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| *Loan,banking and credit>>>tax information |
I was mistakenly filed as exempt for Federal taxes on my 2006 W4. Should that information appear on my W2? |
My company screwed up when they switched over to a new Payroll system, and since I was direct deposit, I didn't realize until tax time since I wasn't receiving paystubs. No, it won't show on your W-2, except that if it was that way all year, your federal income tax withheld would be zero. If your W-4 allowances are now showing 0 and you're not showing exempt, then taxes should be being taken out. Normally, even if you have direct deposit, the company will still give you a paystub, just not a check. Don't you get anything that shows how much is deposited and how much is withheld and for what? Unfortunately all that your employer withheld was for Social Security and Medicare tax, which are not credits on your Individual Income Tax Return (Form 1040). Zero Federal Withholding - You've got some taxes to pay. If you cannot afford to pay your taxes, file an installment request with your tax return. It is quite unlikely that you have any recourse against your employer. It was up to you to discover the mistake. Make sure you contact your employer immediately by giving him a revised W-4 showing 0 or 1 allowances, Single or Married. Call the individual tax help line at 1.800.869.1040. They can tell you what you need to do. The W4 information shows up on some W2s but not all. Either way, we are all responsible for our own taxes and our own withholding. If your company skrewed up your withholding there is really only one thing that you can do: Get out the checkbook. |
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