vania-janet/multiturn-rag-retrieval-data huggingface dataset:
The amount earned is taxable. It needs to shown as income from other sources. Although the last date for paying Advance tax is over [15 March], there is still time to pay Self-Assessment tax till 15 June. If the tax amount due is less than 10,000/- there is no penalty. If the tax is more than Rs 10,000/- there is penalty at the rate of 1% per month from March, and if the amount of tax exceeds 40% of the total tax, there will be additional 1% interest from December.  The tax can be paid online via your Banks website or using the Income Tax website at https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp The form to be used is 280. You can use the Income tax website to calculate and file your tax returns at https://incometaxindiaefiling.gov.in/ or use the services of a CA. Edit: If the income is less than expenses, you need not pay tax. Maintain proper records [receipts] of income and expenses, if possible use a different Bank account so that they remain different from your main account.  The tax to be paid depending on your income slab. The additional income needs to added to you salary. The tax and slabs will be as per this. There is no distinction on this amount. Its treated as normal income. All Tax for the given year has to be paid in advance. i.e. for Tax year 2013-14, 30% of total tax by 15-Sept, Additional 30% [total 60%] by 15-Dec and Balance by 15-Mar. Read Page 3 and page 10 of http://incometaxindia.gov.in/Archive/Taxation_Of_Salaried_Employees_18062012.pdf
"As long as you didn't ""forget"" to report any income with regards to these accounts, you should be fine doing that. See more information and specific instructions on this IRS site."
If you took advantage of options like a home buyers plan (HBP) you definitely need to file since you must designate how much of the plan to repay.  Your employer does not know about what you do with your money so cannot take this into account for the withheld taxes.  If you do not report repayment of the HBP it will be treated as a withdrawal from your RRSP i.e. additional income for that tax year.
I believe moving reimbursement has to be counted as income no matter when you get it. I'd just put it under miscellaneous income with an explanation.
If you do so, your take-home pay will be reduced by $2500 on each of the next two monthly paychecks because your employer will withhold this extra amount from your pay and include it in the amount sent to the IRS as income tax withheld from your paycheck. After your last paycheck for 2014 has been received, you should submit a new W-4 Form to your asking for only $417 in extra income tax to be withheld from each paycheck starting January 1, 2015, so that the expected $5K shortfall for 2015 is paid in 12 equal monthly installments. If you neglect to do this, your employer will continue to withhold $2500 extra as income tax, and you will get $2500 less in take-home pay month after month in 2015. This money will not disappear forever; come 2016 when you file your income tax return for 2015, you will receive a substantial refund because you overpaid income tax by a lot during 2015. You will not, however, receive any interest on the amount that the IRS is returning to you unless the IRS delays in sending you the refund for some reason. Alternatively, you can file a new W-4 asking for no additional tax to be withheld from 2015 paychecks, and a year from now, go through the same exercise as above: have $2500 extra withheld from the last two paychecks for 2015, right when the holidays are coming and people are shopping for gifts.
However, if you are employed by a company that exists in a tax haven and your services are provided to an employer by that tax haven company, it is the tax haven company that gets paid, not you. Under various schemes that company need not pay you at all. For example it may make you a loan which is not taxed (ie you don't pay tax on a loan, just as you don't pay tax on the money lent you by a mortgage company). You are bound by the terms of the loan agreement to repay that loan at a rate that the company finds acceptable. Indeed the company may find eventually that it is simply convenient to write off the loan as unrecoverable. if the owners/officers of he company write off your loans, how much tax will you have paid on the money you have had as loans? The taxman can of course state that this was simply set up to avoid tax (which is illegal) so you should have a balancing scheme to show that that the loans were taken to supplement income,just as one might take a bank loan / mortgage, not replace it entirely as a tax scam. Hiring tax counsel to provide this adequate proof to HMRC has a price. Frequently this kind of loophole exists because the number of people using it were sufficiently low not to warrant policing ( if the policing costs more than the tax recovered, then it is more efficient to ignore it) or because at some stage the scheme has been perfectly legal (as in the old offshore'education' trust recommended by the government a few decades ago). When Gordon Brown set out a 75% tax rate (for his possibly ideological reasons rather than financially based ones)for those who had these accounts , he encountered opposition from MPs who were going to be caught up paying high tax bills for what was effctively retrospective taxation, so there was a built in 'loophole' to allow the funds to be returned without undue penalty.
If they're included as taxable income, I think they would count under your second interpretation, that the employer paid them like any other income, and your wife spent them as educational expenses just like other students, and they would qualify for educational credits. In fact, it explicitly states: Don't reduce qualified education expenses by amounts paid with funds the student receives as: Which sure sounds to me that anything that counts as W-2 Box 1 ""Wages"" would be payments received that then the expenses were logically paid separately from. The other credit, the ""Lifetime Learning Credit"", appears to use identical language (No double benefits; and don't reduce by wages). Obviously this is just from my looking through Publication 970; there may be more nuances here and for ""real"" advice you may want to speak more to the university HR department (who perhaps have dealt with this before) and/or a real tax advisor. You might also see if you can get any sort of a ""receipt"" or even a Form 1098-T from the university of what amount was paid on your wife's behalf, to help document it is truly that she was just paid more wages and spent them on classes as far as tax law is concerned."
If you decide to report a crime in which you took part, be prepared for the consequences, and definitely don't expect to receive a reward. As with many government processes, there's a lot of red tape to cut through. Therefore, if you're looking for fast cash, you might want to look elsewhere. It can take several years to complete an investigation of tax evasion – and if there is no conviction, there is no award. Not only does the IRS have to determine guilt, it has to actually collect the amount owed before paying you. What's more, if the IRS determines that your tip did not ""substantially contributed to the Service's detection and recovery of tax,"" you will not receive an award. It's also important to note that, under some circumstances, like attorney-client confidentiality, you may not be able to report tax cheating. **Other Considerations** If you earn a whistle blower award, it will need to be reported when you file your taxes. If you're blowing the whistle on your employer and you're not planning to change jobs, an IRS audit could make your work situation extremely unpleasant. This isn't to say that you shouldn't report someone who is cheating, but it is something to consider. **What's Next** If you decide to report the person or business you suspect of cheating, use IRS form3949-A. This form asks for basic information on the tax evader you are reporting, the types of violations you believe to be committed, the details of the violation and how you learned about it. If you do not want to fill out this form, you can also simply write the IRS a letter. If you are providing your name and want the possibility of receiving an award, also submit IRS Form 211 which is an application for the award. **The Bottom Line** Underpayment of federal income taxes (and, subsequently, state income taxes) is a serious problem. The IRS encourages people to submit tips by allowing anonymous submissions and offering generous rewards for informants who are willing to identify themselves. If you can substantiate your claims and are willing to accept the potential consequences of squealing, reporting a tax cheat can be lucrative not only for the government, but also for you.
I am not an accountant, but I do run a business in the UK and my understanding is that it's a threshold thing, which I believe is £2,500. Assuming you don't currently have to submit self assessment, and your additional income from all sources other than employment (for which you already pay tax) is less than £2,500, you don't have to declare it. Above this level you have to submit self assessment. More information can be found here I also find that HMRC are quite helpful - give them a call and ask.
"I believe that is the purpose of write-offs aka ""loopholes"", to save people money on their taxes.  The tax code is an incentive system, right now there are huge incentives for corporations to organize themselves in odd ways to avoid taxes. If we restructure the tax code, the behavior will change. No sense in blaming companies for playing by the rules."
"How do I leave 0 tip and not feel guilty or make anyone feel bad? Rationalizing the wages of restaurant staff is not within the control of the wait staff. In fact, the IRS assumes that restaurants where tipping occurs will receive at least 8% of their gross receipts in tips: IRS Topic Number: 761 - Tips – Withholding and Reporting If the total tips reported by all employees at your large food or   beverage establishment are less than 8 percent of your gross receipts   (or a lower rate approved by the IRS), you must allocate the   difference between the actual tip income reported and 8 percent of   gross receipts among the employees who received tips. So, as little sense as it may make, tipping is baked into the US tax code. There's no way you can refuse to tip in an establishment where tipping is the practice and not make someone feel bad, since it will have a real impact on their earnings. If you are serious about your principles, you should exclusively patronize restaurants with a ""no tipping"" policy. They are becoming more common. If you patronize restaurant where tipping is expected and refuse to tip, then people will suspect that it's less about your principles and more about being a ""free rider""."
Most countries with income tax, including the USA, design their withholding system so that in straightforward cases, tax is withheld from each month's paycheck on an annualized basis: tax for a month is calculated on the assumption that you will keep earning the same monthly amount for the rest of the year, and the withholding is set so that the tax is spread evenly across the year. Another way of putting that is that in practice you only get the tax brackets allocated proportionately throughout the year - so up till the end of August you'll only have been assigned 8/12 of the $37450 bracket, and so on. So if your income doesn't change and your general tax affairs don't change, your paycheck also shouldn't change. If your income is irregular or changes during the year then things can get more complicated. As other answers have noted, withholdings are calculated according to tables that normally just take into account that specific month's income. There are various possible changes to your tax affairs that might cause the withholdings to change. For example there'd be an impact from any change in your contributions to tax advantaged things like health insurance or retirement, health or education savings. You might also use form W-4 to change your withholdings yourself. Note that even with a regular income that doesn't change through the year, you might find yourself either owing money or being owed a refund when you file your taxes after the end of the year. It's worth making sure that your W-4 accurately records the allowances you are entitled to, to minimize or eliminate this adjustment.
If the 'gratuity' is a payment from your previous Indian company made when you left them, then the US tax system will treat it exactly the same as wages paid by your previous company. Whether or not you need to pay taxes on your wages and gratuity will depend on whether your are considered resident in the US for tax purposes for this financial year. It is likely that you will be. Assuming you are, then the US requires that you pay tax on all income, wherever it is earned in the world. You will need to fill in a tax return and declare both your gratuity and your wages in India for that year.  India and the US have a 'double tax agreement', which means essentially that you won't be taxed twice if you have already paid tax on the gratuity and wages in India. But you do have to declare them.
"If they directly paid for your education, it is possible that it wouldn't count as taxable income to you according to the IRS, depending on the amount: If you receive educational assistance benefits from your employer   under an educational assistance program, you can exclude up to $5,250   of those benefits each year. This means your employer should not   include those benefits with your wages, tips, and other compensation   shown in box 1 of your Form W-2. This also means that you do not have   to include the benefits on your income tax return. source: http://www.irs.gov/publications/p970/ch11.html However, your situation is a bit trickier since they are sort of retroactively paying for your education. I'd think the answer is ""Maybe"" and you should consult a tax professional since it is a gray area.  Update: On further research, I'm going to downgrade that ""Maybe"" to ""Probably not, but hopefully soon."" The reason I am doing so is that there is a bill in Congress specifically to allow what you are asking, which presumes that you currently can't do this.  The Bill is HR Bill 395 ""The Student Loan Employment Benefits Act of 2013"" sponsored by rep Steve Israel (D). It has co-sponsors from both parties, so that is promising for it's passage, I suppose. However, it appears to be still early in the legislative process. If this issue is near/dear to your heart maybe you should call your congressman. Summary of the Bill: (from govtrack.us) Student Loan Employment Benefits Act of 2013 - Amends the Internal   Revenue Code to exclude from the gross income of an employee amounts   paid by an employer under a student loan payment assistance program.   Limits the amount of such exclusion to $5,000 in a taxable year. Requires an employer student loan payment assistance program to be a   separate written plan of an employer to provide employees with student   loan payment assistance.  Defines ""student loan payment assistance"" as   the payment of principal or interest on any indebtedness incurred by   an employee solely to pay qualified higher education expenses which   are paid or incurred within a reasonable time before or after such   indebtedness was incurred and are attributable to education furnished   during a period in which such employee was a student eligible for   federal financial assistance."
"You would add your daily earnings every day. For example, you work full time job (8 hours a day) at $20/hour. At the end of the 1st day of the month, you'd add $160 to your salary account. You've earned it, even though its still almost a month till you actually get paid. So its accrued. What if you don't get paid? You've accrued it already, its on your books, but not in your wallet. You might have paid taxes on it, etc. But you don't really have it. This is what is called ""bad debt"", and eventually, after you can show that the payee is not going to pay, you write it off - remove it from your books (and adjust your taxes etc that you paid on that income already). Generally, it is a very bad idea to use accrual method of accounting for an individual or a small business. For large volume business using accrual mode solves other accounting and revenue recognition problems."
"Whenever you do paid work for a company, you will need to fill out some sort of paperwork so that the company knows how to pay you, and also how to report how much they paid you to the appropriate government agencies. You should not think of this as a ""hurdle"" and you shouldn't worry that you haven't been employed for a long time. The two most common ways a company pays an individual are via employee wages, or ""independent contractor"" payments. When you start a relationship with a company, if you are going to become an employee, then you will out a W4 form, and at the end of the year you will receive a W2 form. If you are an independent contractor, (which you would be considered in this case), you will fill out form W9 and at the end of the year you will receive a 1099. This is completely normal and you have nothing to worry about. All it means is that if you make more than a certain amount (typically $600) in a year, you will receive a 1099 in the mail or electronically. The 1099 form basically means that they are reporting that amount to the IRS, and it also helps you file your tax return by showing you all the numbers you need on one form. Please remember that when you are paid as an independent contractor, no taxes are withheld on your behalf, so you may owe some tax on the money you make. It's best to set aside some of your income so you are prepared to pay it come tax time next year."
Legally, do I have anything to worry about from having an incorrectly filed W-4? What you did wasn't criminal. When you submitted the form it was correct. Unfortunately as your situation changed you didn't adjust the form, that mistake does have consequences. Is there anything within my rights I can do to get the company to take responsibility for their role in this situation, or is it basically my fault? It is basically your fault. The company needs a w-4 for each employee. They will use that W-4 for every paycheck until the government changes the regulation, or your employment ends, or you submit a new form. Topic 753 - Form W-4 – Employee's Withholding Allowance Certificate If an employee qualifies, he or she can also use Form W-4 (PDF) to tell you not to deduct any federal income tax from his or her wages. To qualify for this exempt status, the employee must have had no tax liability for the previous year and must expect to have no tax liability for the current year. However, if the employee can be claimed as a dependent on a parent's or another person's tax return, additional limitations may apply; refer to the instructions for Form W-4. A Form W-4 claiming exemption from withholding is valid for only the calendar year in which it is filed with the employer. To continue to be exempt from withholding in the next year, an employee must give you a new Form W-4 claiming exempt status by February 15 of that year. If the employee does not give you a new Form W-4, withhold tax as if he or she is single, with no withholding allowances. However, if you have an earlier Form W-4 (not claiming exempt status) for this employee that is valid, withhold as you did before. (I highlighted the key part) Because you were claiming exempt they should have required you to update that form each year. In your case that may not have applied because of the timing of the events. When do you submit a new form? Anytime your situation changes. Sometimes the change is done to adjust withholding to modify the amount of a refund.
Assuming that the jobs where you've earned money from have sent you W-2s, 1099s, etc. Then yes, you can request a Wage and Income Transcript: Shows data from information returns we receive such as Forms W-2,   1099, 1098 and Form 5498, IRA Contribution Information. Current tax   year information may not be complete until July. This transcript is   available for up to 10 prior years using Get Transcript Online or Form   4506-T.
It would be quite the trick for (a) the government to run all year and get all its revenue in April when taxes are due and (b) for people to actually save the right amount to be able to cut that check each year. W2 employers withhold the estimated federal and state taxes along with the payroll (social security) tax from each paycheck. Since the employer doesn't know how many kids you have, or how much mortgage interest, etc you will take deductions for, you can submit a W4 form to adjust withholdings.   The annual Form 1040 in April is to reconcile exact numbers, some people get a refund of some of what they paid in, others owe some money.  If one is self-employed, they are required to pay quarterly estimated taxes. And they, too, reconcile exact numbers in April.
The taxes that are deducted from you paycheck are estimated from the expected annual income you receive from the employer. In the same way, the employer will deduct from that expected annual income the tax deductions you would get for the number of dependents you specify. Hence your net income will be lower, your annual tax obligation also, which can than be calculated down to the period of your paycheck.
"Well, as you say, the instructions for form W-2 (for your employer to fill out) say You must report all employer contributions (including   an employee's contributions through a cafeteria plan) to   an HSA in box 12 of Form W-2 with code W. Employer   contributions to an HSA that are not excludable from the   income of the employee also must be reported in boxes 1,   3, and 5. However, while it's your employer's job to fill out W-2 correctly, it's only your job to file your taxes correctly. Especially as you say your box 1/3/5 income is correct, this isn't too hard to do. You should file Form 8889 with your return and report the contributions on Line 9 as Employer Contributions. (And as you say, both what the employer contributed outright and what you had deducted from your pay are both Employer Contributions.) Be sure to keep your final pay stub for the year (or other documentation) showing that your employer did contribute that amount, just in case the IRS does end up questioning it for some reason.  If you really want to, you could try calling the IRS and letting them know that you have contributions that weren't reported on your W-2 to see if they want to follow up with your employer about correcting their documentation, if your efforts have been fruitless. There's even a FAQ page on the IRS site about how to contact them when your employer isn't giving you a correct W-2 and how to fill out a Form 4852 instead of using the W-2, which I'd recommend if the amount of income listed was wrong or if there were some other more ""major"" problem with the form. Most likely, though, since it's not going to affect the amount of tax anybody will pay, it's not going to be at the top of their list. I would worry more filling out the forms you need to fill out correctly rather than worrying about the forms your employer isn't filling out correctly."