Employer Bankruptcy Wages
Can I write off unpaid wages on my taxes?
My employer filed bankruptcy and owes my $12,852. Can I write that off on my taxes?
This is a good question because this is a loss to you. Is this a loss recognized by the IRS?
F4684 is the ‘Casualties and Thefts’ Form… * I am now researching the IRS def. of casualty.
The Pub # is 584 which has workbook for disaster records.
Give me a couple days or maybe another tax person can quote a page or 2!
I will find a way. Stand By…
OK I found out last night from my H&R instructor.
.You can only claim a loss on tax paid money or the money or posession that you have paid fed taxes on.
.If you have a W2 then yes is the answer.
.if no W2 and you have contact with the old boss then maybe you could claim a loss of investment if you were going in to be partners with your old boss.
Sorry but you must have agreed to work for no pay, promises do not count as money.
good luck.
Employment Law: Overtime Wages
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