FOR USE IN CLASS ASSIGNMENTS ONLY
c Employer's Name
     Your Class Name Goes Here
     		1 Wages, tips, other compensation

    13,164.00

 2 Federal Income Tax Withheld

      921.48
       3 Social Security     Wages

    13,164.00

 4 Social Security Tax Withheld

      552.89
b Student's social security number

           123-45-6789

 18 State Income Tax Withheld

       526.56

 19 State Disability      Insurance

       78.98
d Student's Name

           Sample Student

 This is a simplified version of FORM W2 OMB No. 1545-0008 BPR125A 10/93

SIMPLIFIED FORM W2 2017 Wage and Tax Statement

COPY B
Would be filed with the student's Federal Tax Return
Department of the Treasury - IRS
This information would be furnished to the IRS and appropriate State officials

BOX CONTENT EXPLANATIONS

1

This is the total amount of money you "earned" as a student in the class in 2017.

2

We would have taken this amount from what you earned, and paid it to the federal government instead of you. The law requires that this be done to make sure that you don't spend what you'll owe in taxes at the end of the year. This process is called WITHHOLDING.

3

This is the amount of your overall wages subject to Social Security taxes. The maximum is currently $127,200 per year.

4

We would have "withheld" this amount from your paycheck and paid part of it to the federal government to go into the SOCIAL SECURITY TRUST FUND. After paying into this fund for several years, you (and/or your family) are entitled to collect retirement and/or disability benefits when you become eligible. In addition, because you'd pay the remaining withholding in this category to the MEDICARE TRUST FUND, you will become eligible to collect MEDICARE benefits should you ever need them. As an employer, we would have to send an amount equal to your withholding for both trust funds as an additional contribution to your account.

18

This amount is withheld from your pay and sent to the state government to go toward any state income tax you'll owe at the end of the year.

19

This amount is withheld from your pay and sent to the state government's DISABILITY INSURANCE FUND, often called WORKER'S COMPENSATION. Workers injured on the job, who are paying into this fund, can draw from it to help cover their expenses while they are unable to work.