Hi,
I am on H1B visa and have not started the green card process yet.
I presented at a Business conference and received a payment of $500 for my session. I had already filled out a W-9 form. I received the money directly through myself and not my employer.

I want to know if there is any issue with this. Is it legal while I am on H1B?Can I receive this additional payment and disclose it when I pay taxes without any issues?
What if someone receives a 1099 in this situation?
Regards
GV

Even if you do not get 1099-misc, you MUST report this income.
About this income: You are self employed or independent contractor. You must file your tax return if yourself employed income is $400 or more. You will report your income and expenses on schedule C or C-EZ (Form 1040). Then you put net income (or loss) on line 12 of Form 1040. This income is subject to SE tax at 15.3% (this is shown on line 57 of Form 1040). Half of SE tax is deductible on line 27 of Form 1040. Read: Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor (http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html)