Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-04-2015, 09:05 PM
Junior Member
 
Join Date: Feb 2015
Posts: 1
W-2 vs. 1099

Hello...

I received a 1099 but was a full time employee (Office Manager) and after some research, believe I should've been classified as a W-2 employee. I understand I can fill out a form SS-8 for the IRS to decide. If they determine I should indeed be classified as W-2, will I owe the former employer money back? How will my taxes be determined and how long does it take? Should I just go ahead and file as 1099 until I hear from IRS, otherwise? Should I just ask the former employer for a W-2? In which case would they require me to pay them back taxes?

Thanks so much in advance for your HELP!!!



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 02-05-2015, 02:19 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,230
If they determine I should indeed be classified as W-2, will I owe the former employer money back? =>>>>you can talk to your employer about it first, and let them know that you have serious concerns. If they are not willing to cooperate then you should contact the IRS directly to let them know about your personal situation. In general, if you're doing the same job for the same company as before under the same working conditions, then your employer can not wave his magic wand and make you a contract worker to save himself the payroll taxes. Does not matter one whit if you're an hourly or salaried employee. There are some very severe consequences that can come with employers classifying employees as independent contractors when they are actually W-2 workers.
How will my taxes be determined and how long does it take? =>>>>>>you need to settle down your situation first with your ER or IRS.I guess they ‘d let you know

Should I just go ahead and file as 1099 until I hear from IRS, otherwise?=>>>>>>> IN MY OPINION, PLEASE OCNTACT THE irs FIRST, THEN
You MAY/NEED TO file a form SS-8, as you said, (You can ask the IRS to make a determination on your employee status by submitting a form SS-8)with the IRS. You file a 1040 with a form 8919. If you are an employee and your employer is doing this to avoid paying payroll taxes and unemployment insurance they'll be informed/instructed to pay you as an employee. but I guess, your problem with the employer is broader than this.

Should I just ask the former employer for a W-2? =>>>>>the fact that you were issued the 1099-MISC instead of W2, then, you are being treated as a independent contractor , NOT a regular employee but a self employed taxpayer filing Sch C of 1040.
In which case would they require me to pay them back taxes=>>>>aslongas you get paid by your employer Imean as you received taxable income, yes.unless you pay taxes to IRS/state by the due date then yes. So you need to p[ay taxes first to IRS/state.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning