That would be an error in oyur W-2.
There is indeed a code of C for taxable group term life insurance over $50,000 and a code of P for nontaxable moving expenses. There is, however, no code CP. Since box 12 codes do usually have some impact on your return,it is important that they be correct. You will, unfortunately have to ask your employer what this is supposed to be and probably get a corrected W-2 from them.
Thanks.. It isn't on the 2016 W2. I realize it is also printed on the gray area of box 12d. Is that significant? If that doesn't mean anything I'll have to ask. Thanks.
I'm afraid you will have to ask because it's a very unusual thing to see on a W-2. Asking would be a much safer bet for you than for us to guess at it. Guessing could cause you to miss an allowable deduction or could result in your not claiming taxable income.
I have this as well! I did notice the the number is the difference between the NJ State wages (Box 16) and the wages I have listed in Boxes 3 and 5. Who would I ask to clarify this information?
Your payroll person or department would be the best person to ask.
I discovered it stands for "Cafeteria Plan" - there is a section on the IRS website about it. In NJ, it is the amount the employee contributes toward the healthcare plan. I need to go back through the process now - since I don't remember that showing up anywhere.