Re: help, I need to vent!
Posted by txilar on September 3, 2003 at 15:34:29:
In reply to: help, I need to vent! posted by Anne Beltestad on September 3, 2003 at 15:22:08:
Dreadfull, but if you make over $600 you have pay taxes on it or geta 1099 at the end of the year and pay the extra FICA (Social Security
Tax and Medicare which combined are about 7.5%, thus 14% if you get
1099'd) tax associated with such. However, given that this is an
error, you should not in any way be responsible for the taxes if they
take that amount /back/ from you. Now, if you keep the whole total,
that's a different story. But you should not pay taxes on an amount
that you are not getting.
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