Frequently Asked Questions 2011 W-2 Form

What is a W-2 Form? The W-2 form is a detailed statement of your earnings and taxes paid for the current year.
It is the equivalent to the Form 16 in India.

Will I be able to access my W-2 Form on-line? Yes. You can access your earnings statements and W-2 form through ADP iPay. Will I get the hard copy of my W-2 Form? Yes. You should have received at your current mailing address by January 31, 2012. Please note that the hard copies of the W-2 Forms were mailed to the address information updated in PeopleSoft HCM system as of 07th Jan 2012 for all active employees in US as of this date. Please note you can also access your W-2 Form online https://ipay.adp.com and the same can be used for filing the tax returns. I worked in US for part of the year and Im currently working in India. Where will I get my W-2 Form? The hard copy of your W-2 form will be sent to your location in India (by Feb 17th 2012). You may obtain the hardcopy from your Finance representative at your location. You can also access your W-2 Form online through ADP iPay. Do I need to file the W-2 Form with my income tax returns? Yes. Can I file my income tax returns on-line? Yes. Please visit www.irs.gov for instructions for filing your income tax return online. What is the last date for filing 2011 income tax returns? The IRS filing deadline for 2011 income tax returns is April 17, 2012. I have registered for the ADP iPay service, but I forgot my password. How to do I get my password reset? Please open a Remedy ticket in PeopleLine. [NA Payroll / Epay slip (ADP IPay) / Password Im not able to view my pay statements or W-2 Form in ADP iPay. What should I do?

reset for ADP IPay]

Please install the latest version of Adobe Acrobat Reader. If the problem still exists, please open a Remedy ticket in PeopleLine.

Im only able to access a few pay statements online; but I am not able to access my most recent pay statements or W-2 Form in ADP IPay. Why cant I access my recent pay statement and W-2 Form? You can only have one account with ADP IPay. Most likely you would have registered with a temporary SSN, and now have a permanent SSN. Please save all the pay statements available under your existing user ID. Once you have saved those earning statements, you will need to open a Remedy ticket in PeopleLine, informing Payroll that you now need to register with your new SSN. Your existing account in ADP IPay will be deleted. Once deleted, you will be provided instructions so that you can register again with your new/permanent SSN. Can I access my W-2 Form in ADP iPay if I have not received my permanent SSN from the Social Security Administration Office? No. Your W-2 Form will not be available in the ADP iPay system. You will receive a hard copy of your W-2 form at your current mailing address with the SSN status as Applied For". What should I do if I received my permanent SSN prior to filing my income tax returns? Please update your SSN information in Peoplesoft HCM. The SSN will be updated and a corrected W-2 Form (W-2C) can be issued. My name on the W-2 Form is incorrect. How do I get this corrected? Please submit your name change request in PeopleSoft HCM and open a request in PeopleLine. We will update the corrected name on receipt of the approval for your name change request in Peoplesoft, and will issue a corrected W-2 Form (W-2C). Federal Tax, State Tax, Local Tax, Social Security Tax and Medicare taxes have been withheld from my earnings in the current year. Do I need file tax returns for all of these taxes? Generally, you need to file Federal, State and Local income tax returns. However, local income tax returns are not required to be filed in all jurisdictions. Please check with your professional tax advisor as to which income tax returns you are required file. My marital status is incorrect in the summary section of my W-2 Form. How can I correct this?

Your marital status stated in the summary section of W-2 Form reflects the election made on the W-4 Form that you completed and submitted to HR. Income taxes were withheld based on this election. The summary section of the W-2 statement is provided for informational purposes only. Please use your correct marital status when you file your tax returns. The tax will be calculated based on the marital status and dependant information provided by you in tax returns. You will get the refund if any for the excess taxes paid directly from IRS / State. No correction to the W2 is required for this change. Please submit the new W4 form for the year 2012 to update your correct taxable marital status and exemptions. What is the Gross Pay amount in the summary section of the W-2 Form? This is the total wages paid to you in the current year. This should agree to the YTD gross wages on your (final) December 31, 2011 pay statement. What is the Misc. Non Taxable Comp. in the summary of the W-2 Form? This is the ordinary income related to the sale of shares purchased through Employee Stock Purchase Plan. What is the amount listed as Other Caf 125 in the summary of the W-2 Form? This is the total amount of pre-tax benefit deductions (medical, dental, vision, etc insurance premiums) deducted from your 2011 earnings. What is the amount in Box No.1 of the W-2 Form and how was if determined? This is your total Federal taxable wages. The details for the calculation of this amount appear in the summary section of your W-2 Form. What is the amount in Box No.12 coded- C, and the amount listed as GTL in the summary section of the W2 form? It is Imputed Income for your Group term Life Insurance coverage in excess of $ 50,000. The IRS requires you to be taxed on the value of employer-provided group term life insurance over $50,000 (IRC Section 79). The taxable value of this life insurance coverage is called imputed income. Even though you don't receive cash, you are taxed as if you received cash in an amount equal to the value of this coverage. Example: If you are age 32 and have $150,000 of coverage, the value of $100,000 of coverage is treated as taxable income. In this case, based on IRS premium tax tables, the value of the additional coverage is $96 per year and $96 is taxable to you. Your situation will vary based on age, annual base salary and tax status.

*Please note: Imputed income calculations will not apply to any Supplemental Life coverage that you may have signed up for through our voluntary plan with Cigna.

What is the amount in Box No.12 code-D? This is the total of amount you contributed in the current year to the 401(k) plan. You will also have a check in the Ret Plan box in Box No.13. What is the amount in Box No.12 code-P? This is non-taxable relocation costs that have been reimbursed to you during 2011. This is provided for informational purposes only.

What is the amount in Box No.12 code-V? This is the income that resulted from the exercise of your vested stock options. This amount has been included in Box No.1, Box No.3 and Box No.5. What is UI/HC/SWF in Box No.14? This is the State Unemployment Insurance amount deducted from your wages. What is DI/SDI in Box No.14? This the State Disability Insurance amount deducted from your wages. What is the FLI in Box No.14? This the New Jersey Family Leave Insurance amount deducted from your wages. What is the amount in Box No.14 coded as TX REL? Taxable relocation (or initial stay costs) reimbursed to you during 2011. Cognizant has grossed-up these wages for the taxable relocation and initial stay costs, and has paid the incremental taxes due on these earnings. The incremental taxes paid by Cognizant have been added to your taxes withheld for 2011. I received more than one W-2 Form for the year 2011. How do I file my tax returns? If you worked in two or more States during the current year, you will get one additional W-2 Form for each state worked in, that has a State income tax. Please check with your professional tax advisor regarding your income tax return filing requirements for each state. The wage amounts on my W-2 Form are incorrect. How do I have my W-2 corrected?

Please open a Remedy ticket in PeopleLine. Please open a Remedy ticket in PeopleLine

The State / Local withholdings are not correct on my W-2 Form. How do I have my W2 corrected?

State taxes / Local taxes are withheld based on the work location information updated in ESA by your Manager. Please be sure to have your Manager update the correct work location details in the ESA so that the correct State / Local taxes are withheld from your salary in the current year. I noted an error on my W2 and opened a Remedy ticket in PeopleLine. When will I get the corrected W2 form?
For any correction requests reported in PeopleLine and processed by Feb 29 corrected W-2 Form (or W2C) will be issued by March 15th 2012.

W-2 corrections are handled through a batch process. The schedule for processing W-2 corrections is as follows:
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For any correction requests reported in PeopleLine and processed between March 1 and rd th March 23 , the corrected W-2 Form (or W2C) will be issued by April 6 2012
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2012, the

If you have any questions regarding the preparation of your income tax returns, please consult with a professional tax advisor. Cognizants Finance Department is not authorized to provide tax advice to associates.