When do I have to learn how to fill out a W-2 form?
Form W-2 is an obligatory form to be completed by every employer. Form W-2 doesn’t have to be filled out by the employee. It is given to inform the employee about the amount of his annual income and taxes withheld from it.You can find a lot of information here: http://bit.ly/2NjjlJi
How should I fill out my w-2 or w-4 form?
To calculate how much you should withhold you need to calculate two things. Step 1 - Estimate your TaxFirst go to Intuit's TaxCaster (Link - TurboTax® TaxCaster, Free Tax Calculator, Free Tax Refund Estimator) and put in your family's information and income (estimate what you'll make in 2016 before taxes and put zero for federal and state taxes withheld, don't worry that the TaxCaster is for 2015, you're just trying to get a general number). Once you enter in your correct information it will tell you what you would owe to the federal government.Step 2 - Estimate your Tax Withholding Based on Allowances ClaimedSecond go to Paycheck City (Link - Salary Paycheck Calculator | Payroll Calculator | Paycheck City) select the correct state, enter in your pay information. Select married filing jointly then try putting in 3 or 4 for withholdings. Once you calculate it will tell you how much taxes are being withheld. Set the pay frequency to annual instead of bi-monthly or bi-weekly since you need a total number for the year. Try changing the Federal withholding allowance until you have enough Federal taxes withheld to cover the amount calculated in the TaxCaster. The Federal withholding allowance number that covers all taxes owed should be the number claimed on your W-4.Don't worry too much about your state. If you claim the same as Federal what will usually happen is you might get a small refund for Federal and owe a small amount for State. I usually end up getting a Federal refund for ~$100 and owing state for just over $100. In the end I net owing state $20-40.Remember, the more details you can put into the TaxCaster and Paycheck City the more accurate your tax estimate will be.
How do you fill out a W-2 form?
In general, the W-2 form is divided into two parts each with numerous fields to be completed carefully by an employer. The section on the left contains both the employer's and employee`s names and contact information as well social security number and identification number.You can find a lot of information here: http://bit.ly/2NjjlJi
Why would my boss have me fill out a W-2 form but yet still pay me with personal checks? I get paid by the hour. We work 12 to 14 hours with no overtime.
He did not have you fill out a W-2 form. A W-2 form is “issued” to all employees at the end of a calendar year, which summarizes all of an employee’s earnings and related income tax deductions made throughout the year. It is used as part of the information required to prepare a personal income tax return for employed individuals.If anything, assuming you are a new employee, he very likely had you fill out a W-9 form. This is a pretty standard procedure. It basically is a request for you to divulge your social security number so that a W-2 form can be issued to you at the end of the year. This information part of the information that will appear on an informational return submitted to the IRS, when your W-2 earnings are transmitted to them.That is the part that does make sense.The part that doesn’t make sense is why you were asked to fill out a W-9, yet are being paid with personal checks.If this is happening, in most cases, it would appear that he is paying “under the table.” I suspect no income taxes of any kind are being withheld.If I am correct, I would seriously think about leaving the company. This practice is illegal.Normally what happens is that a company paycheck is issued. State and federal income taxes are withheld from your gross pay and are forwarded on to local and federal government on your behalf. This is not happening from what you’ve described.Additionally, an employer must match the amounts withheld for social security and medicare and submit that match as well, again, on your behalf.It sounds like none of that is happening, if he’s cutting a personal check to pay you.Additionally, there are employment laws (both federal and state) which require an employer to pay overtime based on the number of hours worked. Typically, this is over 40 hours worked in a week or over eight hours worked in a day. Each state has different laws, so I’m not sure which applies to you.If you are being paid no overtime and are working 12–14 hours daily for five or more days a week, that is the second law your employer has broken. By law, you are entitled to fair overtime compensation, so it is something you might consider seeing a labor attorney about (to claim what is rightfully yours).Of course, I cannot say (and am not saying) for sure what is happening, but that is the appearance of what it looks like to me, based on what you’ve described.
Is my employer notified when I fill out my tax return using the information on the W-2 form they sent me?
No, and really, your employer does not care what you do with it. Their responsibility for your taxation reporting ends with their issuance of the form to you.You do realize that the I.R.S. also get a copy of it, don’t you? And, in handy computer data files.
What are some legal ways to earn money if you cannot legally be employed (i.e. not having to fill out a W-2 form)?
Online work, freelancing (aka independent contractor) and distant work. A lot of graphic design, tech (aka Computer Science) and numbers related work can be done from your own home. You will probably won’t get the benefits of working for a huge corporation, but it sure beats being homeless.The term “Legally allowed to work at X country” is complicated to apply to independent contractors hired over the internet because technically, the internet is not a country.I used to play in a Private Server for the videogame World of Warcraft. They offered developpers who applied for their team a salary between $4,000 and $5,000 USD a month. It’s quite low for a developper job, but the only requirements were having access to Skype to talk with your team mates.There are many legal companies that offer distance jobs.You can be a private accountant for small LLC’s or individuals and work from anywhere in the globe. A graphic artist has many websites availables to freelance and sell their workThe problem is that many freelancers don’t report self-enployment income tax. And some banks in the US (or other countries) do allow foreigners to open bank accounts just by providing your passport, proof of income and an address.Therein lies the problem. You don’t report taxes in the US because you’re not living in the US and are not a resident or citizen. But also, the tax offices (the IRS in the US or the Canadian Revenue Agency in Canada have no jurisdiction over foreing banks, so they don’t know that you’re making money.Freelancing is legal, but reporting taxes is something of a mix between legal income and working-under-the table income.The thing is, when people do that, they are often limited to a single bank account. If you start sending money from your US bank account to your Canadian bank account, the CRA might get suspicious because you’re supposedly unemployed, so they will wonder where you’re getting that money from, and might even ask for proof. Are you selling drugs? Traficking people? Or do you have a proof of self-employment income? Once you give that to them, they will obviously tax you and apply any penalties for tax evasion.
If I have to fill out Form WH-4852, should I also send in my original W-2 and file it?
The purpose of Form 4852 is to substitute for the original W-2 if for some reason you didn't receive one and couldn't get one from an employer. If you have the original W-2, you don't file Form 4852.