As of 2015, employers use Box 14 on a W-2 to report 100 percent of a vehicle's annual lease value in the employee's income and to provide any other information that they want to add, according to the IRS. No other information must be entered.
The IRS gives examples of the type of information that an employer might include in Box 14, which include state disability insurance taxes withheld, union dues, uniform payments and health insurance premiums deducted. Other income that may be entered includes non-taxable income, educational assistance payments, and a minister's parsonage allowance and utilities, as stated by the IRS.
Employers may also enter contributions to a pension plan in Box 14. These contributions can be non-elective ones made on behalf of the employee, required employee contributions or employer matching contributions. They can also be voluntary after-tax contributions deducted from an employee's pay as long as they are not designated Roth contributions, according to the IRS.
If an employer is reporting prior year contributions under the Codes and Uniformed Services Employment and Reemployment Rights Act of 1994, then the employer should report makeup amounts for contributions in Box 14. These amounts must be reported separately for each year. Additionally, employers need to label each item in Box 14 on the W-2, as the IRS instructs.