Taxpayers who fill out and file their own returns are allowed to use a year-ending pay stub if they have all the required information, including wages, withholding and employer identification numbers. Paid preparers cannot electronically file an income tax return using only a pay stub.
Filed tax returns must be complete and accurate to the best of the taxpayer's or paid preparer's knowledge. This requirement is met when all income reporting documents have been received. Pay stubs usually do not show the employer EIN and may have a different total for wages earned in the year. Paid tax preparers also are required to retain legible copies of all W-2s, 1099-Rs and W-2Gs until the end of the calendar year.Learn More
The Indiana inheritance tax has been repealed for those individuals dying after Dec. 31st, 2012. Therefore, no current inheritance tax is levied, and no inheritance tax returns need be filed currently. For individuals who died before the repeal date, an inheritance tax return needs to be filed.Full Answer >
Banks are required to notify the IRS when someone deposits or withdraws more than $10,000 in cash in one transaction or in a series of transactions. Banks are not required to notify the IRS of personal checks in any amount.Full Answer >
The U.S. Internal Revenue Service does not allow an income-tax deduction for private school tuition, according to Publication 970 (2013), Tax Benefits for Education. However, the IRS considers qualifying "tuition reductions" as tax-exempt in certain situations.Full Answer >
As a general rule of the Internal Revenue Service, a W2 form must be provided to an employee no later than Jan. 31 for the preceding year. A former employee is provided a W2 on that date as well, unless that individual requests to receive it earlier. Typically, such a request comes when a person is terminated.Full Answer >