce your Social Security taxable wages which are the FSA Medical and Dependent Care deductions, pretax parking permit and pretax health and dental insurance deductions. Also, the 2007 $97,500 ceiling on Social Security taxable wages limits the wages taxable for Social Security purposes. For employees earning over $97,500 this ceiling would result in an additional difference between the payslip Gross Earnings, W-2 Box 1, and W-2 Box 3 wages.

Why doesn’t the amount in the Box 5 Medicare wages and tips agree to the total Gross Earnings on my last payslip?

The W-2 Box 5 amount represents taxable wages and other compensation for Medicare taxation purposes. This would be different than the payslip Gross Earnings due to items that reduce your Social Security taxable wages which are the FSA Medical and Dependent Care deductions, pretax parking permit and pretax health and dental insurance deductions. Medicare taxable wages do not have a ceiling amount.

Why aren’t there other items reported in Box 14, Other?

The only item reported in Box 14 for 2007 is the value for personal use of a vehicle. This item is limited to individuals who have been provided with a university vehicle and used it for personal purposes. Other items that may have been reported in Box 14 in the past, such as Taxable Meals, Taxable Other and Taxable Awards that are included in Box 1 Wages are listed on your 2007 YTD payslip. If you have questions you may call Payroll at 3-6425.

The Box 13 Retirement Plan is checked for a coworker but not on mine. Why?

Box 13 Retirement Plan is checked for employees who participate in TIAA-CREF, IPERS, Met Life, Mass Mutual, and VALIC or made elective contributions to a 403(b) retirement account.

Why don’t I have any Social Security or Medicare Wages reported?

Student employees who are enrolled at least half time at UNI are exempt from Social Security and Medicare taxes. You do not have to pay additional Social Security or Medicare taxes for this on your tax return.