After I had them done I recieved the W2c statement. The amount was aproxamitly $1,350.
2007-02-14 19:01:37 · 5 answers · asked by Geoff 2 in Business & Finance ➔ Taxes ➔ United States
That depends upon the source.
If it's Social Security or State disability it's not taxable.
If it's from an employer sponsored plan that your employer paid for it's fully taxable. Ditto if you paid for it with pre-tax dollars.
If you paid for the plan with after-tax dollars, it's not taxable.
If it's not taxable, there are no tax consequences so you don't need to do anything. If it is taxable, you need to file an amended return and pay the additional tax due by April 17, 2007.
2007-02-14 22:46:32 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
File an amended return. If you don't, eventually you'll get a letter from the IRS telling you that you left this off your return, and assessing the tax and possible interest and penalties.
2007-02-15 17:17:17 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
You need to file an amendment to your taxes. Otherwise they will get the copy of your W2c at the IRS and notify you. If you do not amend it and correct your taxes you can be audited. They can also just audit you.
2007-02-14 19:08:52 · answer #3 · answered by breannejk 2 · 1⤊ 1⤋
you can file an amended tax form with the IRS...get it done as soon as possible...good luck
2007-02-14 19:05:29 · answer #4 · answered by Michael K 5 · 0⤊ 1⤋
you're gonna have to have a "do over"
2007-02-14 19:06:47 · answer #5 · answered by Anonymous · 0⤊ 1⤋