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

April 26, 2017agree Box compensation doesn’t gross earnings tips total wages

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

1 Answer

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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.