FINE PRINT: W-2 Form
In this activity, you will explore a W-2 Form in more detail to understand its various components. Then, you will answer
questions using the sample W-2 Form below.
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Part I: Read The Fine Print
Analyze this sample W-2 and answer the questions that follow.
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1. What were Lily’s gross wages for this period?
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a. $14,450
2. Based on the W-2 form provided, what was the largest withholding?
a. $1,080.5- Federal Income Tax
www.ngpf.org
Last updated: 1/21/20
This study source was downloaded by 100000828489561 from CourseHero.com on 09-23-2021 00:35:27 GMT -05:00
https://www.coursehero.com/file/78570434/-W-2-Form-Activity/
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3. What was the total amount deducted from Lily’s pay for Federal, State, and Local income tax?
a. $1,783.33
4. As Lily files her taxes, she learns that her federal total tax due ends up being $244. According to her Federal
income tax withheld, how much of a tax refund can she expect back?
a.
$836.50
5. What is the employer’s State ID number?
00122234001
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6. What is the employer’s identification number (EIN)?
a.
987654321
7. How much did Lily pay in local income taxes?
a.
$234.09
8. How much did Lily receive in allocated tips?
a.
$0
9. In what box can you find the amount of social security tax that has been withheld?
a.
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10. What will Lily use this W-2 for?
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To file her taxes/ fill out 1040 form
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a.
www.ngpf.org
Last updated: 1/21/20
This study source was downloaded by 100000828489561 from CourseHero.com on 09-23-2021 00:35:27 GMT -05:00
https://www.coursehero.com/file/78570434/-W-2-Form-Activity/
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