What would be the implications of a company not having withheld and reported the taxes from an employee?
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Nothing.
Was the income recorded? If so, then you will just simply pay the taxes you owe when filing.
The employee would owe more tax during filing season.
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Not really. My current company doesn’t deduct anything from me every payday because I opted to pay it annually. I think it’s better because the annual tax I get is definitely less than the deductions I used to get at a lower salary from my previous company.
The only downside is that I don’t get refunds anymore. But that’s okay. At least I know that I’m not being overtaxed by my employer.
That’s what I was saying. Because nothing was withheld on your behalf during the year, you need to make a larger payment during filing season.
Doesn’t change the total amount you pay for the tax year though.
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Ok, thanks all!
I just found that unusual… weird and suspicious. Especially because that company had been doing other things that were definitely wrong.
Personally, I’d rather they don’t tax me and I just go to the tax bureau myself every May. I feel more secure that I’m being deducted correctly. I don’t even bring any paperwork, just my ID and passport and the tax bureau just asks me to fill up a form.
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OK, there were consequences. I won’t get my taxes return until August. Bunch of cunts.
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Please elaborate.
The tax office needs to update something and check the payments with the bank. They won’t be paying me until some time in August.
That’s the same for everyone
As long as your employer declared your earnings correctly.
Other years I got the money same month I filed my taxes, I think.
Funnily enough the other payer I had on 2022 also fucked up with the taxes statement. Don’t want to disclose the details, but they fucked up something despite I did tell them I didn’t think they were doing it right.