I recieved a large sum this past March, but do I have to wait until 2006 tax season comes around?
205190
You will have to wait until next year to file that income since it was recieved in 2006.  What you can do is pay estimated taxes on the amount you just recieved if you haven't already been taxed on it.
498914
Generally, yes there are penalties.\n\nHowever, the IRS provides for a safe harbor in that if you pay in through withholding and estimated tax payments the smaller of the following:\n\n1.) 100% of your 2005 taxes (110% if your AGI is above $150K this year), or\n\n2.) 90% of your estimated 2006 taxes;\n\nyou are deemed safe from underpayment penalties, provided the estimates are made timely.  You would then pay anything due at the end of the year.\n\nWhile it may seem that you can just make this payment for the 4th quarter, which is due Jan. 15, 2007, the problem you may have is that you should have been making payments since April 15, 2006, so unless the amounts are very small, I believe that you will be subject to penalties based on what you have described.\n\nI would recommend that you make this 4th Q E/S to minimize the penalties.
328400
You can choose to have some taxes taken out before you receive the money or receive all winnings and pay at the end of the year.  I suggest having them taken out.  It will probably be a flat rate of about 35% or just ask for the max.  You should receive a W-2G in January from the govt. You should report it on line 21 of a 1040. Depending on what your income was before you may not qualify for some tax credits.
215196
File your 2005 return on time if possible.\n\nFile all of the returns in separate envelopes.\n\nIt doesn't matter if you mail them all at the same time or staggered.  By separating them into individual envelopes, they will be handled separately.\n\nYou might even indicate on the outside of the envelope which tax year is contained inside.
177659
Since you're getting the money w/o tax withholding.  You should also look into paying estimated taxes.  Otherwise, if you owe taxes when filing tax return, you might get charged with interest for the tax payment due.
289688
I would do an "estimate" of what you think your entire income for 2006 would be and match that up against what the current tax rates are to figure out what you need.\n\nIf you are truly concerned or have cash flow issues, you might want to check with your local accountant about being paid a salary and increasing your withholdings to the state, even at last payroll of year-end.\n\nTo the best of my knowledge, the government considers withholdings as being paid "evenly" during the year, even if they were remitted in a December payroll.  That way if your income does increase you will not have to worry about underpayment penalties. \n\nGood luck.
28545
If an employer has a good current address on file and doesn't send you your W-2 before 31 January, then contact the IRS and it will no longer be a problem.  Also, the IRS may extend your deadline past April 15th!  With buy-outs, you'll have to contact the IRS, but I am sure that when a company is bought out, so are the records and the responsibility to send out W-2's.
11750
They still have to file payroll tax returns they are required to send you the W2, so look for it in your mail.  If you do not get it soon try contacting them.  You are supposed to have it in your hand on January 31, 2006
109811
If you have last years taxes look on your 1040. I'm not sure where else to look
216450
If you filed last year, then the place that did your taxes for 2004 will have one for you. If not, then call the CRA and they should have a copy of one for you. I work at a tax place, this is a liable answer, lol.
7276
Actually, you need to include the recovery amount as part of your gross income the year you got them.\n\nFor instance, you got 2001 taxable year state refund in 2004.  You need to include the 2001 state refund (part or all) in the tax year 2004.\n\nAnyhow, you should have got a 1099-G in the year 2004.\n\nOf course, Pub 525 tells you how to determine what is the correct amount of recovery. \n\nI received a Form 1099-G, for my state tax refund. Do I have to include this amount as income on my return?\n\nIf you did not itemize your deductions on your Federal tax return for the same year as the state or local tax refund applies to, do not report any of the refund as income. \n\nIf you itemized deductions on your Federal tax return for 2003, and received a refund of state or local taxes in 2004, you may have to include all or part of the refund as income on your 2004 tax return. Report your taxable State or Local Refunds on Form 1040, Line 10. You cannot use Form 1040A or 1040EZ. Refer to Tax Topic 405, Refund of State and Local Taxes , and Publication 525 , Taxable and Nontaxable Income , for further information.
75350
Well I am assuming your CPA has already filed your corporate return since the deadline was March 15.  Unless you filed for an extension.  If your corporate return was completed and your personal return has already been e-filed it takes approx 2 weeks for the money to be direct deposited into your account.  If you chose to have a check mailed to you it should take roughly a month before you receive your check.
476402
Generally, you must be "actively employed" at the time bonuses and commissions are paid.\n\nHaving said that, I think that you are eligible for both.\n\nThe bonus, since the payout is based on the calendar year Jan - Dec, 2006, and you were "actively employed during that period, and obviously contributed to whatever success the company had during that time, should be due and payable to you after March 31, 2007.\n\nThe commission, you invested time and effort into the sale, you were "actively employed" at the time of the sale, and if the customer paid the contract amount before you left, you would have received the commission.  I believe that you are entitled to that payout as well.\n\nCheck with the local Wage and Hour Division of the State Department of Labor to determine if you are eligible for the payouts, then ask the HR Department if you will be getting them.  If they say no, file a complaint at the Wage & Hour Division.
119759
The have to send them out by Jan 31st. They should have them to you by then corporate taxes are to be filed by March 15 so if they do their taxes on time you know they can have your 1099 to you before April
124996
No. Your six month saving goal is not met.\n\nWhy? \nEmergency funds need to be held in the appropriate account. A demand account, savings, where you can get at it at will without having to wait for it. \n\nShould you have an emergency, then you can get at it - immediately - as emergencies usually do not give notice.\n\nGood Luck!
286568
Seek the advice of a local CPA.  Besides the taxes that are due, you'll have to pay interest and penalties.  If you haven'te made a lot of money, it might not be too painful for you. \n\nListen to your wife and make sure you file a tax return every year from now on!
174866
You still have to file a tax form because you actually did earn money.  Sad, but true.  Since you don't want to pay e-file, do a written one and since it's miniscule the math is simple.  Remember, the 17th is the absolute final day to get those returns postmarked in the post office.  So grab a form and get to it.