Form 1099-C Reporting Requirements
1 hour 40 minutes
Gain a better understanding on the skills needed to revise policies, practices, and procedures to stay compliant with federal and state requirements.
Many employers have individuals classified as independent contractors who are more properly classified as employees. Federal and state agencies, and private attorneys through wage and hour class action lawsuits, actively prosecute and litigate companies for these errors. Improperly classifying employees can lead to a multitude of issues - from the failure to pay overtime to improperly paying taxes. This topic will give employers the tools necessary to properly identify and classify individuals who work with their organizations. This material will also provide employers with the ability to draft policies that protect their intellectual property and branding without creating additional employment liabilities.
• You will be able to define what an independent contractor is and develop an understanding of who can properly be classified as an independent contractor.
• You will be able to discuss the different tests that examine 1099 classifications and the differences between the tests.
• You will be able to identify the common pitfalls in practices and learn how to avoid the 1099 misclassification traps.
• You will be able to review your policies, contracts, and procedures to ascertain if your independent contractors are truly independent.