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IRS just released the specs for a key form you’ll be filing at the end of ’08: Form W-2, Copy A and Form W-2c have been updated, so make note of the following changes for ’08 filing:
- Social Security wage base is $102,000.
- The Social Security coverage threshold for domestic employee wages is $1,600.
- Two new sections have been added that provide resources for processing questions and information on how to report money amounts that exceed the field length.
- Language has been modified in several records to clarify filing issues.
You can get all the details at SSA’s site.