The W-2 Box 5 amount is taxable wages subject to Medicare taxes. This differs from your gross earnings because there are certain deductions that reduce your Medicare taxable wages, such as pretax medical/dental and vision insurance, and FSA Medical and Dependent Care. Retirement deposits and Tax-Deferred Savings Plans do not reduce your Medicare taxable wages. Medicare taxable wages do not have a cap amount in the year.
April 8, 2025, 4:45 pm: The T&E Card Change Request form is failing intermittently. We are working with ITS to address the issue. In the meantime, please send us an email with the information the form requests to askfinance@virginia.edu