I believe my employer is incorrectly reporting 1099 wages I work for a transportation company and we have over 40 independent contractors (owner operators) and a handful of them have brought to my attention that their 1099's are wrong. Since I am no expert, our company pulls a 25% commission off of gross revenues. If a contractor made $100K in gross revenues, the company pulled 25% commission right off the top, and they owner operators grossed (were paid) $75K, the $75K would be their taxable income, correct? Our company is reporting their gross revenues as $100K and the owner operators are having to pay taxes on that amount even though $25K of it was pulled for a commission. Advice?? |