1300 Horizon Drive, Suite 106 | Chalfont, PA 18914-3970Phone: 215.997.5600 | Fax: 215.997.7218E-mail: email@example.com
Act 32, which changed local earned income tax (EIT) withholding for 2012, also changed the way W-2s are to be prepared. Instead of typing the locality name in box 20, you are now required to list the first 2 digits of the Political Subdivision Code (PSD) where the withholdings were remitted. This will generally be the employer's location. For example, an employer located in New Britain Township (NBT) should list "09" as the locality name instead of "New Britain Township." The PSD code for NBT is 090506. The first two digits - "09" - are what needs to be reported in box 20 on the W-2. Using this coding indicates a Bucks county employer who remitted tax to Keystone Collections Group.
©Copyright 2011 Dunlap & Associates. All rights reserved. Powered by Sitecats Web Development.Legal Disclaimer