While classifying employees as independent contractors to reduce compensation costs may appear like a good idea, it can spell disaster for your business. Whether or not it is a deliberate attempt, misclassification can attract heavy penalty. 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!
Find out how to defuse that ticking bomb by joining renowned payroll expert Dayna J Reum in this information-packed webinar W-2s Vs 1099s: Which Is Preferable For Employers And Employees?. Plus Dayna will discuss the legal requirements of categorizing employees, how to prevent misclassification and the common rule that you can use to determine the worker status. She will talk about the requirements to correctly classify a worker as an independent contractor and also the requirements for when a worker must be classified as an employee.
You will walk away with an understanding of how to prevent lawsuits and ways to reduce risk. She will help you stay on top of labor law and workers’ compensation classification codes and offer advice to help you avoid costly errors.
- 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?
- And lot more!!
Who Should Attend:
- Payroll Professionals
- Human Resources
- Accounting Personnel
- Business Owners, Officers, Managers and Key Personnel
- Lawmakers, Attorneys, or any individual or entity that must deal with the complexities and technicalities within the payroll process