Form W-2 Taxable Wages does not match your Take Home Pay because they are calculated using a different formula.  See the following two formulas.  

Payslip Net Pay (Take Home Pay) Formula

• Net Pay = (Gross Pay) - (Pre-Tax Deductions) - (Employee Taxes) - (Post-Tax Deductions) 

Form W-2, Box 1 Taxable Wages Formula

• Taxable Wages = (Gross Pay) - (Pre-Tax Deductions)  

Terms Explained

• Gross Pay is salary plus longevity pay
• Pre-Tax Deductions includes UT Flex, ORP, TRS, Medical & Dental Insurance
• Employee Taxes includes federal income tax, state income tax, Old Age Survivor and Disability Insurance Tax, Medicare Tax
• Post-Tax Deductions includes ROTH contributions, child-support payments, term life insurance, disability insurance