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Get The W-2 Wage Limitation

Rley Baker & McKenzie LLjP Washington, D. C. INTRODUCl'lOlrl ' The IRS recently issued Rev. Proc.2006-47 and temporary and proposed regulations that provide methods for calculating the W-2wage limitation under $199. Both the socedureand the regulations are effective for taxable years beginning after May 17, 2006, and incorporate changes to the wage limitation enacted as part of the Tax Increase and Prevention Act of 2005 ("TIPRA"),-' providing that "W-2 wages" for purposes of the limit ation.

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