New Form 1099-NEC and Revised 1099-MISC

There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipients by February 1, 2021. After sending the forms to recipients, taxpayers must file the forms with the IRS by March 1 (March 31 if filing electronically). The requirement

2021-04-12T14:53:27-06:00January 26th, 2021|

Classifying Workers: Employee or Independent Contractor?

Many employers prefer to classify workers as independent contractors to lower costs, even if it means having less control over a worker’s day-to-day activities. However, the government is on the lookout for businesses that classify workers as independent contractors simply to reduce taxes or avoid their employee benefit obligations. Why

2021-04-12T14:55:12-06:00May 28th, 2019|

Independent Contractor vs. Employee

Many employers mistakenly believe that the misclassification of employees as independent contractors doesn’t really matter, so long as the contractors satisfy all of their tax obligations. This couldn’t be further from the truth. Improper classification of workers comes at a high cost, and both federal and state authorities have been

2021-04-12T14:55:54-06:00October 9th, 2018|
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