I am a physician doing j1 waiver , on H1b visa. I am employed by a private group. The hospital pays 25000 dollar as a policy to new doctors over three years as signing bonus. In 2004 the hospital paid me 6000 dollar , but they sent me 1099 misc which I accepted and also showed on my tax refund. I had no clue about its affect. This year they again sent me 1099misc of 12000. what should i do? Please advice. Thank you.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
some one please help, h1b and 1099
- Thread starter vivek444
- Start date
You are allowed to have additional income i.e. from investments silent partnerships etc.
This is a forgiveable loan deal I would assume. You gave them a note and they take 12 k off for every year you stick with them. As all your employment is through the group, I wouldn't think receiving this additional 1099misc should do your immigration harm.
This is a forgiveable loan deal I would assume. You gave them a note and they take 12 k off for every year you stick with them. As all your employment is through the group, I wouldn't think receiving this additional 1099misc should do your immigration harm.
need to pay tax
Though you r on W-2, for income thru 1099, u need to pay qtrly taxes. consult a CPA, they will help you file tax. its typically around 30% of whole sum and you can ask for refund at the end of tax year.
You sure your company didn't deduct tax at source ????
Though you r on W-2, for income thru 1099, u need to pay qtrly taxes. consult a CPA, they will help you file tax. its typically around 30% of whole sum and you can ask for refund at the end of tax year.
You sure your company didn't deduct tax at source ????
Well, there are two aspects to getting a 1099misc.
- you have to pay taxes on it (fed,state,medicare,ss)
- you have to make sure it doesn't interfere with your immigration status at the green-card stage.
The taxes are a given. For the second issue I am not sure. As ALL of your employment is through your W2 employer and the retention bonus is not a payment in exchange for services provided to the hospital, I don't think it interferes. Be sure to talk to an immigration attorney about it (most are very careful and will suggest that you pay it back).
- you have to pay taxes on it (fed,state,medicare,ss)
- you have to make sure it doesn't interfere with your immigration status at the green-card stage.
The taxes are a given. For the second issue I am not sure. As ALL of your employment is through your W2 employer and the retention bonus is not a payment in exchange for services provided to the hospital, I don't think it interferes. Be sure to talk to an immigration attorney about it (most are very careful and will suggest that you pay it back).
Thank you very much for the help. CPA is doing my taxes and he has advised me to tell hospital to submit 1099 correction to IRS and nil the amount for this year. And have the money go thru my employer. He told me that I cammot do anything about previous tax year, although I did pay tax on that initial 600o.