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I've never heard of this. How would it work? I assume that the $100K would be W2 income (a requirement for corporate sponsorship) and all of the related income
by ci5er 10y ago
I've never heard of this. How would it work? I assume that the $100K would be W2 income (a requirement for corporate sponsorship) and all of the related income taxes for both the employer and employee are paid up. How would the IT company get paid back without having to report this as something like sales income/revenue? Unless the "boss" is getting a personal cash kick-back under the table, I don't understand how this could even happen. If the "boss" is not the sole shareholder this is both extortion against the employee and embezzlement against the company - and probably tax evasion. If the sole shareholder, then still extortion and (probably) tax evasion.
- cptsyk 10y agoCompanies who do this ask their employees to pay back in inr in India. Companies settle this with some creative accounting. Regulations for financial reporting are a joke in India. Google it for details.
- ci5er 10y agoReally? That's kinda ... sleazy. And against US law. I'm assuming nobody reports it because nobody wants 100% of that company's H1B visas (including their own visa!) to be revoked in the US?
- cptsyk 10y agoYup. Sleazy is an understatement. http://www.nbcbayarea.com/investigations/Silicon-Valleys-Body-Shop-Secret-280567322.html http://www.nbcbayarea.com/investigations/Silicon-Valleys-Bod...