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Is it legal for an employer to report more paid to an employee on their tax forms than he is acutally paying the employee?
He must report many things you may not consider as compensation...not just what you receive on your paycheck. (And what each type of tax - Federal, State, FICA, unemployment, …etc, consider compensation changes with each...so the amount he reports to each will normally be different). This happens to virtually everyone. And of course, as he is liable to pay over the correct withholding for the amount of compensation, and the employer portion of FICA (substantial), UI, disability, etc., etc., on what he reports as compensation, and gets no benefit anywhere I can think of for inflating it - he would have no reason to do so anyway.
This is not something either gets to agree to...it is the law, taken very, very seriously and if your an emplyer you must withhold tax (and contribute o FICA and in most cases… State programs too, on your behalf) on your employees exactly as specified...no option...not doing so is criminal and there is no Corporate protection...the officers of the Co are personally liable. Don't mess around for another second...contact the IRS and your States Labor Department. http://www.irs.gov/localcontacts/index.html
There are two forms that are sent out by colleges. One, Form 1098-E (Student Loan Interest Statement). Any person or entity (college, educational institution, financial instit…ution, etc.) receiving $600 or more in student loan interest from an individual is required to file Form 1098-E. Two, Form 1098-T (Tuition Statement). Eligible educational institutions are required to file Form 1098-T to report qualified tuition/related expenses paid by a student enrolled in their institutions. Eligible educational institutions are colleges, universities, vocational schools, or post-secondary educational institutions described in section 481 of the Higher Education Act of 1965. Both Form 1098-E and Form 1098-T are required to be provided/sent to the recipient (student or payer of student loan interest) by January 31st. If January 31st falls on a weekend, then the deadline is extended to the next business day. The deadline for 2008 forms is February 2, 2009. The deadline for 2009 forms is February 1, 2010. For more information on educational expenses, go to www.irs.gov/formspubs. Select Publication Number. Then enter 970 in the Find Box to print a copy of Publication 970 (Tax Benefits for Education).
No minimum. It all must be reported by him and sent to the employee.
At a minimum, you need to send either Form 1040, Form 1040A, or Form 1040EZ. Everyone can use Form 1040. People with simpler returns have the option of using the other two f…orms instead. Then you attach whatever schedules apply to the type of income you received. For example, if you received rental income, attach Schedule E. If you go through the line-by-line instructions for Form 1040, it will tell you which schedules need to be attached for each line. Then you also attach a copy of each W-2 form you received from an employer. You also attached each Form 1099-R you received that showed income tax withheld.
The federal tax deposit schedule depends on the size of your payroll and the type of employment you provide. For household employers eligible to use Schedule H, it can be as l…ittle as once a year. For large corporations it can be twice a week. And others fall somewhere in between. If you really need to know the details, read chapter 11, "Depositing Taxes," in Publication 15: http://www.irs.gov/pub/irs-pdf/p15.pdf State rules vary by state.
Wow...question makes no sense really. Pay is taxable, both by Feds and State, and most other places. Employer must withhold an estimate of the tax on that pay, and s…end it to the Government, into an account of YOURS. He doesn't pay the tax for you, it is coming from your pay.
Both. Employers and employees contribute an equal percentage of the employee's income to Social Security.
Yes. Your employer has complete control over your work schedule.
The correct address can be found on the last page of the instruction book for the 1040 tax form that you are using. Go to the IRS gov web site and use the search box for Ind…ividual Taxpayers - Where to File Your Own Individual Return Addresses by state for Forms 1040, 1040A, 1040EZ, 1040ES, 1040V, amended returns, and extensions (also addresses for taxpayers in foreign countries, U.S. possessions, or with other international filing characteristics)
The required Social security and medicare taxes. Also known as the FICA taxes.
I'm not sure what you think by saying "pay tax" or employer! If you are an employee (in short, you receive a W-2 not a 1099 reporting your earnings), then the employer MUST wi…thhold income tax, in accord with how you legally instruct wby filing your W-4. That withholding is not his paying your tax. That is his not paying a part of your earnings TO YOU, but instead paying them over to the Fed/State?Local government, as an estimate of the tax you will need to pay. When YOU calculate how much, if any, you were required to pay and file a resturn, if too much was sent in on your behalf, you get it back (a tax refund), and if not enough was sent in, you pay the additional. HOWEVER, there are many things that may look like taxes that an employer must pay out for an employee also. Some the employee may have to contribute too, dependening on what and where. Like unimployment insurance, worker compensation coverage, medical and life insurance policies, etc.
Almost all non-government employers smaller than 20 employees CAN do so, since they are exempt from the Age Discrimination Act.
Which tax form is completed by an employer to inform the employee of the amount of federal withholding for the previous year?
No. Simply receiving taxable income (whether or not it's reported to you on a Form W-2 or 1099), doesn't mean you're required to file a tax return. You are only required to fi…le a tax return if your total income (which includes all income whether it's reported on a 1099 or W-2, or not) is more than the threshold for your filing status. See the filing requirements chart in your tax booklet for the threshold amounts. It's different for the IRS and state taxes, so you may not be required to file a federal return, but still required to file a state return. Regardless of your income, if you had tax withheld and expect a refund or qualify for refundable tax credits, like EIC, you'll want to file anyhow.