massachusetts
Apr 8, 2008, 07:44 PM
Hi
I got a letter today from my employer (supposedly an investment firm!! ) stating that they had neglected to withhold social security and medicare tax starting from 2005 till end of 2007. They are now asking me to pay them back a considerable amount of money.
This is my first job, so I didn't really know about different types of taxes . I am on H1-B (started as OPT).
My question is: who is responsible to pay all these taxes - who owes the taxes to IRS at this point? Can a company ask for such a large amount of money due to its own negligence?
I am not an independent contractor. I am a full time employee from the beginning. I have always received W2.
I got a letter today from my employer (supposedly an investment firm!! ) stating that they had neglected to withhold social security and medicare tax starting from 2005 till end of 2007. They are now asking me to pay them back a considerable amount of money.
This is my first job, so I didn't really know about different types of taxes . I am on H1-B (started as OPT).
My question is: who is responsible to pay all these taxes - who owes the taxes to IRS at this point? Can a company ask for such a large amount of money due to its own negligence?
I am not an independent contractor. I am a full time employee from the beginning. I have always received W2.