member tax return required

by Joe Dillon
(Ambler, PA)

My employer changed from a corporation to an LLC. What will I receive in place of the W2? Will i just file my normal 1040 with Schedule Se.

Answer

Are you a member of the LLC?

If not, and you are merely an employee, then you should receive a W-2. There are Fortune 500 companies that are LLCs (like Chrysler, for example) and their employees get W-2s just like a corporation's employees.

On the other hand, if your employer treats you as an independent contractor, and doesn't withhold taxes from your pay, then you will get a 1099 at the end of the year and will have to file self-employment tax (among other taxes) yourself.