Ask Experts Questions for FREE Help !
Ask
    sahil80's Avatar
    sahil80 Posts: 12, Reputation: 1
    New Member
     
    #1

    Apr 2, 2014, 08:07 PM
    OPT Taxation based on 1099
    Hello,
    In 2013 I was on my OPT and I was employed by company A. I also did a small project as individual contractor for a company B.

    I have received the W2 from company A which is a straight forward affair however the company B has issued a 1099 to me. They have also requested me to provide them with a W9 -- After doing some research I now understand that I cannot fill up W9 as it is for US citizens -- what form should I provide company B and what form do they need to provide me back? And how do I file this with IRS? - The amount involved with company B is almost $1000, although I understand amount does not matter but this small amount has got me in a lot of trouble now.


    Any help is appreciated.

    Thanks,
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Apr 2, 2014, 08:10 PM
    You will NOT get into trouble with the IRS unless you fail to report the income on the Form 1099-MISC, which you do with Schedule C and Form 1040NR.

    You can complete the W-9, as it is NOT submitted to the IRS, but is merely a means to tell your "employer" your correct name, address and SSN. If you want to be technical about it, use Form W-8BEN.

    You MAY get into trouble with the USCIS, because the side job violates your visa. Do not worry about it, as the amount earned is relatively small, but do NOT make a habit of it.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Taxation on opt [ 1 Answers ]

Hi , I am a student who has graduated with a masters degree in California and I have a job in virginia . I am on a F1 status and my optional practical training commences on the 26th of oct 09. I was wanting to know as in how much tax deductions are the students on optinal practical...

Opt-H1 taxation [ 3 Answers ]

Hi, I am currently working on OPT since June 2009, My employer is planning to file for H1 probably this week. He is currently deducting SOCIAL SECURITY and MEDICARE taxes from my paycheck. On asking why? My employer replies that IF I go live on OPT (october) this year then I will HAVE TO PAY...

H1B vs OPT taxation [ 1 Answers ]

Hi All, I am an F-1 student currently on OPT (May 2009 till April 2010). I am starting a new job and my employer will sponsor my H1B visa for me. I need to decided whether to apply for an H1B with a change of status or without a change of status. Which means: With change of status:my H1B...

Double Taxation on 1099-B? [ 1 Answers ]

I had received some restricted stock options at no cost to me in 2008. The company I worked for was bought out by a larger company and they cashed out my restricted stock option with a cash payment. I paid the taxes on the cash received for my RSUs and it is reflected on my W-2 Form as ordinary...

Can Opt Student work as 1099 being on OPT Extension ? [ 2 Answers ]

HI to all GURUS, I came to US for my master in Computer science in 2006 in NJIT, I graduated on 20 th dec 2007 , So I got my OPT in Jan 2008, I applied for my H1 but didn't got it!! So then I applied for my OPT extension (17 month extension) which starts from jan 2009 for 17 months. I know...


View more questions Search