Raven sues WWE; Possible major problem for WWE

**BigDaddyCool** · 08-11-2008, 09:26 PM

Yes it does. I mostly do payroll, payroll taxes, and income tax. I know probably more about the subject than anyone else on the board.

If WWE is found to have misrepresent employee as independent contractors, then WWE will have to pay all of the FICA and Medicare that the wrestlers should have had with held from their pay checks along with the employer's matching portion. The wrestlers will then be able to refile all their tax returns from those years, possibly getting a refund. If the wrestlers haven't already paid or filed their own personal taxes, that is a completely seprate matter. The IRS will get to them on an individual basis if the wrestler come under an audit.

Audit are a little unpredictable, and not everyone gets audited that should, and sometimes people that shouldn't get audited do. So there is no telling if any wrestler is going to be audited. Then depending on how good of records they kept, they might not own any more. It is entirely possible they may have paid too much already and be owed a refund.

08-11-2008, 09:26 PM	#14
BigDaddyCool Pelvic Sorcerer Posts: 64,762	Yes it does. I mostly do payroll, payroll taxes, and income tax. I know probably more about the subject than anyone else on the board. If WWE is found to have misrepresent employee as independent contractors, then WWE will have to pay all of the FICA and Medicare that the wrestlers should have had with held from their pay checks along with the employer's matching portion. The wrestlers will then be able to refile all their tax returns from those years, possibly getting a refund. If the wrestlers haven't already paid or filed their own personal taxes, that is a completely seprate matter. The IRS will get to them on an individual basis if the wrestler come under an audit. Audit are a little unpredictable, and not everyone gets audited that should, and sometimes people that shouldn't get audited do. So there is no telling if any wrestler is going to be audited. Then depending on how good of records they kept, they might not own any more. It is entirely possible they may have paid too much already and be owed a refund.