My wages on my W-2 do not match my final check stub of the year. What is the problem?
The W-2 reflects taxable earnings while the check stubs reflect total earnings. To convert from total earnings to taxable earnings, you need to subtract the nontaxable deductions, including parking deductions, FSA deductions (medical and dental deductions, flexible spending account deductions, and dependent care deductions) and retirement deductions (403(b), 457). These deductions are itemized in boxes 12, 13, and 14 of the W-2. Your Form W-2 is a summary of the taxable earnings received in a calendar year. For the calendar year 2010, paychecks for pay period ending 12/31/09 and 12/15/10 are included on the 2010 W-2.
