I have quit one federal job in December last year to work at another one. The employer of course is different. I received one W-2 from one employer and another one from the other but with no taxes withheld. How do I file these?
2007-03-17 16:38:54 · 6 answers · asked by Nancy G 1 in Business & Finance ➔ Taxes ➔ United States
I'm not sure who the moron was that gave Judy a thumbs down, but her answer is the first correct one. Give her the points.
When you have multiple Forms W-2, you add up the amounts on each W-2 and put the totals in the appropriate lines on your return.
If you start a job in December, it's NOT unusual for them to withhold zero tax for December. As far as they are concerned, what they paid you is your only income for the year and unless you're making over about $100k a year it wouldn't be enough to be taxable.
2007-03-17 20:53:05 · answer #1 · answered by Bostonian In MO 7 · 2⤊ 0⤋
If they are W-2s and not 1099s, then you file them exactly the same. Use a computer program (if under $50,000 they are free on IRS.gov) & it will ask if you have a 2nd W-2 then just put in the 2nd. If the 2nd is a 1099 you can mark 1099 instead of W-2. Taxes are so much easier for the average American with the new computer programs, just do not skip any extra deductions. Do not forget your credit from AT&T, they lost their lawsuit so most get an average of around $45 tax credit (that is direct cash to you).
2007-03-18 00:05:53 · answer #2 · answered by Wolfpacker 6 · 0⤊ 2⤋
You will file listing your income on your tax return. Under withholdings, you will put in a zero.
Basically you have made no payments toward any tax liability, so you will have to pay in full when you file. You may also have to pay the estimated tax penalty, but IRS will figure the penalty for you and send you a bill.
You should change your W-4 as soon as possible so that your withholdings will be appropriate for 2007 and you won't have this situation repeated again next year. Good luck.
2007-03-18 00:00:45 · answer #3 · answered by figment_usa 5 · 0⤊ 3⤋
You still have to report any income that you receive no matter if they took out taxes or not.
2007-03-18 05:42:21 · answer #4 · answered by Lost in a Relationship 2 · 0⤊ 0⤋
Ouch your going to pay taxes. Get an accountant.
2007-03-17 23:42:00 · answer #5 · answered by Chrissy #1 4 · 0⤊ 3⤋
If they are both W-2's, you just add them together.
2007-03-17 23:59:00 · answer #6 · answered by Judy 7 · 2⤊ 1⤋