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Quick answer

Box 12 Code S is simple plan salary reduction contributions.

What Code S means

What you chose to contribute to a section 408(p) SIMPLE retirement plan out of your pay.

Does Code S affect my taxes?

Already excluded from box 1, so you get the tax benefit through a smaller taxable wage figure rather than a separate deduction. It still counts for Social Security and Medicare, which is why boxes 3 and 5 look higher.

What to do about it

Nothing at filing time. It is the SIMPLE plan equivalent of Code D for a 401(k).

Where to find Code S on your W-2

Look at box 12, in the middle-right of the form. It has up to four lines, labelled 12a, 12b, 12c and 12d. Those letters are only line labels. The code you want is the small letter or pair of letters printed next to the amount, and it will read S. If you have more than four entries, your employer issues a second W-2 to carry the rest.

Not the code you were looking for? The full box 12 code list covers every letter, and the W-2 box decoder explains every box on the form.

Frequently asked questions

SIMPLE plan salary reduction contributions. What you chose to contribute to a section 408(p) SIMPLE retirement plan out of your pay.
Already excluded from box 1, so you get the tax benefit through a smaller taxable wage figure rather than a separate deduction. It still counts for Social Security and Medicare, which is why boxes 3 and 5 look higher.
Nothing at filing time. It is the SIMPLE plan equivalent of Code D for a 401(k).
Box 12 sits in the middle-right of the form, with up to four lines labelled 12a through 12d. Each line has a small letter code and an amount. The letters a through d are just line labels, not codes.