Fish who are in Tax / IF : how is the amount in boxes 12-a and 12-b calculated on the W2?

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Hey beautiful people,
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Great question! And without getting too much into monetary policy.... Fed rates are set by the Federal Reserve which banks use to charge each other to borrow money. A lot of times these rates move together, however, a Fed rate increase does not instantaneously change the rates the bank offers.

Other types of savings account have seen an increase this year such as online savings accounts and fixed annuities.

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TC New grad Software Engineer
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