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In order to compute the income taxes you owe the federal government this year your employer is required to give you a that lists your earnings and withholding for the past year.?
Wiki User
∙ 8y ago
Yes! If you are in default of a student loan, your federal income tax will be taken every yeare until the loan is satisfied. At least, that was my experience.
W2 FORM
Employer gives you a statement called a w-2 form. It's not a list. It gives you the total amount of witholdings and the total amount of earnings for 2007. If you worked this year, you'll get that statement either in Dec. January or Feb. of 2009.
Wiki User
∙ 8y ago
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What is a deduction from earnings as an advance payment on income tax?
Withholding amounts from your gross income is an advance payment of income tax and other required taxes, etc that your employer payroll department is required to withhold from your gross earnings that are subject to the withholding tax rate amounts.
What are Mississippi tax withholdings?
Your employers payroll department should be able to give you the correct number that you want for the Mississippi tax withholding and any other required withholding amounts that the employer will be required to withhold from your gross pay earnings for the pay period.
What is the difference between W-4 forms and W-2 forms?
Form W-2 is Wage and Tax Statement. Employers are required to file Form W-2 for each employee paid wages that had tax (income, social security, Medicare) withheld. Employees are required to attach Form W-2 to their tax return if their filing a paper return.Form W-4 is Employee's Withholding Allowance Certificate. Its purpose is to guide your employer to withhold the correct federal income tax from your earnings. The employer keeps Form W-4 for his records.
What is a W 4 form?
It is a US government form (issued by the IRS) used to select the level of withholding taxes that are to be withheld from income. An employer must have each employee complete a W-4 so that the proper amount of income tax can be withheld from their pay. A form required by the government to be filled out by new employees.
How much tax need to be withheld from income being a car salesman?
IF you are a employee with an employer you should get the correct amounts from your employer payroll department. They would be the one that know all of the necessary withholding amounts that they will be required to withhold from your gross earnings as a car salesman. IF you are receiving 1099-MISC income you are being treated as a independent contractor self employed and you will be responsible for all of your self employment taxes plus your income tax on your net profit from your business operation as a car salesman.
What is a deduction from earnings as an advance payment on income tax?
Withholding amounts from your gross income is an advance payment of income tax and other required taxes, etc that your employer payroll department is required to withhold from your gross earnings that are subject to the withholding tax rate amounts.
What are Mississippi tax withholdings?
Your employers payroll department should be able to give you the correct number that you want for the Mississippi tax withholding and any other required withholding amounts that the employer will be required to withhold from your gross pay earnings for the pay period.
What is a Form W-4?
It is a US government form (issued by the IRS) used to select the level of withholding taxes that are to be withheld from income. An employer must have each employee complete a W-4 so that the proper amount of income tax can be withheld from their pay. A form required by the government to be filled out by new employees.
Which tax withholding is required by the federal government?
SOcial Security Tax:D
What tax withholding is required by the federal government?
social security tax
What is the maximum fee an employer can charge an employee for wage withholding in IN?
They cannot charge any fee for performing the required payroll functions of an employer. They are required to withhold. The amount they must withhold is also defined.
What is the maximum fee an employer can charge an employee for wage withholding in ND?
They cannot charge any fee for performing the required payroll functions of an employer. They are required to withhold. The amount they must withhold is also defined.
Why withholding tax is required in SAP?
Withholding tax is not required in SAP but this functionality available for the countries where it is required. There are two kinds of Withholding tax, Classic and Extended.
What uses are made of the information shown in the employee's earnings records?
The employees' earnings record provides the information needed to prepare periodic reports required by the withholding tax laws, the FICA tax law, and state unemployment or disability laws. Employees also use the employees' earnings record in preparing Form W-2, Wage and Tax Statement. This form shows the amount of wages paid each worker in the course of the trade or business of the employer.
What uses are made of the information shown in the employees earnings record?
The employees' earnings record provides the information needed to prepare periodic reports required by the withholding tax laws, the FICA tax law, and state unemployment or disability laws. Employees also use the employees' earnings record in preparing Form W-2, Wage and Tax Statement. This form shows the amount of wages paid each worker in the course of the trade or business of the employer.
What uses are made of the information shown in the employees' earnings record?
The employees' earnings record provides the information needed to prepare periodic reports required by the withholding tax laws, the FICA tax law, and state unemployment or disability laws. Employees also use the employees' earnings record in preparing Form W-2, Wage and Tax Statement. This form shows the amount of wages paid each worker in the course of the trade or business of the employer.
Under the FLSA what information concerning employees wages earned must be maintained by the employer?
The employee's earnings record. This provides the information needed to prepare periodic reports required by the withholding tax laws, the FICA tax law and state unemployment or disability laws. Employers also use this information to prepare W2.
