Need advice

R

Rustam

Registered Users (C)
I work for a small Company. I am getting paid more then what is required per labor certification. Recently, It was told to us that the company will pay us the gross amount and will not run the checks through payroll. So, we will get the gross amount check. Will it create a problem as far as the following are concerned

1. If I do not report this gross amount checks for 2 months when filling the taxes.
2. Should I report as extra income earned.

Please discuss.

Thanks
 
The amount is not shown or mentioned in your W2 you dont have to pay taxes. Otherwise you have to report it as earned income.

Check with your employer how they are planning to report their operating expense ( your salary) for those to months to the IRS?

Disclaimer
I am not a tax consultant or a CPA. You should verify any information provided by your accountant.
 
Originally posted by rawager
The amount is not shown or mentioned in your W2 you dont have to pay taxes. Otherwise you have to report it as earned income.
Click to expand...

It's income, wether it's on the W2 or not. Not declaring it is tax evasion, which can subject you to big penalties, interest and criminal prosecution.

Decide for yourself how likely you are to get caught, but rest assured that your employer is certainly deducting that amount.
 
TheRealCanadian is correct. Even if that amount is not included in your W-2 it is still taxable as income to you and not reporting it would be incorrect.

To be correct and stay within the tax laws, it should be reported on your tax return. You do not want to jeopardize green card approval over this, I imagine.

Good luck :)
 
You must log in or register to reply here.
Top