QUESTION 5 Annabelle is employed as an administrator for GRM Industries. She noticed that her...
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Accounting
QUESTION 5
Annabelle is employed as an administrator for GRM Industries. She noticed that her Box 1 and Box 3 amounts on her W-2 were different.
| b | Employer identification number (EIN) | 1 | Wages, tips, other compensation | 2 | Federal income tax withheld |
| c | Employer'd name, address, and ZIP code | 3 | Social security wages | 4 | Social security tax withheld |
What is a reason why the amounts in boxes 1 and 3 would be different?
| a) | Annabelle received tips, which are not subject to Social Security taxes. | |
| b) | Annabelle has contributed to a pre-tax 401(k) that reduced her taxable wages. | |
| c) | Annabelle changed her withholding allowances on her W-4. | |
| d) | Annabelle's wages were subject to a pre-tax garnishment. |
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