Tuesday 15 May 2012
Your Questions About Compensation Letter To Employee
John asks…The IRS is looking for back-taxes for nonemployee compensation for 2005. What do I REALLY owe?I am an employee of the company that filed the 1099MISC. Without my knowledge my employer filed a 1099MISC recently for 2005. This prompted the IRS to send me a letter looking for almost $3,000 in back taxes, interest, and penalties. The situation is I get an additional $300 expense reimbursment in my paycheck in exchange for lowering my annual sallary by that amount. Is there anything
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