I reside in NJ and work for a company that does not pay hourly employees time and a half for any hours over 40. It has been suggested that this violation be reported to our State Dept of Labor. If given, how is this repayment made? How many years would the investigation go back? Does it affect my income taxes from previous years? Would I hace to amend past tax returns? I am paying off federal tax debt from a previous year and do not want to increase that debt with income from back overtime paid. Thank you.
Your local state government or IRS would most likely be able to answer your questions. The only one I can respond to is whether it will affect your taxes from previous years. If you got back payment this year you would report it when you file next year since that is when you actually received the money and would report it as income. No taxes or files from previous years would be affected since you did not actually receive any of that money back then.
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