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Deductions & credits
if it issues a 1099-NEC, not only will you pay regular income taxes on it but also effectively about an additional $10,600 in self-employment tax. i and I believe the IRS would also find using 1099's to report employee compensation as inappropriate. the company could face a huge penalty. even the employees who get it could face tax issues such as taking a 199A deduction. you got paid as an employee of the company for achieving goals the company set. including the payment on your w-2 seems to be the proper thing to do
‎July 14, 2022
9:57 AM
3,219 Views