Questions tagged [form-w-2]

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0answers
33 views

Which field of W2 is compared with 130k threshold for NHCE/HCE classification?

I understand that many companies use the 125k/130k/etc fixed threshold for classification of NHCE/HCE employees (whereas others use the 20% rule), which field of W2 is used to determine this? For ...
12
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1answer
4k views

Why am I being under taxed on a part time job?

This is my friend. But for ease I will be referring to me. In 2020, I began a part time job stocking shelves starting in August. At the end of the year, I received my W-2. My compensation was $1800, ...
5
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2answers
476 views

Can I deduct travel expenses even if I received a W-2?

I have a full-time job. I also work as a freelance musician playing for local theaters. One of the theaters I work for is in another city and they gave me a W-2 for the ~$1000 I made in 2020. ...
4
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1answer
513 views

Can I enter a single W2 entry if I have two W2 forms from the same employer?

I have received 2 W2 forms from the same employer. First one has all the entries for federal and my current state. Second one does not have entries for the federal information, and only information ...
1
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1answer
54 views

Getting taxed on RSUs(USA)?

I am currently living and working in NYC, and when I joined my job, I was awarded couple hundreds of stocks which will vest in periodic intervals over the next couple of years. On my 2020 W2, on box ...
1
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1answer
40 views

Does the owner of a corporation need a W2 for personal taxes if the Corporation revenue was 0 and didn't make any money?

I the owner of a C-Corporation that didn't have any revenue in 2020. I am filing my personal tax returns and was wondering if I need a W2 issued by the Corporation with 0 income or can I just report ...
1
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1answer
45 views

Got one check independent contract work that paid taxes for Medicare and SS. Should it still count as self-employment income?

I did independent contract-style work for two days last year that paid me $222.67. The check accounted deductions for Medicare and Social Security. I also made $195 from redemptions of gift cards and ...
1
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1answer
20 views

Does it make sense for my Federal Wages and SS wages to be the same if I have nonzero DD values for insurance?

On my W2, I had $xx,xxx listed in both my Federal Wages as well as my SS and Medicare wages. My tax software running it's data checks said it was unusual since I had values in Box 12 (of which, I had ...
7
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1answer
103 views

Received my W2 but never received any paychecks

I worked for a bar/restaurant that opened Feb. 14, 2020 and then covid hit a month later and then the place closed. I worked for the whole month and never received any paychecks. I tried contacting ...
1
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1answer
59 views

W-2 from company despite no longer a current employee

I last worked for this company in August of 2019. I am trying to file my taxes for 2020. I received a W-2 for 2020 because I received a direct deposit from this company in March of 2020. I believe ...
4
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1answer
28 views

W2 has different address from present primary address

I have W2s from my previous employer and present employer with an old address and I don't live there anymore. Do I need to get them reissued with my primary address details?
0
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1answer
100 views

I am on W2 making >$200K with a company the doesn't offer a 401K. What are my retirement contribution / tax reducing options?

I am an hourly employee on W2 making >$200K with a company the doesn't offer a 401K. I have been self employed in the past and have a Solo 401k as well as Traditional. For taxes I file jointly ...
13
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3answers
3k views

How do you know how much to withold on your W-4?

My father says that if I need more money, I can withhold less on my W-4 (which won't result in the same oh here's $3,000 come tax return time), but will give us access to more money. So how do I know ...
1
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0answers
19 views

W2 details for foreign earned income tax exemption

I'm planning on being out of the US for a 12-month period, and plan to take the foreign earned income exemption. The problem is that my employer uses a payroll service which can only issue a W2 ...
0
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0answers
40 views

Working for US company in Israel; how to fill out W4?

If I am American tutoring online for a US company and living in Israel, can I use my parents' address on a W4? I no longer reside in America and do not have a US address.
1
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2answers
78 views

Interpreting a W2 form

Suppose a person receiving $3,000 every 2 weeks (gross pay). Assuming he works for 12 months, then the total amount he makes 72,000 (gross). Is this how Box 1 is calculated in the W2 form? Could a W2 ...
3
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3answers
83 views

Filing taxes without one of my W2s?

My former employer (UC Berkeley) told me to download the two W2s it has issued for me from two websites. I downloaded the first one, but the second website doesn't work. I cannot download the second ...
0
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0answers
51 views

Why w-2 is given in the year of sale?

I got some stocks through my employer in 2015. I sold some in 2019. Why did I receive W-2 income in 2019 from my company which I no longer work? As far as I understand, either its RSU or ESPP, ...
0
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1answer
48 views

My Employer Contribution each year Using W2 form

I contribute to my 401K each month but I am not sure how much my employer is contributing each year to my 401K. They said they will match 5% of my salary but I am not able to find that number in my ...
5
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6answers
2k views

IRS notice of owing money for income tax and interest

I got a notice from IRS saying that I didn't report my unemployment income and some small interests from my savings account (I'm in the US). I was unemployed for 4 months in 2018 (in Texas) and I didn'...
1
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1answer
86 views

Owing NYC local income taxes?

I was completing my 2019 taxes when I found out that my employer(for the new job that I started in 2019) has not withheld any local NYC income tax(“Local income tax”[box 19] on w2 is empty but they ...
2
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1answer
147 views

How to avoid paying tax on starting bonus that was used to reimburse a bonus from a prior employer?

My prior employer paid me a retention bonus in 2018. I left that company a year later, causing me to have to repay half of the bonus. My new company added an equivalent amount to my starting bonus. I ...
2
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1answer
533 views

W2 Copy A different then Copy B & 2 & C?

I received my W2 form in the mail from my employer. There is a Red form that apparently is called 'Copy A'. Then there is the standard black and white form with Copy B, Copy 2, and Copy C on it. The ...
1
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1answer
342 views

Isn't my W-2 federal income tax withheld too low?

My wife and I file our income taxes as "Married Filing Jointly". There seems to be a drastic difference on our W-2 forms. She has been at her job for 15 years and her W-2 has changed very gradually ...
1
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1answer
209 views

Employer didn’t treat J-1 intern as employee

I visited the US on a J-1 Visa as an intern for 7 weeks. My employer wasn’t withholding any income for taxes, so I paid estimated tax once I received my final paycheck with a plan for my employer to ...
9
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1answer
3k views

W2 Form Stating Single instead of Married

My Employer just now sent my 2019-W2-form, I have noticed, my form shows Taxable Martial Status "Single" instead of "Married" Is it possible to change the status during tax filling. If Yes then What ...
6
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2answers
2k views

Do I have to wait for my W-2s to fill my tax return for the previous year?

First year out of college (and my first paid jobs ever). I worked at 3 different companies last year (2 as a full-time employee and 1 as an independent contractor (1099-MISC)). Do I need to wait for ...
1
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1answer
193 views

1099 and W2 income in same year. Does it make sense to open LLC/S-corp?

Next year (starting from January 1st) I am planing to work for company "A" as self-employer (software developer/consulting) for 3 month. After that I am planing to work as full time employee (W2) for ...
0
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0answers
87 views

The client wants only w-2, is there a way to route this via LLC?

I have an LLC registered and operating in USA. I produce content. My client is in DC. I would like to provide services using the content that my LLC owns. The client is not directly buying the content,...
9
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2answers
2k views

Why do some employees fill out a W-4 and some don't?

I recognize W-4s are for calculating how much an employer should withhold from an employee for tax purposes. More allowances, less withheld. Less allowances, more withheld. This is the gist of it? At ...
0
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1answer
236 views

Incorrect state on W-2 withholding

Working on TurboTax, and I notice that my W-2 shows my tax withholding for NC. I moved twice last year with the same employer as I move to work with their client. But seems my tax withholding didn't ...
0
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1answer
93 views

Alternative to IRS Online Transcript (for W2, Paystub)

I am trying to get IRS online transcript to obtain needed info for my W2 and paystub for most recent period (year). However, for me it doesn't seem possible to get that classical online transcript. ...
2
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2answers
85 views

Incorrect name on W-2

In one of my W-2 forms my first name has been mispelled by a character. However, all other information is correct including my SSN. Do I still request a W-2c from my employer or can I go ahead and ...
1
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1answer
457 views

Negative state tax withholding on W2

An employee had elected to reduce their CT State Tax withholding per pay period, however they did not have enough calculated state withholding based on their pay to reduce the elected amount. They ...
2
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0answers
67 views

correcting a W-2 showing 401k contribution as taxable

My employer made a profit-sharing contribution into my 401k, and they are including it in my taxable income. 1) Is this contribution taxable? I think it is not taxable. The IRS says: "Your employer'...
0
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2answers
331 views

W2 & Self-Employment Tax - Taxed Twice?

If I'm paying self-employment tax on Schedule 4 (Other Taxes), why is my self-employment income also included in my taxable income? Aren't I being double taxed?
1
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0answers
39 views

What tax forms should I expect if I exercise and sell options from a company where I am no longer employed?

This article suggests that if I were to exercise options that I was granted as part of an ISO grant and then sell them in the same year, the bargain element would be recorded in my W-2 form. What ...
1
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1answer
200 views

I'm an F1 Student that has an W2 Form from volunteer work, am I in trouble?

I worked in a film last year and I did it voluntarily because to my knowledge I'm not supposed to be paid by non other than the university. They made me sign some documents because international ...
0
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0answers
95 views

HELP w-2 and 1099 during a divorce

In the middle of a divorce were we owned a company contracted with another to provide management and advisory. I was also employed as an employee for same company we contracted with. We split last ...
0
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5answers
205 views

Is it worth to pay for TurboTax when filing one W2?

Is it worth to pay for TurboTax when filing one W2? Or just use its FREE version?
5
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2answers
158 views

Employer did not withhold taxes on last 3 pay periods (W2 employee)

I was a W2 employee at a startup. For the first several months of my employment my employer withheld taxes normally. Later, the company experienced financial problems and was unable to make payroll ...
5
votes
1answer
242 views

How to deal with IRS notice during the government shut down?

Last friday, I received a mail from the IRS stating that there was a discrepancy in my filing of personal taxes for 2016 vs what was reported by other institutions. The letter did not go into detail ...
0
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1answer
49 views

Can W2 salary be negotiated when removing healthcare plan?

As a W2 employee, I will get $4,500/mo plus benefits. One of the benefits is that they will pay half the healthcare plan that I select from the options available. In my case, it's about $400, so I pay ...
0
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1answer
69 views

Downside to W2 with base salary and allowance?

This is simply an example, so please bear with me. ExxonMobil (headquartered in TX) offers me a software development position as a W2 employee, with my total compensation being $5,000/month. They ...
2
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1answer
158 views

Why is Social Security & Medicare tax higher as W2?

I was comparing how much I'd pay in Social Security as a 1099 and as a W2. As a W2 employee, my Social Security and Medicare total is $9,180 while my total as a 1099 is $8,478. Why the difference ...
1
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2answers
110 views

Can 1099 get allowance to reduce taxable income?

I posted this question anonymously, but I can't add edit or delete, so I decided to repost. I'm a software developer for a fortune 500 company (in Texas) and I get paid $5,000/mo as a 1099 contractor....
0
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1answer
412 views

Can 1099 contractor receive per diem and car allowance?

As a W2 worker for a US company, my monthly pay was divided into 3 quantities: $X in salary, $Y in per diem, and $Z in car allowance. The benefit was that I would only pay tax on the salary, so my ...
2
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1answer
602 views

working as an european self employed for an USA company

I was wondering why companies from USA are are searching for remote developers from USA, even if the working contract is a W2? (I've seen that many companies have a requirement that the developer ...
0
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1answer
98 views

Roth IRA issues

I opened up a Roth IRA in June of 2018. I was originally paid $6,000 as a contractor (with a 1099). I put $5,500 into the Roth IRA. I then thought that I wouldn't be able to use a Roth IRA with a 1099,...
1
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1answer
107 views

USA 2018 tax write-off - Meals for Employees

We do a lot of work with 1099 contracted "employees". Does the food write-off count for w9 contractors or just w2 employees?