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Exempt-interest dividends are a class of mutual fund distribution not subject to federal income taxes. They are uncommon, if not relatively rare, and only apply to specific funds that invest in ...
Box 12: The Nontaxable Benefits You Got From Your Job Apart from those two boxes at the top of your W-2, the other main figures you should look at are in Box 12.
If you do earn interest on your investments, your brokerages will send forms if you earn more than $10 worth of interest and dividends. Make sure to report all your earned interest and dividends.
The Form W-2, Wage and Tax Statement, is used to report wages paid to employees and the taxes withheld from them. [46] Employers must complete a Form W-2 for each employee to whom they pay a salary, wage, or other compensation as part of the employment relationship. An employer must mail out the Form W-2 to employees on or before January 31.
A copy must be provided to the employee or other payee. The relevant forms are as follows: Form W-2 series for wages (the Federal report is also used for states), due to employees by January 31. A summary is filed on Form W-3. Form 1042-S for payments to foreign persons, due to payees by March 15. A summary is filed on Form 1042.
The U.S. requires payers of dividends, interest, and other "reportable payments" to individuals to withhold tax on such payments in certain circumstances. [7] Australia requires payers of interest, dividends and other payments to withhold an amount when the payee does not provide a tax file number or Australian Business Number to the payer.