I got H1B visa which was valid from May'2002 to May'2005. I came to USA in April'2003. Started Job from 1st May'2003. On paper, employee agreed to pay me $48000 per annum. After joining, they informed that they have a change in plan, as mentioned below:
from May'2003 to Dec'2003:
I would be Paid $1400 per month (That is $11200 for 8 months)
Comapny would give me house (That is $9600 for 8 months, $1200 per month, I would not get any money, nor would it appear on payslip)
Company would give car and gas (That is $2400 for 8 months, $300 per month, I would not get any money, nor would it appear on payslip)
Company would give phone and mobile (That is $800 for 8 months, I would not get any money, nor would it appear on payslip)
Actually I should have been paid $32000 for 8 months.
Remaining 32000-11200=$20800, They deducted 9600, 2400, 800 as perks (all perks never appeared on paystub, everything is mentioned in agreement)
Remaining after perks 20800-9600-2400-800=$8000 would be paid after 2 years in two yearly installments with bonus of $4000. (It would happen Aug'05,Aug'06, Dec'06). I signed an agreement with company, where everthing was mentioned. Infact I got my first $4000 this month(one month early).
From Jan'2004, alary became normal (That is $4000 per month). However company gave the car to me(free), which I was using in 2003.
In first year, I Paid tax on $11200 only. Company renewed my H1B and now I want to go for stamping in Mexico.
Is there any chance that 2003-W2($11200) can create any problem? I mean taxable income is only 11200, where as on paper it still shows $48000.
2004-W2 is normal.
Requesting forum members to help
from May'2003 to Dec'2003:
I would be Paid $1400 per month (That is $11200 for 8 months)
Comapny would give me house (That is $9600 for 8 months, $1200 per month, I would not get any money, nor would it appear on payslip)
Company would give car and gas (That is $2400 for 8 months, $300 per month, I would not get any money, nor would it appear on payslip)
Company would give phone and mobile (That is $800 for 8 months, I would not get any money, nor would it appear on payslip)
Actually I should have been paid $32000 for 8 months.
Remaining 32000-11200=$20800, They deducted 9600, 2400, 800 as perks (all perks never appeared on paystub, everything is mentioned in agreement)
Remaining after perks 20800-9600-2400-800=$8000 would be paid after 2 years in two yearly installments with bonus of $4000. (It would happen Aug'05,Aug'06, Dec'06). I signed an agreement with company, where everthing was mentioned. Infact I got my first $4000 this month(one month early).
From Jan'2004, alary became normal (That is $4000 per month). However company gave the car to me(free), which I was using in 2003.
In first year, I Paid tax on $11200 only. Company renewed my H1B and now I want to go for stamping in Mexico.
Is there any chance that 2003-W2($11200) can create any problem? I mean taxable income is only 11200, where as on paper it still shows $48000.
2004-W2 is normal.
Requesting forum members to help