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Blank Room Lease Agreement Printable Form
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FAQs
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When do I have to learn how to fill out a W-2 form?
Form W-2 is an obligatory form to be completed by every employer. Form W-2 doesn’t have to be filled out by the employee. It is given to inform the employee about the amount of his annual income and taxes withheld from it.You can find a lot of information here: http://bit.ly/2NjjlJi
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How much will a doctor with a physical disability and annual net income of around Rs. 2.8 lakhs pay in income tax? Which ITR form is to be filled out?
For disability a deduction of ₹75,000/- is available u/s 80U.Rebate u/s87AFor AY 17–18, rebate was ₹5,000/- or income tax which ever is lower for person with income less than ₹5,00,000/-For AY 18–19, rebate is ₹2,500/- or income tax whichever is lower for person with income less than 3,50,000/-So, for an income of 2.8 lakhs, taxable income after deduction u/s 80U will remain ₹2,05,000/- which is below the slab rate and hence will not be taxable for any of the above said AY.For ITR,If doctor is practicing himself i.e. He has a professional income than ITR 4 should be filedIf doctor is getting any salary than ITR 1 should be filed.:)
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My company forgot to take out my fica and Medicare from my paycheck. They amended the W-2 on their own end and paid their portion of the taxes. How do I pay mine during filling?
I doubt that they “forgot.” Plus, there’s no reason for them to amend your W-2 unless they subsequently paid your employee FICA, but that’s more complicated than it may seem.If an employer fails to withhold the employee-FICA tax, the employer remains liable to pay the tax that it should have withheld. But you’re liable for it as well. It’s far easier for the IRS to collect it from the employer — the penalty is 100% of the tax amount, so the IRS will usually take that and apply it as the tax itself, if the employer doesn’t correct it himself first. In that case, you no longer owe the tax, but you owe the employer the amount of the tax (without interest or additional penalty), because he paid your tax on your behalf.Here’s where it gets complicated. Whether and how the employer gets the money back from you is a matter to be settled between the two of you — the IRS has nothing to do with it and, frankly, couldn’t care less. And assuming that we’re not in the same calendar year (which we can’t be), the employer just withholding that amount from your pay may very well violate state laws (depending on your state, obviously, but most would require your consent). In the meantime, the employer’s payment of the employee-FICA that it paid was additional wages to you, and the withholding (income tax and FICA) on that has to be taken from your other paychecks (or else the problem would occur all over again).There is a way in which the employer can get away with very substantially reduced penalties, but that applies only in cases of unintentional misclassification (as an independent contractor), and that’s not what happened to you. First, you were given a W-2, which indicates that you were treated as an employee. Second, you dont say anything about “forgetting” to withhold income tax — and that in and of itself disqualifies the employer from taking advantage of these reduced penalties. (If they withheld income tax, they obviously were not mistakenly treating you as a contractor.)
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