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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (11478)9/7/2004 1:19:16 PM
From: benwood  Read Replies (2) | Respond to of 116555
 
Two people in my family are self employed and so only pay taxes quarterly.

I also read recently that many illegal immigrants use made up SS numbers and so pay taxes to somebody else (or somebody already dead).

Multiple jobs presumably would go into a single SS number, so no problem there.

Whatever you do, you can't get hours worked and pay per hour and so forth simply from the final answer of taxes paid.

So... a few things would have to be overcome, assuming that the gov't network could function to bring that data together, and I seriously doubt it could considering that I get my annual statement from the SSAdmin about 8 months after I paid my FICA taxes.



To: mishedlo who wrote (11478)9/7/2004 1:34:05 PM
From: Roads End  Respond to of 116555
 
That is the way it works Mish. All your withholding taxes at the federal level are only identified by SS number once a year. Employers are required to reconcile all amounts with held and deposited on the W3 transmittal which summarizes all that employer's W2s for the year.


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