Wrong W-2s?

[zxvtrp]

Mississippi.
I work for a company in Tennessee but just moved to Indiana from Mississippi.. The problem is my W-2s say i made $36,816. My bank says that my employer only deposited $27,561 in my payroll account and my copies of my invoices show I actually made $29,978. What gives? Is someone in the company trying to get me to pay their taxes? Is someone skimming money? What can I do? I've called their bookkeeper 5 times since I got the W-2s, but she says she hasn't got time to recheck it. I was planning on calling the President/Owner of the company tomorrow(Monday), but just found out his father passed away this morning. Help!! Tax time is getting close! What is the name of your state? Mississippi

 

[pattytx]

You've given us conflicting information here.

Box 1 on the W-2 form is the taxable earnings amount, not the net pay amount. There are such things as taxes, insurance, etc. which must be deducted from your pay before you get to net (the amount of the deposit into your checking account).

Now, you're talking about invoices? Does that mean you were an independent contractor, not an employee? In that case, you should have received a 1099-MISC form, not a W-2. Were taxes deducted from your payments?

 

[zxvtrp]

1099 not W-2s

You are right, I'm an independent contractor. I have no taxes taken out. I pay quarterly taxes. But my commission was 29,000. My deposits equal 27,000 and my 1099s say nearl 37,000. Something seems wrong to me. Help.
Thanks for the reply.

 

[moburkes]

You are right, I'm an independent contractor. I have no taxes taken out. I pay quarterly taxes. But my commission was 29,000. My deposits equal 27,000 and my 1099s say nearl 37,000. Something seems wrong to me. Help.
Thanks for the reply.

Have you contacted the company that you contract with? That would be the first place to start. Has the company deducted any fees from your direct deposits (background checks is the only one I can think of off the top of my head).

 

[zxvtrp]

Wrong 1099's

Yes, I keep calling the bookkeeper for the last 2 months. All she says she'll check them when she gets time. I'm getting worried!! I'm going to call the owner later this week, but his father passed on this weekend. I get along really well with him and his family & I hate to imply someone is raking the books??? All he needs is a another catastrophe??? I mean there's over $9000 deifference in what I received in my deposits and what the 1099 said I made. I hate paying taxes on money I didn't receive!!!

 

[moburkes]

And, again, has the company deducted any FEES?

 

[Gadfly]

This sounds like a math and bookkeeping issue NOT a legal one.

 

[zxvtrp]

Wrong 1099s

No there is no fee, because we use the same bank. I found out today, the vice-president quit suddenly, this morning! Boy, this is really getting scary. Should I take all my records to my tax preparer? Should I call the IRS? Help!

 

[eerelations]

The VP quitting may bear no reltionship whatsoever to your 1099 problems.

Your tax preparer is probably the best person to advise you on what to do next. (And he/she will probably tell you to contact the IRS.)