Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 05-20-2009, 12:44 PM
Junior Member
 
Join Date: May 2009
Posts: 1
Tax Refund related question

Hi

I have two W2 from the same company because of internal changes of my employment.

1) May 2008 to Nov 2008
2) Dec 2008

When I checked the approximate tax refund in online for my Dec2008 W2, it was $2000. Would it be any chances to get the lesser taxrefund(less than $2000) if I combine both W2s. Please advice. Thanks for the help.

-NM



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 05-21-2009, 10:13 AM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,417
Blog Entries: 3
The income reported on the W-2's amounts would be combined when you are filing your individual tax return. Thus, your federal income tax liability would be based on the combined taxable income and hopefully you would still be getting the same amount of refund.

But, clearly, the tax refund would be based on the amount of federal income tax withheld from both the W-2's and these amounts would be offset against the federal income tax liability based from your combined W-2 income.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


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



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


Similar Threads
Thread Thread Starter Forum Replies Last Post
Taxes related to 1099s that I issue RenFromPenn Income 0 04-11-2009 11:54 PM
Job related medical expenses clfarms Sole-Proprietorship 0 04-06-2009 04:51 PM
tax issues related to debt settlement sweetdish IRA/Sep 1 02-05-2009 10:36 AM
Postponement of Certain Tax-related Deadlines - TD 9443 Samatg Tax News 0 01-15-2009 05:04 PM
ESPP related tax question..(and covered calls) 6781 Capital Gains 0 03-26-2008 12:19 AM

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
 
 
 

» Recent Tax Q&A
No Threads to Display.