Applying Common Law Rules and IRS Factors for Accurate Determination
Misclassifying employees and independent contractors are getting costlier by the day. Federal and state agencies are collaborating to combat worker misclassification, resulting in a sharp increase in fines and penalties. Each day that misclassification persists, penalties continue to accumulate, creating a potentially explosive situation. Join Vicki M. Lambert, CPP, a distinguished payroll expert, in this webinar to gain crucial insights and strategies to ensure compliance and mitigate risks.
Why Attend?
Ensure your organization stays compliant with evolving regulations and avoid costly penalties associated with worker misclassification. Gain practical guidance from an industry expert to protect your business effectively.
Webinar Objectives
- IRS Rules and Classifications: Understand the IRS guidelines for worker classification and permissible classifications of workers.
- Common Law Rule: Learn how the common law rule is applied to determine worker status accurately.
- IRS Factors for Worker Status: Gain insights into the three factors used by the IRS to determine worker status and how to apply them correctly.
- IRS vs. FLSA Rules: Stay updated on the differences between IRS and FLSA regulations and their implications for compliance, including updates expected in 2024.
- State Regulations and ABC Test: Discover how state laws, particularly the ABC test for SUI, can impact independent contractor status.
- Enforcement Efforts: Understand the latest initiatives by IRS, DOL, and state agencies to identify and penalize misclassified employees.
- Form SS-8 Utilization: Learn how to proactively use Form SS-8 to determine worker status within your organization.
- W-2 vs. 1099 Distinctions: Differentiate between W-2 employees and 1099 contractors and understand the associated compliance requirements.
- Preparing for 1099 Audits: Prepare effectively for potential 1099 audits and implement strategies to minimize audit risks.
- Penalties for Misclassification: Understand the penalties imposed for misclassifying employees and the regulatory bodies responsible for enforcement.
- Actionable Steps: Learn practical steps to take if a misclassified employee is identified in your organization.
Webinar Highlights
- Overview of permissible worker classifications under IRS rules.
- Detailed explanation of the common law rule and its application.
- In-depth analysis of the IRS factors for determining worker status.
- Understanding the nuances between IRS and FLSA rules, with insights into upcoming 2024 updates.
- Impact of state laws, including the ABC test for SUI, on independent contractor status determination.
- Overview of current IRS, DOL, and state programs targeting misclassified employees.
- Strategic use of Form SS-8 to proactively manage worker classification.
- Importance of distinguishing between W-2 employees and 1099 contractors for compliance purposes.
- Risks associated with 1099 audits and proactive measures to mitigate audit risks.
- Overview of penalties for misclassification and enforcement agencies involved.
- Steps to rectify misclassification issues once identified within your organization.
Who Should Attend
- Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
- Human Resources Executives/Managers/Administrators
- Accounting Personnel
- Business Owners/Executive Officers/Operations and Departmental Managers
- Lawmakers
- Attorneys/Legal Professionals
- Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues
Credit(s)
IRS CPE Credits: 1 Tax hour
