I am currently on H1B working for a company in US. Now I think when you are on H1b you can only work on 40 hours a week and no more, atleast on paper it should show that way.

Is it ok if you work more than 40 hours a week for same company but they pay you for 40 hrs on your paycheck and anything over is payed to you as a bonus for which they send 1099-Misc?. Now 1099-misc is not taxed so at the end when you file it you have to pay for ssn and medicare tip, I was wondering is there any better way to handle this whole situation. My company will pay for me the hours I worked even if its more than 40/week but I want to make sure that I am not violating any immigration law.

Thanks.

It is my understanding that H-1B visa holders are to be paid under a W-2 and that ANY payment under Form 1099-MISC is not legal.

However, since I am NOT an attorney, I cannot advise you on this issue.