Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

10-99 Tax submission on H1B (HELP!!!)

10-99 Tax submission on H1B (HELP!!!)

Old Mar 18th 2004, 3:14 pm
  #1  
dealing with it
Thread Starter
 
Chopper-Chris's Avatar
 
Joined: Feb 2003
Location: DC
Posts: 2,916
Chopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really nice
Default 10-99 Tax submission on H1B (HELP!!!)

Up to now I have never had any income apart from my H1B authorized salary...however for this years tax (2004), I will be making a bonus for small company in my local area based on performance and commission (but as I will not be recieving a salary, I understand no INS authorization is necessary for this 'extra' income). The bonus/commission money will be represented on my 10-99 form at the end of this tax year which will be sent to me by the company in Dec2004/Jan 2005 but before I go ahead with this...I realy want it to be all above board, I know it can be if I do it right.

Can I file a 10-99 as an H1B holder?

Is there any limits to the amount I declare?

Am I in danger...?

This is a complex arena and I am having trouble finding anyone with experience in this, please reply if you have personal experience in filing 10-99 on H1B

Many Thanks

Chopper
Chopper-Chris is offline  
Old Mar 18th 2004, 7:11 pm
  #2  
dealing with it
Thread Starter
 
Chopper-Chris's Avatar
 
Joined: Feb 2003
Location: DC
Posts: 2,916
Chopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really nice
Default Re: 10-99 Tax submission on H1B (HELP!!!)

Maybe I should add another question to this...

will the company gove me the 'bonus' have to submit a 10-99 to the IRS or is that my responsibility?

Are there no accountants out there?


Originally posted by Chopper-Chris
Up to now I have never had any income apart from my H1B authorized salary...however for this years tax (2004), I will be making a bonus for small company in my local area based on performance and commission (but as I will not be recieving a salary, I understand no INS authorization is necessary for this 'extra' income). The bonus/commission money will be represented on my 10-99 form at the end of this tax year which will be sent to me by the company in Dec2004/Jan 2005 but before I go ahead with this...I realy want it to be all above board, I know it can be if I do it right.

Can I file a 10-99 as an H1B holder?

Is there any limits to the amount I declare?

Am I in danger...?

This is a complex arena and I am having trouble finding anyone with experience in this, please reply if you have personal experience in filing 10-99 on H1B

Many Thanks

Chopper
Chopper-Chris is offline  
Old Mar 18th 2004, 7:13 pm
  #3  
dealing with it
Thread Starter
 
Chopper-Chris's Avatar
 
Joined: Feb 2003
Location: DC
Posts: 2,916
Chopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really nice
Default Re: 10-99 Tax submission on H1B (HELP!!!)

OR...

have any of the H1B holders out there ever made any supplementary income...if so...how did you report this (did you have to report this?)

Thanks...anyone!!!



Originally posted by Chopper-Chris
Up to now I have never had any income apart from my H1B authorized salary...however for this years tax (2004), I will be making a bonus for small company in my local area based on performance and commission (but as I will not be recieving a salary, I understand no INS authorization is necessary for this 'extra' income). The bonus/commission money will be represented on my 10-99 form at the end of this tax year which will be sent to me by the company in Dec2004/Jan 2005 but before I go ahead with this...I realy want it to be all above board, I know it can be if I do it right.

Can I file a 10-99 as an H1B holder?

Is there any limits to the amount I declare?

Am I in danger...?

This is a complex arena and I am having trouble finding anyone with experience in this, please reply if you have personal experience in filing 10-99 on H1B

Many Thanks

Chopper
Chopper-Chris is offline  
Old Mar 18th 2004, 11:39 pm
  #4  
Forum Regular
 
Joined: Mar 2003
Location: Halsey, OR
Posts: 77
lins77 will become famous soon enough
Default Re: 10-99 Tax submission on H1B (HELP!!!)

Originally posted by Chopper-Chris
Maybe I should add another question to this...

will the company gove me the 'bonus' have to submit a 10-99 to the IRS or is that my responsibility?

Are there no accountants out there?
I'm not am H1B holder so I can't comment on anything relating to that.

Both me and my husband get paid as consultants and so get 1099's, though. I believe that the company will also submit the form to show where the money went, otherwise they would be liable for tax on the money.

So if they gave you a 1099 and you didn't submit it, I would think the IRS might get suspiscious.

I'm not an expert on this, though - just how I think it happens.

Lindsey
lins77 is offline  
Old Mar 19th 2004, 3:11 pm
  #5  
dealing with it
Thread Starter
 
Chopper-Chris's Avatar
 
Joined: Feb 2003
Location: DC
Posts: 2,916
Chopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really niceChopper-Chris is just really nice
Default Re: 10-99 Tax submission on H1B (HELP!!!)

Thanks Lindsey

If I may be so bold, what is your status? I undertand that with H1B I can't work as an independent contractor/consultant....at least as a MAIN income.

C




Originally posted by lins77
I'm not am H1B holder so I can't comment on anything relating to that.

Both me and my husband get paid as consultants and so get 1099's, though. I believe that the company will also submit the form to show where the money went, otherwise they would be liable for tax on the money.

So if they gave you a 1099 and you didn't submit it, I would think the IRS might get suspiscious.

I'm not an expert on this, though - just how I think it happens.

Lindsey
Chopper-Chris is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.