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sam a | My employer has been paying me cash, with no taxes taken out for three months. What will happen come tax time? |
I had been receiving a paycheck, stub and taxes were always taken out until about three months ago. Since then, I have been receiving cash. I am being paid in full, with no taxes taken out. My concern is whether or not I will owe the government money at the end of the year. Is it even legal to pay your employees this way? And shouldn't my boss communicate to me what is going on?
Additional Details
I had been receiving a paycheck, stub and taxes were always taken out until about three months ago. Since then, I have been receiving cash. I am being paid in full, with no taxes taken out. My concern is whether or not I will owe the government money at the end of the year. Is it even legal to pay your employees this way? And shouldn't my boss communicate to me what is going on?
*What if he is not even documenting my pay at all? It's very hard to document cash transactions, especially when he is giving my pay to me in random chunks (a bit of cash every few days, no structure to it at all). |
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Charles G
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If you are an employee, and not an independent contractor, it is illegal. If you are an independent contractor, it is not illegal but unorthodox. You are either one or the other; you employer cannot treat you as an employee sometimes and an independent contractor sometimes. That is strange.
His actions may indicate he is in trouble financially. If he is, that would be the last thing he would want to communicate to you.
At the end of the year, you employer should give you a 1099 showing what money he paid you. You would then be responsible for paying the income and FICA tax from that. He should also give you a W-2 for the times he was taking out taxes.
If he doesn't, that is illegal. |
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v b
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1. You have an obligation to report your income and pay your half of Fica/MC (7.65% of your pay) as well as any income tax due.
2. Your employer had an obligation to withhold that 7.65%, match it and pay it into the system along with FUTA (unemployment system).
The fact that he's not withholding your 7.65% guarantees that he's not paying his half and is most like give you a 1099-Misc at the end of the year (you still accomplish step one, but file an SS-8 with the IRS and a form 8919 with your tax return).
In the meantime, find another job. Either he's suddenly against the tax system, thinks he's found a great way to save on taxes or he's on the verge of going out of business. None of these justify your staying. |
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Kaska
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This is called "being paid under the table"
It is illegal. Your employer most likely is not reporting you as an employee.
You need to ask about taxes. |
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Judy1
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No, it's not legal for the boss to make this switch, yes he should have talked to you about what he's doing (which he really shouldn't be doing in the first place), and yes you'll owe a lot when you file.
Keep very good records yourself of what cash you are given. Also hang onto any pay stubs you have. This is a train wreck waiting to happen. |
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John M
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you need to make quarterly payments to the IRS for the taxes you expect to owe on any income where the employer does not withhold taxes. |
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Pat G
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It all depends what he reports on your W-2. |
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Jss
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You must report this income on your tax return. You may now be working as independent contractor.
You are self employed or independent contractor. You will report your income and expenses on schedule C or C-EZ (Form 1040). This income is subject to SE tax at 15.3%. Read about self employed (or independent contractor) tax filing and payment of estimated taxes: http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html |
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Eastern Roamer
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As people have already said, you may be considered an independent contractor and owe taxes at the end of the year, or you might be getting paid illegally - which beyond your own conscience, is not much to be concerned over. The IRS will not haul you off to jail over a couple hundred dollars.
While this should be a concern, I would be more concerned over what happened about three months ago to make your employer decide to give you cash instead of legitimate paychecks. This could be a sign of trouble, I'd have an exit plan if I were you. |
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rtfm
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Yes, you will owe the money, yes, your boss should communicate to you what is going on, and yes, this is *probably* illegal.
The first step should be to talk to him about it. Find out if he's planning to give you a 1099 form at the end of the year for the money he's giving you in cash. If so, he's for some reason begun to treat you as a self-employed contractor, and you will be expected to file self-employment forms and turn in your own taxes to the IRS.
This is what some employers do to avoid paying Social Security and Medicare taxes for their employees. It's a pretty slimy trick. |
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M O
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It is legal to pay your employees this way, as so much you are an independent contractor, and you have filed a W-9 with this company. You should receive a 1099 at tax time showing how much you were paid, which you will have to pay taxes out of. |
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