Worker status: What you decide may cost you
$225.00
Description
Abstract: According to the IRS, the misclassification of workers as independent contractors (rather than employees) accounts for $53 billion to $300 billion in unpaid taxes each year. As a result, the agency has been zeroing in on misclassification as a revenue raiser. And, since it’s found that it’s more difficult to collect from independent contractors, it tends to favor employee status. This article discusses some of the most important factors the IRS uses in making the determination, and what employers can do if they’re unsure of their compliance. A sidebar explains the importance of keeping good records on employees and independent contractors.
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