My husbands wage and income transcripts from 2014-2018 do not show his w2 info or schedule k1. Does this mean the family business is not reporting income or taxes?

[rjs]

It certainly sounds like it's not being reported. Or they could be reporting it, but spelled his name wrong or have an incorrect Social Security number for him. He's going to have to ask whoever does the payroll and tax filings for the business. Is there another employee or partner/owner he could ask to check their transcripts and see if anything is being reported?

[SweetieJean]

Also see what the Social Security Admin has on file.

[shamlin85]

His mother is responsible for filing everything which we have been slowly finding out that things are not being handled as they should be. The SSA also shows no reporting on his end and the business end. I logged in to both accounts. I do not want to involve his siblings as they are not aware of our past findings.

[rjs]

I think you can work through the SSA to get his Social Security records corrected. Hopefully you still have the W-2s that the business gave him for those past years. As you probably know, getting the Social Security earnings record corrected is important because it will affect how much your husband will be able to collect when he retires. You should do this as soon as possible, because I think they have a limit to how far back they will go to make corrections. But the SSA will probably contact the company. There may not be any way to fix this without stirring things up in the family business.

It might not be necessary to do anything with the IRS, if your husband has reported his W-2s and K-1s on his tax returns, and the IRS has not questioned the tax returns. But I suggest that you discuss the situation with a local Enrolled Agent or other tax professional who has experience dealing with the IRS.

And save everything, in case IRS or SSA issues arise later.

Good luck.

[shamlin85]

We have never filed a K1 because she never has given us one. Before me she always handled his taxes and I wasn't involved with the company like I am now. The last k1 was filed in 2013. You are correct the SSA has a time limit of 3 years so we have lost 2014 and 2015.  She told her son she filed his 2015 and 2016 taxes however when i checked his tax transcript she did not file them so i do not have those W2's. Otherwise I have filed 2017 and 2018 but did not realize nor know about the K1. Im sure we will have to include the other members as their records will be incorrect as well. I can safely say s**t is going to hit the fan. Thank you for your answers.