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What else can I help you with?
Will your employer know if you filed your taxes?
No. No until he's contacted by the IRS to garnish your wages.
Is rental income earned income?
Earned income comes from wages or self-employment. The IRS considers rental income as passive (not from work.)
What is the income from working a job called?
On the IRS Form 1040, it's called "wages, salary and tips".
Does all wages and salary income have to be reported on a federal return?
Are you asking what is required by laws and regulations? The answer is yes. Wages and salary income is reported to you on form W-2 from your employer and a copy of such form will be sent to the IRS. The Internal Revenue Service will match up what you put on your tax return with all forms that are sent to them and if they don't match you will have a problem. This problem will be told to you by the IRS along with additional taxes, penalties and interest about 2-3 years after your return is processed. The penalties and interest can be substantial so you never under report your income.
What if your employer does not provide a w-2 by the deadline?
call the irs theese people have a responsibility just as you do as a tax payer
Will your employer know if you filed your taxes?
No. No until he's contacted by the IRS to garnish your wages.
Is rental income earned income?
Earned income comes from wages or self-employment. The IRS considers rental income as passive (not from work.)
Does the Social Security Administration have lists of all places you have worked?
No. The SSA gets your annual earned income information from the IRS using your Social Security number. The IRS keeps records of your wages and FICA contributions; the employer name or location is generally irrelevant.
Why is MY employer taxing MY retention bonus at 40 percent?
Your employer is not taxing your retention bonus. Your employer is following the IRS rules that say your bonus is earned income, and as such, it is taxed just like other earned income.
What is the income from working a job called?
On the IRS Form 1040, it's called "wages, salary and tips".
Will insurance be INCOME on your W2's?
NO. The amounts that your employer is paying for your medical insurance premiums in the year 2010 will NOT be included in the box 1 gross wages of your taxable income but the amount will be reported to you and to the IRS on your W-2 form probably in box 14 for your information because your employer will getting a tax credit on the company income tax return for helping the employees pay for the medical insurance premium's.
How to report household employee income on tax returns?
To report household employee income on tax returns, you need to file a Schedule H form along with your regular tax return. You will need to provide information about the employee's wages, taxes withheld, and any employer contributions. Make sure to keep accurate records and follow all IRS guidelines to avoid penalties.
Does all wages and salary income have to be reported on a federal return?
Are you asking what is required by laws and regulations? The answer is yes. Wages and salary income is reported to you on form W-2 from your employer and a copy of such form will be sent to the IRS. The Internal Revenue Service will match up what you put on your tax return with all forms that are sent to them and if they don't match you will have a problem. This problem will be told to you by the IRS along with additional taxes, penalties and interest about 2-3 years after your return is processed. The penalties and interest can be substantial so you never under report your income.
Can a spouse in Texas have his or hers wages garnished by the IRS for a tax lien that the spouse incured before the marriage?
Yes. Texas is a community property state, and all income earned by both spouses is property of the community. Because of this, technically your wages are also his wages and the IRS can go after them.
Is a relocation settlement taxable by the IRS?
Relocation settlements are taxable by the IRS. If an employer pays them to relocate an employee, they must be included in with the employees gross income total.
How to report under the table pay to the IRS?
To report under the table pay to the IRS, you should file a Form 3949-A, Information Referral, or report it online through the IRS website. Be prepared to provide details about the employer and the unreported income. Reporting under the table pay helps ensure everyone pays their fair share of taxes.
What does it mean to be subject to backup withholding?
Being subject to backup withholding means that a portion of your income is withheld by a payer, such as an employer or financial institution, and sent to the IRS. This typically happens if you fail to provide your taxpayer identification number or if the IRS instructs the payer to withhold due to discrepancies in your tax information.
