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#[email protected]%^ &*#%&@

edited February 2011 in Let off some steam
At 2pm on January 31st I get this call: "Our accountant says the money we gave Ralph in lieu of the prize he won at the Christmas Party 2 years ago needs to be added to last years W2?"

Amended returns and its not even Feb 1st.

I don't understand how both the CFO and Controller signed off on this.

Comments

  • Um, how about it needs to be added to the W-2 in the year in which the prize was given, oh, tax preparer? :roll:

    OK, so theoretically it maybe COULD be added to 2010, but why? If you're going to have to do a W-2C anyway, I'd do it for the actual year involved.
  • Because they didn't pay him till the following January. They had a year to clarify how to handle it but I guess they didn't bother to ask anyone till today when the employee said "Why do I have both a W2 and a 1099?"
  • ***sigh***

    Which is why cash paid to employees should always, always, always be paid through payroll. D'oh. I'm preaching to the choir, huh? :roll:
  • #$@%^ &*#%&@ Part II

    At 4:20pm: "We gave you the wrong numbers for Randy's moving expense."



    Hahhhhhhahahahahahahahhahahaha.

    And they can't figure out why I'm cranky today :evil:
  • But isn't the good news that you can simply do a "void" before transmitting and a "corrected" W-2 instead of a W-2c? You may have to correct the Form 941 for FICA, but that does not have to be done right away - you have the entire quarter. And I am sure there will be more, so you can do them all at once.

    Is Randy's moving expense taxable?

    Am I miscalculating on the party prize? When you say "last year" you mean 2010? And two years ago is 2009 right? Even though that is really only one year ago?

    We are in dire need of accounting professors - ahem - we are in dire need of accounting professors who understand the practical aspects of payroll - not just the theoretical aspects of financial reporting.
    Word is that 500-700 are retiring within 5-10 years (since 2008) and there are only about 140 newly minted PhDs graduating each year - and 40% of those are from other countries and may not stay in the US.

    Let anybody you know that might be interested that I am available :wink:
  • I had an airport manager once who gave spot bonuses in cash out of his pocket, then expensed them. Fortunately the controller, who was new and had hired me, thought that didn't sound right and ran it past me. That stopped pronto.
  • But isn't the good news that you can simply do a "void" before transmitting and a "corrected" W-2 instead of a W-2c? You may have to correct the Form 941 for FICA, but that does not have to be done right away - you have the entire quarter. And I am sure there will be more, so you can do them all at once.

    Is Randy's moving expense taxable?

    Am I miscalculating on the party prize? When you say "last year" you mean 2010? And two years ago is 2009 right? Even though that is really only one year ago?

    Oh - I'm very glad this was all caught before the W2's were filed but it chaps me that I'm the only one whose been here almost every weekend (alone) so all my ducks were in a row only to have A/P, the Controller, and the CFO show up with shotguns and kill all my ducks on the 31st. I'm frustrated that the Controller signed off on all these transactions only to hear her say things like "They don't pay me enough to work more than 40 hours." when she makes literally double what I make and I've been here every almost every weekend. I wouldn't mind if the mistakes were affecting HER but they're not. She's not someone that will own her mistakes and will usually just shrug and say "Oh well." to the havoc she wreaks on others.

    Well his moving expense was both taxable and non-taxable - the breakdown was given to me incorrectly. The explanation that was given included the phrase "on the down low" so you can guess what I'm dealing with.

    Yes, it was the '09 Christmas party but the door prize wasn't paid till January 2010.

    This ship is infested with rats and is sinking quickly. If we're not sold in the next 3 months, we'll likely end up in bankruptcy.

    And you're exactly right David, A/P doesn't care about anyone but A/P. Actually with the exception of a few rare souls most people here don't care about anyone but themselves.
  • "They don't pay me enough to work more than 40 hours."
    Sounds to me as if it might be better if they paid her even more to not come in at all :roll: But there are lots of folks who are paid less than they think they should be paid who do less (or more if it is damage) than they should be expected to do.

    As for me, all I want is less to do, more time to do it, and more pay for not getting it done.
  • Our AP person comes in at 5 a.m and works 9 hours each day Monday through Thursday and 4 hours on Friday. Several of us have asked why she can't work "core business" hours, but were told that she either has another job to go to or needs to leave because she drives 1 1/2 hours to her husband's house. So if we have questions, we can ask her "backup". No Finance supervisor starts at 5 a.m. so she is bascially in the office unsupervised--do we think she is actually working???? Also, she has a big gambling problem too. She took out a second mortgage on her townhouse for gambling money, but couldn't keep up the payments. So it was foreclosed on. She owed state taxes on the "winnings" that she gambled away and was going to declare bankruptcy until she found out she would still owe the tax. She needed to buy a car, but her credit was so bad she couldn't get a loan, so her then boyfriend (whom she married) bought it for her. No one in Finance seems to think this might be a person that shouldn't be in an AP position though. :roll:

    She is such a crab so it is next to impossible to get an answer from her let alone any help with anything. But she sends crabby emails, that she copies her manager on, when I send her incomplete paperwork or ask questions of her.

    So I don't expect any help from her with regard to W2 items!

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