W2's

MattM

Well-Known Member
How noisy are some of you with your coworkers w2s as far as deductions (stocks/Ira/401ks) or even their withholding status?

I try/have tried for years to get some of my coworkers to look into the retirement saving tax credit. Some were using this as their only job (they worked here for the benefits) so they were well below the $20,000 threshold. But nope, few tend to even use the pretax 401k benefits or claiming exempt. They don’t see the tax refund as an overpayment, they see it as free money. I’ve given up trying to help others.

As far as being noisy, how many drivers do you think buy stocks, use the pretax 401k system to lower their gross income versus those who get huge ‘refunds’ and waste it on junk come February because they see it as free money?
 

MattM

Well-Known Member
Man. You gave the feds an interest free $12,000 loan?
How would a driver overwithhold this amount of money? Are they having $200 extra withheld every paycheck? Having kids should yield a child tax credit. But usually you’re just getting back what you overpaid. $12k is a lot to be overpaid on.

He could put $200 into a pre tax 401k and lowered your agi by $10,400, and saw an immediate $1,000 tax break. Instead they’re happy about a $12,000 overpayment? Am I reading this right?
 

Commercial Inside Release

Well-Known Member
How would a driver overwithhold this amount of money?
Probably has a 1 (or maybe 0 if it's still possible,) on his W-4 and has several kids while also being head of household.

UPS rarely puts a paper W-4 in front of drivers, the form is handled electronically in India by clueless people... Or, he got married and started a family without modifying his W-4.

Average UPSer doesn't know what a W-4 is.
 

ski or die

Ski or Die
Today is 1-31-24 and mail just delivered. Still no W2. Called Local and was told they just mailed them today. Hopefully they sent them next day air by a reliable company.
 

oldngray

nowhere special
They have to mail them by the end of Jan so if you don't have it yet it probably went to the wrong address.

Or the post office lost it.
 
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