When can I claim 2006 wages from W2 filed in 2007??

Question

My wife worked for someone in their home in 2006. Her employer paid her in 2006, but didn't file the 2006 W2 until 2007. Do I have to wait until 2007 to claim these wages...or can I claim them in 2006?

Answer 1

It is simple. If the W-2 has BIG BOLD 2006 printed on it, then you have to report in your 2006 return. If you have already filed your 2006 return, then you have to amend it (1040-x).

If the W-2 has 2007 on it (this is very strange an unusual situation), then hold on to it until next spring.

Best wishes.

Answer 2

Nobody files the W-2s until the next year after the wages are paid - they can't, they don't know the total until the end of the year.

W-2's that you got in 2007 for earnings in 2006 will say 2006 at the top, and those must be filed with your 2006 return.

If the W-2 says 2006 on it and you filed your 2006 return without including it, you'll have to file an amended return. You can't just hold it for 2007.

Answer 3

W-2s for 2006 are ALL generated in 2007. The W-2 should say 2006 in big bold numbers near the top. You must file that with your 2006 return that was due yesterday. If you filed without it, you MUST file an amended return and pay any additional tax due. You may have internest and penalties for late payment so you should NOT delay in doing this!

Answer 4

Taxes are filled the following year. Anything earned in 2006 will be filed in 2007.

Answer 5

You have to wait til January '07 to file because you must account for your total income for the entire year of '06.
If you filed before '06 was over, you wouldn't have an accurate account of your income received.

Answer 6

Right-O, Johnny K. It's only a tax loss if you claimed it is taxable income previously. The loss is your time, not your $$. Time is not taxable nor tax deductible. However....if you ever do collect (you probably won't), it's taxable in the year you receive it. The WealthBuilder Tax Specialist