Hello, for those of you who have received sub-pay last year, what does BNYM send you to file your taxes (W2,etc )this year? Since Social Security and Medicare are not deducted are we liable for that when filing?
Thanks!
3 replies (most recent on top)
I was laid off last year and at the end of the year I got a W-2, that's it. For Federal, it appeared that I earned much more than the State and Local wages. Since they are taking out Federal taxes on your SUB, they just lumped in the earnings I had before lay-off with the SUB payments for the Federal taxable income number.
I assume you would get a 1099-G or whatever you get from unemployment. It will be interesting to see if they exempt SUB pay from taxes like they did (or thinking of doing) for unemployment in 2020. You would also get a w2 if you made regular wages during the year.
You do not need to pay your payroll taxes.