Misclassifying employees and independent contractors are getting more costly by the day. With federal and state agencies joining forces to combat misclassification, fines and penalties have skyrocketed. And every day the misclassification continues the penalties mount up and up until this ticking time bomb finally explodes!
According to the IRS, generally, if the worker is an employee, “you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an employee. You do not generally have to withhold or pay any taxes on payments to independent contractors.”
Find out how to defuse that ticking bomb by joining renowned payroll expert Vicki M. Lambert, CPP for this information-packed webinar. She will discuss requirements for classifying a worker as an independent contractor or as an employee.
- What classifications of workers are permitted under the IRS Rules
- What is the common law rule and how is it used to determine worker status
- What are the three factors the IRS uses to determine worker status and how to apply them correctly
- How the FLSA rules differ from the IRS rules and why you have to follow both
- How does the state trump both the IRS and the FLSA on determining independent contractor status with the ABC test for SUI
- What are the latest agreements or programs being used by the IRS, DOL, and the states to “find” misclassified employees
- Using the Form SS-8 to your advantage to determine worker status
- Who gets a W-2 and who gets a 1099 and why it should never be the same worker
- Find out how easily a 1099 audit can be triggered and why the chances of getting one are on the rise
- What are the penalties for misclassifying an employee as an independent contractor and who assesses them? It’s not just the IRS you have to worry about
- You found out you have a misclassified employee—now what?
Why You Should Attend:-
This webinar concentrates on what are the requirements to classify a worker as an independent contractor and when must a worker be classified as an employee.
Who Should Attend:-
- Payroll Professionals
- Human Resources Professionals
- Accounting Professionals
- VPs of Finance CFOs Business Owners
- Lawmakers, Attorneys, or any individual or entity that must deal with the complexities and technicalities within the payroll process