I had this job at the beginning of the year for a few months. THe owner shut down and move out of town with no way to get in touch with him. he left me a check for some of what he owed me in wages but i was wondering what will come of the taxes withheld from that job in the spring. i'm guessing i won't have W2 forms from him cause he skipped town. do i just count my losses or is there some danger for me come tax time to leave matters unsettled. the way i see it there isn't anything i can do. i tried taking him to small claims court but it wasn't worth it.
2006-10-24 06:47:25 · 4 answers · asked by krys 1 in Business & Finance ➔ Taxes ➔ United States
Do you have your last paycheck stub that shows what amounts were withheld? If not, you must do your best to recreate it. You can file what is called a Substitute W-2. As long as you report the wages you received, you should be ok. My guess is he isn't going to be sending out W-2's anyways. If he doesn't issue a W-2, the IRS will have no idea anyways how much income you were paid from him.
If you need more info on Substitute W-2's, go to www.irs.gov or call a tax professional for free advice.
2006-10-24 06:57:36 · answer #1 · answered by Fool in the Rain 6 · 1⤊ 0⤋
You are probably right in that you won't recieve a W-2 form. All you have to do is document the actual dollars you did receive from him as follows. You can download the two necessary forms from IRS/GOV-FORMS. The first one is a form 4598 which states that you did not receive a form W-2. Then you use of form 4852 which is a substitue for the W-2. On it you put down what data you do have; name of employer, last known address, amount you were paid and any amounts that he withheld from your wages. The beauty of this is that even though you couldn't make any headway in small claims court the IRS takes a VERY dim view of people who withhold tax dollars from employees and then don't send them in to the IRS. They may be able to cheat you but when you have money that belongs to the IRS you can wind up in a cell with BUBBA smiling seductively at you and making kissing noises. If you have specific questions send them to me and I will give you the benefit of my 36 years of tax experience.
2006-10-25 11:23:34 · answer #2 · answered by acmeraven 7 · 0⤊ 0⤋
The truth of the matter is you are responsible for your taxes and the information you report. To protect yourself, if you do not receive a W-2 by March 15th you need to call the IRS. The reason is W-2's are sent to the Social Security Administration and are due by February 28th and W-3 is sent to the IRS. If he did not issue a W-3 to the IRS then he will be in trouble. ON your paycheck stub it will have the employers EIN number. The IRS will need that. If he did file a W-3 the IRS will have that and they will give you the amounts to put on your tax return and instruct you what to send. W-3's are due by February 28th. I managed a tax preperation business for 3 years as a tax processor and your problem is not unique, believe me. Make sure you call the IRS by March 15th. The IRS compares their W-3 to what the SSA received. Hope this helps.
2006-10-24 15:08:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It is the responsibility of the employer to send your W2 by January 31. It would be his fault, not yours if you don't recieve it. Chances are he won't be reporting to the IRS either. I suggest taking your last pay stub to a tax preparer, like H&R Block, explain the situation and they should be able to advise you the best way to go about filing your taxes.
2006-10-24 13:56:51 · answer #4 · answered by missyhardt 4 · 0⤊ 1⤋