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Form 668-W(c)(DO) Irvine California: What You Should Know

Wages, or Other Income. 7-1. Page 2. Part 7. Tax Information. Tax return statements must contain all the information the returns require, as required, to  report your taxable income and the amount of taxes you paid for the quarter and year. If the statements do not contain all the information you  should fill them out by hand. Failure to obtain all the information in the return (and in the tax return statements) would result in a loss for the taxpayer. 7-2. Page 3. Section 7. Information Required. You must include the following information when reporting your taxable income on any  return required to be filed in connection with this chapter: (a) For wages, salaries, commissions or other remuneration for services performed, the gross amount paid You  for the services and any payments received under any plan or arrangement, when figuring your net taxable income (see section 8 below) (b) The gross amount of stock options, restricted stock, stock appreciation rights, etc., exercised or vested during the quarter and year For the quarter and year. The gross amount of any other gains, when figuring your net taxable income (see section 8 below). (d) The total tax paid, unless you are entitled to receive a refund or credit for any portion of such taxes paid. 7-3. Page 4. Additional information for reporting income. The following information must be included on the return for your tax billing. You may include this information in either a section 7 or section 8 statement. If a form is to be prepared as a section 7 statement, see part 3(a) above. It should specify the dates: (a) The date and amount of any capital contributions or similar items made during the quarter and year, and the date and amount (or part of) the transfer of your property or other interests (such as a life insurance contract) in exchange for the amounts. (b) The gross amount of interest paid or accrued during the quarter and year, and the interest rate (for example, “the Federal Reserve Interest Rate”). You must include the amount of the interest paid or accrued during the quarter and year (or part of year) to the IRS on either a statement to be signed by you, or on an additional statement. You do not need to add this amount to the gross amount of your income.

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