fun with taxes...

my W2 doesn't have Federal Tax with held amount on it ... but I know how much was taken out per day ... I'm thinking I could divide the Social Security withheld by the amount I paid each day, and get the amount of days I worked ... then multiply the amount of federal tax paid per day by that number and fill out the missing info manuelly

anyone see a flaw in this?

 

Hey, you better get your employer to amend the W2 and send you one with the corrected information. Two problems if you don't.

1) The IRS will not recognize your calculations as being legit and will audit your return by typically sending you a form letter telling you that they adjusted and corrected your return for you because of your mistake that you made on it.

Hence, if you are expecting a check back - ain't gonna happen. If you thought you only owed X dollars, the IRS will come back saying you owe alot more.

and

2) Each employer has to send into the IRS all of the information of what was withheld from whom and their IDs that they used (typically your social security number).

The IRS computers match up what you send with what they send. If it doesn't match, they send you a form letter saying essentially the same thing as NUmber 1 - you made a mistake on your tax return form and viola - less money for you. They can take up to two years for them to send this wonderful letter to you - believe it or not.

I really suggest that you get your employer to provide you with a corrected W2 form before sending in your tax return. File an extension so that you have the time to do all of this.

JW

 

thnx for the advice

my employeers my uncle .. and he's kinna getting old so I think he just forgot to put it on my W2 .. lol ... that's what got sent to the IRS I'm getting an extension so they can clear it up though