Discussion:Substitute W-2 for 1120S Officer Comp
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| Revision as of 22:42, 24 October 2009 Tax Bull (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 02:32, 25 October 2009 JR1 (Talk | contribs) (What an.....uh..) Next diff → |
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| {{ForumNewPost|UserID=Tax Bull|Date=24 October 2009|Text=OK, I have a new client with a problem and I would like your advice. 2008 1040 and 1120s have been filed. No Officer compensation of distrubutions taken so prior accountant made up a $9,000 Officer comp on the filed 1120s and did a Substitute W-2 for the only shareholder. The 1040 shows the unreported SS an Med tax on line 58. No 941's have been filed so the withholding has not been accounted for. I can't see this as proper just plugging in a figure not from the client to establish Officer Comp on the 1120s. The business should be Sch C as it only had $12k of nonpassive income. Advise please....I am facing several of these from the same accountant...}} | {{ForumNewPost|UserID=Tax Bull|Date=24 October 2009|Text=OK, I have a new client with a problem and I would like your advice. 2008 1040 and 1120s have been filed. No Officer compensation of distrubutions taken so prior accountant made up a $9,000 Officer comp on the filed 1120s and did a Substitute W-2 for the only shareholder. The 1040 shows the unreported SS an Med tax on line 58. No 941's have been filed so the withholding has not been accounted for. I can't see this as proper just plugging in a figure not from the client to establish Officer Comp on the 1120s. The business should be Sch C as it only had $12k of nonpassive income. Advise please....I am facing several of these from the same accountant...}} | ||
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| + | {{ForumReplyPost|UserID=JR1|Date=October 25, 2009|Text=What an.....uh...creative thinker. Yeah, I'm with you. A substitute W2 is for folks who didn't get a W2 but where one would have or was actually created! A 1099/Sch. C is a reasonable substitute in my opinion, otherwise, I think you're getting mail over the missing payroll filings.}} | ||
Revision as of 02:32, 25 October 2009
Discussion Forum Index --> Basic Tax Questions --> Substitute W-2 for 1120S Officer Comp
Discussion Forum Index --> Tax Questions --> Substitute W-2 for 1120S Officer Comp
| 24 October 2009 | |
| OK, I have a new client with a problem and I would like your advice. 2008 1040 and 1120s have been filed. No Officer compensation of distrubutions taken so prior accountant made up a $9,000 Officer comp on the filed 1120s and did a Substitute W-2 for the only shareholder. The 1040 shows the unreported SS an Med tax on line 58. No 941's have been filed so the withholding has not been accounted for. I can't see this as proper just plugging in a figure not from the client to establish Officer Comp on the 1120s. The business should be Sch C as it only had $12k of nonpassive income. Advise please....I am facing several of these from the same accountant... | |
| October 25, 2009 | |
| What an.....uh...creative thinker. Yeah, I'm with you. A substitute W2 is for folks who didn't get a W2 but where one would have or was actually created! A 1099/Sch. C is a reasonable substitute in my opinion, otherwise, I think you're getting mail over the missing payroll filings. | |
