Taxpayer had payroll deductions directed into Dependent Care FSA for half the year of 2015 (company's fiscal year is from 7/1 to 6/30). Shouldn't those deductions be reflected on the W-2 in box 10?
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Company's fiscal year has no bearing on the employee W2 because they are all cal year. Taxpayer should look at each pay stub and see how much was deducted for dependent care for 2015, unless they have a year end statement that shows the full year and the W2 box 10 is empty because of an oversight. Get a corrected W2 or file by correcting the W2. Did the box 1 amount get reduced by box 10?Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR -
I wouldn't think there is a way to determine if box 1 was reduced by the payroll deductions without the last paystub for the year being the dependent care FSA is not going to be reflected in box 3 or 5 either and there is nothing listed in box 10. Am I missing something?Comment
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When in doubt ask the taxpayer to produce the year end pay stub or voucher that has all the deductions nicely summarized YTD. I will not do a return if the W2 has any "concerns" and i can't back track that to the actual deductions made. I find a lot of year end bonus or vacation pay on the stub but not on the W2. When the employee gets a straight answer from the payroll people it is that it will be applied to the next year because "boss" wanted it that way!Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDRComment
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