Contractor vs. Employee

Duration: 60 Minutes
IRS and State Agencies have increased their audits of workers classified as Independent Contractors. Why, because both Agencies are looking for more revenue without raising taxes.
Contractor vs. Employee
Instructor: Steven Mercatante
Product ID: 507063
Misclassification of workers by payees is an easy IRS target. The IRS says if you treat employees as nonemployees you will be liable for all social security and Medicare taxes and for withholding taxes for the entire period of misclassification plus all penalties and interest.

As a result, companies need to be especially careful to ensure that their employee vs contractor classifications are in compliance with the law.

Objectives of the Presentation
  • Understand fundamentals of contractors vs. employees
  • How to increase your competitive position by understanding these areas
  • How to analyze performance and decision making
  • Learn how to classify employee vs. contractors
  • Learn best practices
  • Get reporting and compliance tips
Why Should you Attend
Properly classifying a worker is critically important. If an employee is misclassified as an "independent contractor," the employer can be liable for back wages, including overtime and liquidated damages, under the FLSA; back taxes and penalties for failure to withhold income, Social Security, and Medicare taxes or pay the employer's share of Social Security and Medicare taxes; as well as other benefits that are offered to employees, such as stock options, profit-sharing, retirement, health and life insurance, and even severance if the relationship ends.

Join the webinar to know the differences between employees and independent contractors, why such distinctions are important to your business, and how they can affect your bottom line.

Areas Covered
  • IRS Test for identifying independent contractors
  • Purpose of Form 8919
  • Purpose of SS-8
  • Purpose of Form 8952
  • Red flags that attract attention of IRS
  • How is a company most likely to be "caught?"
  • The "red flags" companies should look for when performing a self-audit
  • The IRS's Voluntary Classification
  • Settlement Program Objectives
  • To provide you the tools to appeal and auditor's decision
Who will Benefit
  • General Counsel
  • In-House Labor Lawyer
  • Executive Management
  • Human resource policy decision-makers, front-line HR professionals
  • Business Owners
  • Department Managers
  • Managers, Supervisors
  • Team Leaders
  • Personnel Managers
  • Anyone with the responsibility of hiring or acquiring service providers
$300
Recorded Session for one participant
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Live Session - How it works
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  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Steven Mercatante Esq. is the principal and founder of TIR Consulting, LLC. TIR is a nationally recognized leader in tax reporting education and consulting on specialized 1099/1042-S compliance issues and with a clientele ranging from the world's largest multinational corporations, banks, universities, and insurance companies down to medium sized businesses, community colleges, local hospitals, and other such organizations. Steven is the author of an annual series of Federal and State Level Tax Compliance and Reporting Guides, has conducted on-site consultation for corporate clients from across the world, and led countless webinars and seminars for a variety of organizations.
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