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Why does my W2 show total employee contribution to FSA

Customer Question
Dependent Care including amount that...
Why does my W2 show total employee contribution to FSA Dependent Care including amount that was forfeited? I contributed $2400 however only claimed $450 but the full amount in on my W2 in Box 10.
Submitted: 2 years ago.Category: Tax
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8/18/2015
Tax Professional: Lev, Tax Advisor replied 2 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,638
Experience: Taxes, Immigration, Labor Relations
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Hi and welcome to our site!
That information on W2 is provided by your employer - correct?
W2 form for 2014 was issued in January 2015 - correct?
So at that time - there were NO information whether some of contribution are forfeited - as you still had time to claim benefits - generally till Apr 15.
Were you aware of the deadline?
Or the deadline is different for your plan?
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Customer reply replied 2 years ago
This was for 2012 and irs is questioning return due to 2400 showing in box 10 but only claimed 450 the remainder was forfeited to employer
Tax Professional: Lev, Tax Advisor replied 2 years ago
Appreciate your clarification...
The IRS actually looking for your form 2441 - specifically for page 2.
Can you verify your 2012 tax return
- if you filed form 2441?
- if yes - please list line numbers and amounts on that page
If you can scam that form and send to me? - I will verify your filing.
If you did not file that form - I will help you with correction.
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Tax Professional: Lev, Tax Advisor replied 2 years ago
far - the issue is NOT with W2 reporting.
Your employer correctly reported FSA Dependent Care contributions because that amount is NOT included into box 1.
That is not related to how that amount is used.
However - because of that reporting - you are required to use form 2441 with your tax return.
Most likely - you did not include that form - and the IRS "thinks" that amount might not used for designated purposes.
.
If my assumption is correct - you would need to amend your tax return (using form 1040X) and add form 2441.
Most likely - there will not be any charges in tax calculations.
Here is form 2441 for 2012
http://www.irs.gov/pub/irs-prior/f2441--2012.pdf
and instructions
http://www.irs.gov/pub/irs-prior/i2441--2012.pdf
.
Specifically for your situation - see line 14
Enter the amount, if any, you forfeited or carried forward to 2013. See instructions
So - the amount you forfeited $1950 - should be reported here.
.
That should correct the issue.
You need to reply to that letter with your amended tax return - and explanation of facts - and that should address your issue with the IRS.
Let me know if that answered your question
If you need any clarification - be sure to ask.
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Lev
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,638
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Experience: Taxes, Immigration, Labor Relations

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