AmericanWannabe
Registered Users (C)
No Title
W-2 does not maen you just pay the end of year or April 15.
Your employer must withhold your fed taxes by laws (*).
You can claim a number of exempt by filling a W-4 form.
In otherwords, everyone must pay taxes quarterly -
For W2, your employer does that for you and For 1099,
you must do it yourself.
(*)I forgot which show, maybe "60 minutes" or "48 hours".
Some companies do not withhold taxes for their employers
because they argue that the IRS handbook only explicitly
says governments should withhold employees taxes. But
IRS says they say "include" does not mean "exhaust".
The funny thing is that many employees complain that they
are not good at saving so that if they take all pay home
they would spend them all. nothing left to pay taxes
on 04/15
W-2 does not maen you just pay the end of year or April 15.
Your employer must withhold your fed taxes by laws (*).
You can claim a number of exempt by filling a W-4 form.
In otherwords, everyone must pay taxes quarterly -
For W2, your employer does that for you and For 1099,
you must do it yourself.
(*)I forgot which show, maybe "60 minutes" or "48 hours".
Some companies do not withhold taxes for their employers
because they argue that the IRS handbook only explicitly
says governments should withhold employees taxes. But
IRS says they say "include" does not mean "exhaust".
The funny thing is that many employees complain that they
are not good at saving so that if they take all pay home
they would spend them all. nothing left to pay taxes
on 04/15