Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 05-10-2010, 04:49 PM
Junior Member
 
Join Date: May 2010
Posts: 1
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??



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
 



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

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


Similar Threads
Thread Thread Starter Forum Replies Last Post
1099-MISC Cash vs Accrual Reporting Astice Income 0 04-05-2010 09:29 PM
1099 from an employer that I cannot reach araukar Income 1 02-02-2010 01:21 AM
Double Reporting of 1099-misc to recipient JGRMinneapolis Miscellaneous 3 03-02-2009 03:36 PM
Reporting 1099-Misc for internship smileforsuzy Income 1 02-25-2009 01:24 PM
As a employer, how do I file an amended 1099 to IRS? Jason Income 1 04-09-2008 12:00 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.