Course Description

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. Misclassification of workers by payees are an easy IRS target. As a result, companies need to be especially careful to ensure that their employee vs contractor classifications are in compliance with the law.

In this course, industry expert and corporate tax attorney Steven D. Mercatante Esq. takes a look some of the more common problems experienced by CPA’s, accounts payable, and tax departments related documenting and validating payee information using the IRS Form W-9. He not only identifies the issues, but offers solutions and best-practices for addressing them.

Learning Objectives

• Discover processes for dealing with recent Department of Labor, IRS, and State Level regulations as well as court cases impacting how you classify and 1099-NEC/1099-MISC/W-2 report payments to your workers
• Recognize policies for handling reporting and compliance requirements
• Identify strategies for dealing with classification pitfalls – and how to avoid them while minimizing the impact of misclassifying workers
• Learn practices to capture key data points for use in subsequent worker classification policies
• Pinpoint steps that should be taken to handle IRS Form SS-8 and worker lawsuits

Prerequisites

• None