Why doesn’t the amount in the Box 3 Social Security Wages agree to the total Gross Earnings on my last 2008 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 2008 $102,000 ceiling on Social Security taxable wages limits the wages taxable for Social Security purposes. For employees earning over $102,000 this ceiling would result in an additional difference between the payslip Gross Earnings, W-2 Box 1, and W-2 Box 3 wages.
Related Questions
- Why doesn’t the amount in the Box 1 Wages, Tips, and Other Compensation agree to the total Gross Earnings on my last payslip?
- Why doesn’t the amount in the Box 3 Social Security Wages agree to the total Gross Earnings on my last 2008 payslip?
- Why doesn’t the amount in the Box 5 Medicare wages and tips agree to the total Gross Earnings on my last payslip?
