Sign-On Bonus/ 1099- Scholarship
Hello!
I need to know what you guys advise me doing? (perhaps seeking legal advice)
But, I took a job as a pharmacist at a local hospital. I actually took the job before I finished my grad schooling/rotations.
They had offered me a 20k sign on bonus, however it was never referred to as a sign on bonus. All the paper work referred to it as sometype of scholarship.
And when I was with HR prior to taking the job, I was told I wouldn't be taxed on it.
Well, now the hospital filed a 1099 for me, for the entire 20k. And I am suppose to pay tax for this. I DO NOT have that kind of money for one.
Two, I feel this is the employeers fault, however with them being a big hospital they are not really helping their employees. It also looks like a couple of us are in the same boat.
I wouldn't have had a problem with them taxing it before I got the money.
I guess my question is what do you recommend I do? How can I cut this money down?? Or eliminate having to to somehow come up with all the money to pay taxes on this...
I am in need of serious help ! Thank you in advance