anonymous
 |
at the end of the year when you file a return you'll actually owe money instead of getting a return...this is because they haven't taken any out over the year...so you should save up some to pay that bill....you will have to file at the begining of next year like everyone else. |
|
Stinky
 |
You do pay taxes through your paycheck, look at your pay stub and you'll see. |
|
Poet G
|
Get a self employed form. You have to send in taxes on your income every so often, and you have to pay both the employer's and the employee's Social Security tax.
http://www.irs.gov |
|
starbrite.
 |
Their caring you as a sub contractor.That means you haft figure your own state and federal taxes and file them,IF you think you aren't sure,contact
a tax person.IT might cost you,but your ahead in the long run. |
|
Amanda H
|
If taxes aren't being withheld from your payroll check you are probably being paid as "contact labor" . You are responsible for keeping your own records & will have to pay annually or quarterly depending on which state you live in. |
|
m
 |
They must. Have you just started working at this job as an independent contractor? I so, they won't take out taxes until the new year. |
|
tagindstry
 |
Good job on having a job and being able to live on your own.
Depending on your job, they should be taking taxes out already. Your paystub will show how much they are taking out. Did you fill out a w-2 when you applied to work?
Did you fill out Tax Exempt? If you did then no taxes are being taken out. Also if you are a 1099 (self employed employee) no taxes will be taken out. You will get all your tax documents in the mail before the end of January in 2008. Then you need to go to a tax person or online like (hrblock.com) to do your taxes.
being that you are on your own, and now working, you may want to consider giving yourself protection and the ability to ask questions regarding taxes, irs audits, speeding ticket representation and so forth.
Take a minute to check out http://www.dontgowithoutit.com and highly consider this for your future and your protection. |
|
additude
 |
You didn't mention what you do for a living. If you're a waiter/waitress, alot of resturants take the "check" that you receive and pay it toward your taxes.
If you're not a waiter/waitress, you might be considered "self employed" and there are certain forms that you use when you file your taxes. You'll see them at your postoffice or library in January. |
|
freshmeatz
 |
Depending on the state where you reside you can pay your taxes in quarterly installments or opt for your employer to file the proper forms for them to with hold your taxes.. they should be doing this anyway... |
|
cattbarf
|
The IRS. File a quarterly estimate of income tax and send in the tax computed. If your state has an income tax, they will be happy to take some money off your hands the same way. HOWEVER, if you make less than about $ 11000 you are off the hook with the Feds. |
|
servant
|
Here is the deal. In 2007, if filing as single (using a 1040EZ) if your income was between 0 and $7,825 the IRS will tax your income at 10%. If it was between $7,825 and $31,850 the IRS will tax you $782.50 plus the portion of your income that exceeds $7,825, but not $31,850 at 15%. Don't worry, if you file a tax return, the IRS will not come beat down your door for a $800 check. As a taxpayer, by the mere fact that you are living and breathing, you get an exemption of $3,400 called your "personal exemption". Most likely, you are not earning an income that you will actually have to pay taxes on. The fact that your employer is not withdrawling taxes from you pay means that you not in the "hole" with the IRS. This is becuase since you haven't paid anything in, its a wash. If you did file a return with no taxes paid during the year, at your income level, you might receive a letter from the IRS saying you have no need to file.
In my opinion, the federal goverment probably would prefer you not to file. The longer they don't hear about any of your income, the less they will have to pay you in social security benefits and medicare. There are alot of people out there that are paid "in cash" or "under the table". They think it is a good thing, but it ends up biting them in the butt later on. If you pay nothing, or very little, into Social Security and medicare, don't expect to draw much later on in life. Not that I am saying S.S. is a retirement fund, but people that get paid "under the table" usually don't save money or invest in mutual funds. They get to old to work and then have absolutely nothing to fall back on.
Of course I am not advising you one way or another, but hypothetically, you could forego filing any taxes this year and no, the IRS wouldn't come throw you in jail for tax evasion (they have bigger evaders to fry then most of us). In this situation I would advise you to either insist that your employer withhold taxes or find another form of employment that will. Later, that social security benefit will help out in retirement age. Oh, and start saving now for retirement. You begin saving at 18, even if it is only a few dollars a week, that savings will pay off big time in the future. |
|
Judy1
|
They don't take out any taxes? It's very possible that what they're doing is illegal, but that doesn't let you off the hook for filing a tax return and paying the taxes due. You'll pay the IRS for federal income tax and social security and medicare. Depending on where you live you will very possibly owe state inome tax, and maybe local. |
|
bryang702
|
When you file at the end of the year they will tell you what you owe. Best thing to do if you can is have your job take them out for you so you may get a refund instead of oweing |
|
chicago3200000
 |
They should. Check out your stub; they are probably taking out tons of taxes. If not, you will want to make sure that you pay the IRS a little bit so you don't get penalized for being underwithheld. |
|
Cribber
|
At the end of the year, you will either get in the mail, or you need to go get a 1040 EZ form. Or better yet, get the basic turbo tax software. For your situation that will be best. Take your W2s which you get from your employer and it will walk you through it. It is really easy to do on the 1040 EZ. At the end of the year if you owe taxes, it tells you how much and where to send. Because you didn't pay any, you don't get any back. But if you are making anywhere near a decent wage and there are no taxes taken out... well it could be a shock. Somehow though, I'm betting you will not owe any. |
|
Sierra
|
When you began working for the company you work for they should of had you fill out a W2 form,I would ask the company you are working for about this if they didnt have you fill one out..If they did have you fill one out but taxes arent being taken out i would ask them why this is. |
|
wartz
|
I have canned explanation to apparently clueless independent contractors:
Some employers try to get around paying employment taxes (social security and unemployment) and other employee benefits like workers compensation insurance by improperly classifying employees as independent contractors. If you are required to show up for work--personally--at a particular time, punch the clock, use the employers equipment and are paid an hourly rate, you are an employee. If you didn't understand the difference when you posed your question, I would be even more convinced that you are an employee. What is your preference, Slotted or Phillips? Complete an IRS Form SS-8 to get an official ruling on your status. This will help you get unemployment if you get fired. When you file your income tax return, you can attach Form 8919 Uncollected Social Security and Medicare Tax on Wages and only pay the employer's half of social security. You will still have to cough up all the income tax. |
|
The White Queen
|
Be sure that you have Form W-2. the employer should automatically deduct taxes from your pay. it would be advisable to get copies of your pay slip so you can see the breakdown of the salary you are getting. where do you live? i can recommend a very good tax consultant who can do your return. especially now that the year is almost over. |
|
Yolin
|
When you do your yearly taxes, your accountant will ask if your self-employed or something, and if you dont pay taxes now, you will then |
|
Lorraine W
|
you get a form from the goverment, i think a t-10 or somthing call your goverment tax office and they will send you the correct forms out. good luck best wishes |
|
TONY S
|
If you are being paid under the table your employer does not want you to file taxes.
Self-employed people pay their taxes quarterly. They show their income for the quarter and pay taxes for the quarter. They do not do annual income tax. |
|
Racist Answer Man
|
If your employer doesn't take out taxes you're going to get a surprise in January.
The IRS will be looking for you to 'contribute' as the Democrats like to say. |
|
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
