W2 seems terribly wrong.....

[Malice]

What is the name of your state? MS

I finally tracked down my w2 today from my only job last year. It says I made $3200 in taxable income, yet they only witheld $8.37 in federal taxes. I know I claimed zero dependents, I always do. So how on earth is it possible that they only withheld 8 dollars? I asked the personnel office at the employer and they said it's because of how I claimed dependents... but this w2 covers jan 04-april 04 and you see what they took out.... I also worked at the same place for nearly the whole month of Dec 03 and when I got my w2 for 03 they only withheld 8 dollars and some change on that one too, which made sense for barely 2 paychecks. It doesnt add up for 04 though and i'm afraid *insert massive well known superstore chain here* messed something up and we're going to get screwed out of our return when I file jointly with my husband.

I have no idea what to do...so any help is greatly appreciated.
Thanx
Malice

Originally Posted by Malice

What is the name of your state? MS

I finally tracked down my w2 today from my only job last year. It says I made $3200 in taxable income, yet they only witheld $8.37 in federal taxes. I know I claimed zero dependents, I always do. So how on earth is it possible that they only withheld 8 dollars? I asked the personnel office at the employer and they said it's because of how I claimed dependents... but this w2 covers jan 04-april 04 and you see what they took out.... I also worked at the same place for nearly the whole month of Dec 03 and when I got my w2 for 03 they only withheld 8 dollars and some change on that one too, which made sense for barely 2 paychecks. It doesnt add up for 04 though and i'm afraid *insert massive well known superstore chain here* messed something up and we're going to get screwed out of our return when I file jointly with my husband.

I have no idea what to do...so any help is greatly appreciated.
Thanx
Malice

What do your paycheck stubs show?

[Malice]

I don't have the stubs anymore, lost a lot of stuff in sept hurricane flooding... but I think I would have noticed had they not been taking taxes out, atleast I hope I would have

[Malice]

I guess all I really want to know is...is this possible, for them only to take out 8$, is it more likely I paid my taxes and the W2 is wrong, or I'm going to have to pay taxes on these earnings when I file?

Originally Posted by Malice

I guess all I really want to know is...is this possible, for them only to take out 8$, is it more likely I paid my taxes and the W2 is wrong, or I'm going to have to pay taxes on these earnings when I file?

This is a mathematics question.

Pick four weeks at a random from last year when you were paid.

Figure out how much you were supposed to get paid.

Figure out how much was supposed to be deducted.

Look at the deposits for those weeks.

Employer has written documentation; you do not. Who will IRS believe?

[Rhubarb297]

Originally Posted by Malice

What is the name of your state? MS

I finally tracked down my w2 today from my only job last year. It says I made $3200 in taxable income, yet they only witheld $8.37 in federal taxes. I know I claimed zero dependents, I always do. So how on earth is it possible that they only withheld 8 dollars? I asked the personnel office at the employer and they said it's because of how I claimed dependents... but this w2 covers jan 04-april 04 and you see what they took out.... I also worked at the same place for nearly the whole month of Dec 03 and when I got my w2 for 03 they only withheld 8 dollars and some change on that one too, which made sense for barely 2 paychecks. It doesnt add up for 04 though and i'm afraid *insert massive well known superstore chain here* messed something up and we're going to get screwed out of our return when I file jointly with my husband.

I have no idea what to do...so any help is greatly appreciated.
Thanx
Malice

It's very possible, indeed probable. If your paycheck is below a certain level, regardless of the dependents you claim, federal income tax withholding will cease automatically. I've seen that happen on second jobs before. Since you only made $3200 in taxable income, I think that's quite possible. My guess is the W-2 form is right.

[Malice]

I finally got ahold of the corporate payroll office and asked them to look back at how I claimed, they said I claimed 1 (but I HAVE always claimed zero for every job I have EVER had so i'm confused on how that happened, but anyway)..... So if for some strange reason I claimed 1, and my husband claimed both me and my son on his, am I going to be in trouble for us each claiming that 1 dependent? And I assume thats why so little was taken out, atleast I hope.

I'm so confused now, and we are going to file monday, i'm scared to death this isnt going to be an easy refund.

~Malice

[Snipes5]

Originally Posted by Malice

I finally got ahold of the corporate payroll office and asked them to look back at how I claimed, they said I claimed 1 (but I HAVE always claimed zero for every job I have EVER had so i'm confused on how that happened, but anyway)..... So if for some strange reason I claimed 1, and my husband claimed both me and my son on his, am I going to be in trouble for us each claiming that 1 dependent? And I assume thats why so little was taken out, atleast I hope.

I'm so confused now, and we are going to file monday, i'm scared to death this isnt going to be an easy refund.

~Malice

There is no reason to be scared to death. Withholding allowances won't get you in trouble unless you are obviously trying to avoid paying ANY tax, such as claiming 15.

It's hard to say how your taxes will turn out, not knowing your income and deductions, but you should be fine, unless your husband made more than say $50,000, and had almost nothing withheld.

Either way, the IRS won't be knocking on your door over this.

Snipes

[Malice]

Well thats a relief. I'm not sure what differnece it makes, but there are no deductions. We qualify for child credit, and EIC (atleast we did last year). Total earnings between the two of us for the year is like 24k and they took like 1400$ in federal from him which we should get back in full, unless of course I have to pay for what they didnt take out of my checks, which is where my confusion comes in.

But I guess we will see how it goes tomorrow when we file. I appreciate all the help.

Thanks,
Malice

[Snipes5]

You know, if you're getting back everything they took out of his pay, along with EIC and Additional Child Tax Credit, you would actually be fine if they withheld NOTHING from either your pay or his.

You've actually given the Government an interest free loan by allowing them to withhold tax that you didn't and won't owe.

Your refund will probably be over $3000 including the $1400 withholding.

Snipes

[Malice]

Good call Snipes... $3099 to be exact. But I owe my state $38.00 because they never took any state out of my wages. But atleast it all worked out, and we got a decent refund.... want to thank you guys again for the help.

~Malice