HR BLOCK UPDATED COMPLETE
QUESTIONS AND ANSWERS PREMIUM
REVIEW SHEET
●● Definition of Ethics
Answer: the principles of right and wrong that guide an individual in
making decisions
●● Definition of Wages
Answer: Wages shown on Form W-2 are not reduced by any withholding
for taxes, union dues, and other items. Taxable wages may be reduced,
however, by certain elective salary reductions and deferrals, such as
those to a §401(k) retirement plan.
●● Reason employers issue 2- W2 forms
Answer: Operating on a fiscal year.
Using an accrual accounting system.
The employee worked in more than one state.
The company changes names or ownership.
●● Incorrect W2
, Answer: If the taxpayer believes a Form W-2 is incorrect, they should
discuss the matter with the employer who issued the document and
request that the employer issue a Form W-2C (corrected).
The employer should update their records and send the correct social
security information to the Social Security Administration.
●● Reasons for multiple W2 Forms
Answer: Multiple jobs
Changed jobs
Married couple filing joint
Note: Regardless of the number of Forms W-2, the sum of all of them is
entered on Form 1040, page 1, line 1.
●● W2 Form A - F | What is a EIN?
Answer: Employers Tax ID #
●● W2 Form A - F | What is Box D- Control Number
Answer: This space is for the employer's convenience. a number
assigned by the company's payroll processing software. It may contain
an entry, but it has no tax consequence.
●● Box 12 | What are codes A,B,M,N & where do they go?
QUESTIONS AND ANSWERS PREMIUM
REVIEW SHEET
●● Definition of Ethics
Answer: the principles of right and wrong that guide an individual in
making decisions
●● Definition of Wages
Answer: Wages shown on Form W-2 are not reduced by any withholding
for taxes, union dues, and other items. Taxable wages may be reduced,
however, by certain elective salary reductions and deferrals, such as
those to a §401(k) retirement plan.
●● Reason employers issue 2- W2 forms
Answer: Operating on a fiscal year.
Using an accrual accounting system.
The employee worked in more than one state.
The company changes names or ownership.
●● Incorrect W2
, Answer: If the taxpayer believes a Form W-2 is incorrect, they should
discuss the matter with the employer who issued the document and
request that the employer issue a Form W-2C (corrected).
The employer should update their records and send the correct social
security information to the Social Security Administration.
●● Reasons for multiple W2 Forms
Answer: Multiple jobs
Changed jobs
Married couple filing joint
Note: Regardless of the number of Forms W-2, the sum of all of them is
entered on Form 1040, page 1, line 1.
●● W2 Form A - F | What is a EIN?
Answer: Employers Tax ID #
●● W2 Form A - F | What is Box D- Control Number
Answer: This space is for the employer's convenience. a number
assigned by the company's payroll processing software. It may contain
an entry, but it has no tax consequence.
●● Box 12 | What are codes A,B,M,N & where do they go?
