W2 overstating earnings
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W2 overstating earnings
Posted by Strannix on 2/2 at 11:43 am
I worked for one company for the month of January before I left for a new position at a new company.
I received my W2 for the one month I worked at my former scumbag employer and it overstates my earnings by about a multiple of five, is there an angle for the employer here, he's a borderline criminal.



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Posted by Powerman on 2/2 at 11:48 am to Strannix
Not sure how it would benefit him as it would increase his payroll tax burden

I'd definitely look into getting that straightened out though

I have some issues that I need to take care of since my previous employer thought it would be good to send me a WY and CA W-2 in addition to my LA W-2 even though I didn't work in WY or CA in 2012 (I did in 2011)



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Posted by drewnbrla on 2/2 at 11:52 am to Strannix
Did you somehow receive paid time off or vacation time when you worked there (all be it a month)? If so, did they disburse the funds to you upon your departure? Probably not the case but that's the only thing I can think of as to why your W2 would overstate your earnings by a factor of 5.

I'm not sure of what advantages the employer may have in overstating your income but I'm sure others on here will know what, if any, advantages may exist. Regardless, you need to have them provide you a corrected W2 before you file your taxes.



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Posted by Strannix on 2/2 at 11:56 am to drewnbrla
quote:

If so, did they disburse the funds to you upon your departure?


No, my coworker left the company the same week to come work with me and his W2 is also overstated by about a factor of 5. I have my bank statements and the amounts direct deposited into my account for that one month (January)



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Posted by drewnbrla on 2/2 at 12:07 pm to Strannix
quote:

No, my coworker left the company the same week to come work with me and his W2 is also overstated by about a factor of 5. I have my bank statements and the amounts direct deposited into my account for that one month (January)


Do you by chance have actual paystubs showing your deductions and the amounts for January? Is so, total up the amounts per deduction and use that when filing your taxes. I wouldn't use that W2 when you file at all. It has bad news written all over it.



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Posted by tigerzfan2000 on 2/2 at 12:11 pm to Strannix
This happened to a guy at my company a few years back. Come to find out a payroll clerk never terminated him and was taking his paychecks and cashing them after he had resigned from the company.


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Posted by Poodlebrain on 2/2 at 12:27 pm to Strannix
The procedures for getting an employer to correct a W-2 are here. LINK It also tells you how to file your return if the employer does not correct your W-2.


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Posted by Strannix on 2/2 at 12:32 pm to Poodlebrain
Thank you sir


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Posted by The Future on 2/3 at 1:28 am to Strannix
Are you or were you on public assistance?


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Posted by BACONisMEATcandy on 2/3 at 2:08 pm to Powerman
quote:

Not sure how it would benefit him as it would increase his payroll tax burden


It can lower his tax burden depending on what the company does and what the employees do for the company



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Posted by Htown Tiger on 2/3 at 2:37 pm to tigerzfan2000
quote:

This happened to a guy at my company a few years back. Come to find out a payroll clerk never terminated him and was taking his paychecks and cashing them after he had resigned from the company.

Definitely a legitimate reason. Someone could have easily reroutedyour checks once you left and didnt terminate you in the system for a couple weeks.



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