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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 232.71+0.1%1:13 PM EST
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To: KeepItSimple who wrote (32258)1/3/1999 12:54:00 AM
From: Dwight E. Karlsen  Read Replies (1) of 164684
 
Both the IRS and and the Bureau of Labor (Federal) would be very interested in any company that asks workers to work overtime for free. Under Federal Wage guidelines, any hourly worker who works in excess of 40 hrs per week must be paid time-and-a-half. On the IRS side of things, that overtime is gross wages, and subject to withholding of Federal Income tax, Social Security tax, and Medicare tax, plus the employer must match the Social security and Medicare (Employer Payroll Tax). Taxes must be paid in cash to Dept of Treasury (last I heard, the Feds don't take stock options as payment). So I don't think even Bezos or Ms. Covey would be so dumb as to thumb their noses at established labor and tax law.

Tell all of your workers that if they work overtime for free, you'll give them an extra 100 Amazon options. Tell them to tell all their friends about the deal, and suddenly you have an extra thousand temp workers who are working for "free" for the holiday rush.

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