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Validity : 15th Apr'24 to 25th Apr'24
Employee vs. Contractor: How to Tell the Difference and Why It’s Important
- Discuss the three factors the IRS looks at in determining if someone is a contractor or an employee
- Discuss the 20-point “common law” test for determining contractor vs. employee
- Discuss the reporting implications of employee vs. contractor, such as 1099 vs. W-2, payroll taxes, etc
- Discuss what happens if the IRS re-classifies contractors as employees
- Relief under Section 530 for IRS reclassification
- Other relief, including the “Voluntary Reclassification Program
Overview of the webinar
IRS reclassification of contractors can be financially devastating to a business, with the business subject to paying back payroll taxes, plus interest and penalties. This webinar will cover how to tell the difference between a contractor and an employee; what the IRS is looking for when auditing this area; the types of relief available; and an overview of the new Form 1099-NEC, which will be used in 2020 and beyond for reporting contract labor pay.
Who should attend?
- Business owners
- Managers
- Office managers
- Bookkeepers
- CFOs
- Controllers
- Accountants
Why should you attend?
This webinar will help businesses understand their options when the IRS tries to reclassify independent contractors as employees. This reclassification can be financially devastating to a business. We will cover: how to tell if someone is a contractor or an employee; what happens if the IRS re-classifies a contractor as an employee, and the possible relief available (called “Section 530” relief). We will also discuss the new Form 1099-NEC for reporting contract-labor pay.
Faculty - Mr.Jason Dinesen
Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on tax and accounting services for small businesses and individuals. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College. He started his practice in 2009.
Credits
ComplianceIQ is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for [1] PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.
HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org