Accountants- Tax question- W2 related

ok- my DH worked for company that is no longer in business

we have still not recieved the W2 in the mail

my DH called the former owner- who said he has no idea

of course- he doesn't have stubs b/c the owner was hand writing checks- and I doubt the owner has any records at this point based on the convo they had today

so what can we do? can the IRS tell us what was reported?

HELP! I want my refund!

TIA

Re: Accountants- Tax question- W2 related

Did the former owner have an accountant? I use to work for a company and our checks were handwritten by our boss and I still got a W2 at the end of the year--it was sent directly to me by his accountant.

Re: Accountants- Tax question- W2 related

well your DH only received hand written checks...was he legitimately being paid on the books? did he ever receive info with his check showing that deductions for fica, social security, medicare, and state taxes were withheld?

if not--the employer may not have been reporting his income. can you contact the acct. or book keeper to verify if the money was reported?

if you think that the money was reported--you can file a substitute w-2 form (i forget the number off the top of my head) and on it you can put the name of the employer, address, etc. and put the amounts you believe your DH was paid as well as how much was withheld from his pay.

now if you think the income was reported--but that it was reported without and taxes withheld your DH will have to file a Schedule C - as if he was self employed--and state that he received his pay in the form of cash/checks. However he will be responsible for all the taxes himself -- and will pay SE tax penalty on it--which would be deducted from your refund.

obviously if you think the money was NOT reported at all and you don't want to put it on your taxes---that is something you have to figure out with DH

Re: Accountants- Tax question- W2 related

the job was on the books - a mortgage company- which is why they are no longer in business

he was 1099 - so nothing was withheld

so I guess we can look back at bank deposits and estimate it that way????

Re: Accountants- Tax question- W2 related

Re: Accountants- Tax question- W2 related

I think the only thing we can do is estimate it off the deposits

it would a monthly deposit- not weekly- so he maybe got paid 5 or 6 times last year- he stopped working there in July

so I don't think it will be hard to figure out-

thank you for your help!

Re: Accountants- Tax question- W2 related

since you should get a 1099, did you pay quarterly estimated tax (from the schedule c)?

Besides digging through your acct and finding the monthly deposits, you may want to call the IRS and ask for advice if your former employer never gave you a 1099. (Also, you have to be careful, depending upon what box on the 1099 your job qualifies for, you could be responsible for 100% of FICA costs, which puts you in a superhigh tax bracket, so it's important to figure out exactly how you should be declared)