Monday, August 15, 2005

Gross Payments -vs- Earnings...

It strikes me as odd that the Federal Government can make public my earnings for any given year under the Freedom Of Information Act [FOIA], yet some contracts only allow "gross payments" as discussion options by participating members... What does gross payment mean?

Is there a difference between gross payment and actual earnings... when no time specification is defined? Some people make tax payments to the government in installments based on projected income for a specified period within the year. Would not one's earnings for the period be required to make the projection, whether or not one is actually paid? The Federal Government carries income earned over the current year so that it can be claimed as income for the next year??? I am not a tax attorney, but in most cases I would suggest no...

I really wish I had a ruling... Yes I know this post is a bit abstract, with reason. As you can see I still have not found a attorney. Comments are welcome...

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