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I got an IRS Form W-2 – Does this mean I must file a 1040 tax form and pay US income taxes?
"Every January most employers across America send W-2 forms to the IRS showing the wages earned, amounts deducted and withheld as pre-payment for individual income taxes according to the W-4 form provided by the employee, and the amounts paid for Social Security and Medicare taxes. State and local income taxes withheld are also shown on the W-2 form. A copy of the W-2 form is provided to the employee who received the wage payments.
You may have received an IRS Form W-2 yourself and are wondering whether you will be breaking the law and risking fines, penalties and even imprisonment if you do not report those payments as taxable income on a Form 1040 by April 15th.
In this full presentation on this topic, Peymon Mottahedeh, founder and president of Freedom Law School, explains the laws about W-2 forms:
• What to do if you received a copy; and
• How to STOP:
- withholding of individual income taxes from your pay;
- Stop your employer from erroneously reporting your payments to the IRS on W-2 forms in the future; as well as
- Stop your employer from unlawfully deducting Social Security and Medicare taxes from your pay."
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