Your W2 will list your wages and other income. Can you claim certain items to lower your tax? Not quite, but you could make sure everything looks right.
The penalty for filing a false tax return can be steep, and including monetary fines and prison time. Learn the risks of filing a false return.
Most employees and contractors will receive a W2 or 1099. For those that don’t, you can still file taxes without a W2 or 1099.
Reading a W2 can be easy. Just remember to know which wage item belongs in which box of the W2 form. You can also check the legend.
The difference between a W2 and a W4 is quite simple – one is filled out by you and the other is provided to you by your employer.
The penalty for tax evasion is no joke. There are civil consequences (like fines and penalties) and criminal consequences (like prison time).
The IRS can record tax lien on inherited property. This means you can’t escape IRS collection by giving away your property upon your death.
The IRS has an extended statute of limitations to go after fraudulent transfers. This helps them collect past due tax debt.
You generally don’t have to pay tax on personal injury and emotion distress settlements, but other types of settlements are taxable.
Some people get 1099s and others get W2s. You can deduct expenses with a 1099, but W2 pays a lower tax rate. Learn which is better for you.
