- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
who should pick up this bill? re: late w-2
Posted on 10/16/12 at 5:22 pm
Posted on 10/16/12 at 5:22 pm
Quick rundown: Let's say I worked for Company A and they get bought out in Jan./Feb. by Company B. The following year Company B sends out w-2's saying that the employees won't get w-2 from company A b/c of an agreement with the buyout and that all income is included in the w-2. Fast forward almost 2 years later and Company A sends out a w-2 to it's former employees saying that due to a miscommunication this income wasn't originally reported to the IRS, but the employees now need to amend their returns from 2 years ago.
So my question is... should Company A pay for the amended returns (cpa fees, penalties, interest)? I don't expect anyone to pay the tax that I owe, but between having my CPA amend the return and having to waste my own time (couple hours and counting) trying to get the IRS to drop the penalties & interest, this has become a headache that is costing a couple hundred bucks that I'd prefer to spend on something else. The reason it really chaps my arse is that when the inital w-2s were sent out, I noticed it seemed low and brought it to their attention (company A). They assured me it was supposed to be taken care of. Of course this conversation happened verbally and I wish I had done it via email.
So my question is... should Company A pay for the amended returns (cpa fees, penalties, interest)? I don't expect anyone to pay the tax that I owe, but between having my CPA amend the return and having to waste my own time (couple hours and counting) trying to get the IRS to drop the penalties & interest, this has become a headache that is costing a couple hundred bucks that I'd prefer to spend on something else. The reason it really chaps my arse is that when the inital w-2s were sent out, I noticed it seemed low and brought it to their attention (company A). They assured me it was supposed to be taken care of. Of course this conversation happened verbally and I wish I had done it via email.
Posted on 10/16/12 at 5:44 pm to ashy larry
Do you have company B's claims that all income was included in W-2 in writing?
How is company A sending you w-2 now if they got bought out by company B? Are they still functioning under company A name?
Either way, your current company B should take care of this.
How is company A sending you w-2 now if they got bought out by company B? Are they still functioning under company A name?
Either way, your current company B should take care of this.
Posted on 10/16/12 at 6:05 pm to ashy larry
This is a great example of why you should crosscheck your tax forms when you file. Then you won't have surprises like this two years later.
Nope. How you do your taxes is your responsibility.
quote:
should Company A pay for the amended returns
Nope. How you do your taxes is your responsibility.
Posted on 10/16/12 at 8:03 pm to ashy larry
Company A is responsible but it's not like you can sue them over a $250 tax prep fee.
Amend your return and move on with life.
Amend your return and move on with life.
This post was edited on 10/16/12 at 8:06 pm
Posted on 10/16/12 at 9:11 pm to tigeryat
quote:
it's not like you can sue them over a $250 tax prep fee.
agreed
quote:
Amend your return and move on with life.
It's already done. I am just venting.
Posted on 10/16/12 at 11:09 pm to tigeryat
quote:How? Company A became the property of Company B. Its obligations became the obligations of Company B, and Company B is the one who screwed the pooch. Any accounting failures or errors in tax compliance were the responsibilities of Company B since they had all decision making over the operations of Company A, or whatever came of it.
Company A is responsible but it's not like you can sue them over a $250 tax prep fee.
Company B is the ones who provided the erroneous W-2's to employee, and they are the ones who gave the bad tax advice to their employees. If I were an employee I would consider filing a class action lawsuit on behalf of all employees who are incurring costs associated with Company B's negligence in complying with the tax laws and regulations.
Posted on 10/17/12 at 7:22 am to Poodlebrain
Who knows what really happened here? It was probably an asset sale A to B, and a miscommunication to A's employees by A and B. Looks like in the end, A determined it needed to file a tax return for the short period and should have W-2'd it's employees.
So who would the IRS tag for late filing penalties here? I would say A.
So who would the IRS tag for late filing penalties here? I would say A.
Posted on 10/17/12 at 8:03 am to Poodlebrain
quote:
How?
I think he was commenting that it's not worth the effort over $250.
Popular
Back to top
Follow TigerDroppings for LSU Football News