Information regarding your form W-2

If you have someone prepare your tax return for you, provide them with the information contained herein. They will find the information helpful.

 

Your Wage and Tax Statement, Form W-2, reflects your reportable salary and the income tax withheld from salary payments issued to you by the Texas Cooperative Extension .

Gross pay, awards, some travel reimbursements and longevity payments are added to create the Adjusted Gross Income (AGI) figure in Box #1. There are other factors that decrease the AGI. They include:

Teacher Retirement System and Optional Retirement Program withholding. If you are a participant in one of these there will be an "X" in box 13 under Retirement Plan.

Tax Sheltered Annuity (TSA) provided by IRS section 403(b) (also called Tax Deferred Annuity). Also the Deferred Compensation Plan (DCP) provided by IRS section 457. Withholding for both plans is elective. In Box #12 the letter "E" will indicate the amount contributed to TSA and the letter "G" will indicate the amount contributed to DCP. Box #12 is used by the IRS to determine if these plans have been over funded. Optional Retirement Program, also provided by section 403(b) contributions are not reported in Box #12 because they are considered "mandatory" contributions.

that part of your Group Hospitalization, Dental, Accidental Death and Dismemberment and Vision premiums you paid if you have elected to participate in the Tax Saver program.

the amounts you authorized to be withheld for health care and dependent care Spending Accounts including the fee. Keep in mind that this is the amount withheld and not the amount you have been reimbursed. The amount withheld for dependent care (but not the fees) will appear in Box #10.

 

For those employees participating in the Civil Service Retirement System (CSRS) Box #6 indicates the deduction for Medicare and Box #5 indicates wages subject to Medicare withholding. For CSRS county agents the amount in Box #5 includes county salary, whereas Box #1 does not. For those county agents covered by social security, the figures in Boxes #3 and #4 are based on salaries distributed by TCE. You should receive a form W-2 indicating the Social Security deductions and wages from your county covering the county salary.

If the residence address on Form W-2 is incorrect, please draw a line through the incorrect portion and write in the correct information prior to submitting the form with your annual tax return. Also, please notify the Agricultural Program Payroll Office so that future Wage and Tax Statements and other benefit information will be sent to the correct residence address. Do not return Form W-2 to the payroll office for address correction.

Finally, this would be an appropriate time to make sure the W-4 now in effect is having the correct amount withheld. You may submit a new W-4 to make any changes. W-4 forms are available from the payroll office or the IRS web site: http://www.irs.ustreas.gov/formspubs/index.html W-4's should be returned to the Ag Program payroll office. Your current W-4 information is printed on your most current payroll earnings statement (check stub).

Should you have any questions regarding your Form W-2, please call the Ag Program payroll at (979) 845-2361.