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Strannix
LSU Fan
Member since Dec 2012
1660 posts
Online

W2 overstating earnings

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.


Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
121877 posts

re: W2 overstating earnings
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)


drewnbrla
LSU Fan
The Dark Side of the Moon
Member since Mar 2011
5694 posts

re: W2 overstating earnings
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.


Strannix
LSU Fan
Member since Dec 2012
1660 posts
Online

re: W2 overstating earnings
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)


drewnbrla
LSU Fan
The Dark Side of the Moon
Member since Mar 2011
5694 posts

re: W2 overstating earnings
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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tigerzfan2000
LSU Fan
Busy Corner
Member since Sep 2009
157 posts

re: W2 overstating earnings
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.


Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
17580 posts

re: W2 overstating earnings
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.


Strannix
LSU Fan
Member since Dec 2012
1660 posts
Online

re: W2 overstating earnings
Thank you sir


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The Future
Iowa State Fan
Smallville, KS
Member since Oct 2009
22661 posts

re: W2 overstating earnings
Are you or were you on public assistance?


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BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
43109 posts

re: W2 overstating earnings
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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Htown Tiger
LSU Fan
Houston
Member since Sep 2005
1950 posts

re: W2 overstating earnings
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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