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Is my school is under-reporting my income on tax forms?

 
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chaz47



Joined: 11 Sep 2003

PostPosted: Wed Mar 05, 2014 6:36 pm    Post subject: Is my school is under-reporting my income on tax forms? Reply with quote

I've been here for awhile but I've never had to deal with this situation, so please don't flame me or whatever.

I've been on my manager's case to get me pay stubs since I started working for this YBM franchise about 2 years ago. I received *one* my first year as an example of my monthly expenses, it seemed legit and I haven't seen another since. I watch the deposits to my account and it seems like the proper amount is deposited so I don't sweat it too much.

Anyway, because I began my contract in June, they never bothered to give me tax paperwork for my first year. But now, since I signed on for a second year, I've completed one full calendar year and they've given me my tax form.

I'm concerned though, as my contract states my base pay is 2.3 but in my calculation it seems they are declaring me as making 2.01. Not only is that false, it's a weird number. My total pay for the year they claim to be 24,200,000 / 12 (b/c they let me take a month off unpaid to visit family).

Is there something I'm missing here? Typically at my previous places of employment here, the accounting department handles all of this stuff and I never see what goes on with the taxation system.
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furtakk



Joined: 02 Jun 2009

PostPosted: Thu Mar 06, 2014 12:20 am    Post subject: Reply with quote

Under reporting income is really common, not just in the ESL industry, but generally in most small and medium sized businesses.

Quickest way to find out if they're reporting correctly is to go to the tax office and get a statement. I got one last year and found out the first place that I worked in Korea reported that I was making 900k a month...
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Otherside



Joined: 06 Sep 2007

PostPosted: Thu Mar 06, 2014 1:15 am    Post subject: Reply with quote

What was your base pay in your first contract?
That 24.2mill figure works out to exactly 2.2mill/month based on 11 months (you did take an unpaid month off right?)
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chaz47



Joined: 11 Sep 2003

PostPosted: Thu Mar 06, 2014 8:26 pm    Post subject: Reply with quote

It was also 2.3. I negotiated for what I thought was better housing at the time.
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