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We would be delighted to help you with your tax return and refund process. You may reach us by any of the following means.

BOOK AN APPOINTMENT

Please complete the following form for booking an appointmet with us. In case of urgent requests, please give us a call at the phone number mentioned above.

FREQUENTLY ASKED QUESTIONS

01. Why do the wages reported on my W-2 not match my true earnings?

Due to government regulations, pre-tax deductions, retirement, and annuity contributions deducted from your paycheck may not be included in wages subject to taxes. If you have none of these deductions or contributions on your paycheck, your W-2 wages will equal your true gross wages.

02. Why are there four wage amounts listed on my W-2 form and why are they different amounts?

Government regulations determine how each type of wages are reported and taxed by the various federal and state agencies. Your W-2 will show one or more of the following types of wages:

Box 1 – Wages, Tips, Other Compensation

Wages subject to Federal income tax.

Box 3 – Social Security Wages

Wages that are subject to Social Security tax.

Box 5 – Medicare Wages and Tips

Wages subject to Medicare taxes.

Your gross wages for Social Security and Medicare are reduced by “pre-tax” payroll deductions for health insurance, dental insurance, vision insurance, accidental death and disability insurance, NC Flex (dependent care and medical), Health Care Plus and also for pre-tax parking. If your Social Security wages exceeded $118,500; Social Security tax was withheld on the first $118,500 only since this is the maximum amount from which social security taxes could be withheld for 2015 & 2016. Medicare has no maximum.

Box 16 – State Wages, Tips, Etc.

Wages subject to State income tax.

Your gross wages for federal and state taxes are reduced by the same “pre-tax” payroll deductions as Social Security and Medicare. In addition, deductions for retirement and deferred compensation (annuities) contributions are also deducted.

03. What should I do if the address listed for me on my W-2 is incorrect?

It is okay to submit a W-2 with your tax return in which the address printed on the W-2 does not reflect your home address. Therefore, Payroll Services does not re-issue or issue an amended form (i.e, W-2C – Corrected Wage and Tax Statement) due to an incorrect address. However, we recommend that you contact your HR Officer to have your address corrected.

04. Will I receive any health care tax forms in 2017 to help me complete my tax return?

In early 2017, you may receive one or more forms providing information about the health care coverage that you had or were offered during the previous year. Much like Form W-2 and Form 1099, which include information about the income you received, these health care forms provide information that you may need when you file your individual income tax return. Also like Forms W-2 and 1099, these forms will be provided to the IRS by the entity that provides the form to you.

The forms are:

Form 1095-A, Health Insurance Marketplace Statement. The Health Insurance Marketplace (Marketplace) sends this form to individuals who enrolled in coverage there, with information about the coverage, who was covered, and when.

Form 1095-B, Health Coverage. Health insurance providers (for example, health insurance companies) send this form to individuals they cover, with information about who was covered and when.

Form 1095-C, Employer-Provided Health Insurance Offer and Coverage. Certain employers send this form to certain employees, with information about what coverage the employer offered. Employers that offer health coverage referred to as “self-insured coverage” send this form to individuals they cover, with information about who was covered and when.

05. How long does it take IRS to process my tax refund?

If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in less than three weeks, even faster when you choose direct deposit.

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