Reporting Aflac on W2s
How should a deduction for Aflac (both Pre-Tax and Post-Tax) affect the W2 statement for an individual? I need an answer ASAP on this please! Thanks!!
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aU9T1urHyr4yUOacwZ5xHE
01/23/12 3:01pm PST
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CPAMSTaxation
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01/23/12 3:59pm PST
A pretax deduction under a cafeteria plan, meeting the requirementss specified in Sec. 125(d) of the Internal Revenue Code, reduces Boxes 1, 2, 3, 4, 5 and 6 of Form W-2. After-tax deductions do not reduce any boxes on W-2.
Pappu Khera, CPA, M.S. Taxation
Odenton, MD
Odenton, MD
01/23/13 12:44pm PST
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My pretax dedcution is coming through correctly, but my After Tax AFLAC is reducing the amounts in boxes 2, 3, 5, and 16 of my W2. I have double checked how everything is set up for this payroll item. I have selected "none" for Tax Tracking and selected no taxes on the screen where it asks which taxes it will affect. Any ideas?
SuzieQFL
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01/23/12 6:52pm PST
This type of thing should be researched when the payroll item is added. You want to make sure it doesn't affect your 941 reports you file during the year.
