Cancel and Return to Message Board |
Original Message Seriously, you think somone is going to buy that line of snake oil salesmen nonsense?
IRS Publication 463 (Chapter 6): Allowance more than the federal rate. If your allowance is more than the federal rate, your employer must include the allowance amount up to the federal rate under code L in box 12 of your Form W-2. This amount isn’t taxable. However, the excess allowance will be included in box 1 of your Form W-2. You must report this part of your allowance as if it were wage income. |