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Retirement tax questions
Ahhh, those are new codes the IRS is attempting to implement, that TTX doesn't yet, and may not support this year.
One CHAMP indicated they've been delayed until the 2026 tax w-2 next year...but I'm a bit uncertain at this point. And the IRS has apparently did say they are delaying those two codes for 2025 W-2 forms....so not sure what you do...ignore those two box 12 entries, but DO report those $$ using the check boxes on the page following the main W-2 form (might work, might not)??
TP for total tips,
and TT for overtime
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
3 weeks ago