Understanding Box 12 of Your W-2: Essential Codes and Their Impact on Your Taxes
Unlock the mysteries of Box 12 on the W-2 form with our comprehensive guide. Discover the significance of its codes, which reveal crucial details about compensation and deductions, including retirement contributions and health insurance premiums. Learn common pitfalls to avoid and how accurate reporting can impact your tax liabilities and refunds. Empower yourself with the knowledge to navigate your tax situation effectively and ensure compliance with IRS regulations.