2014 Tax Update: Employees vs. Independent Contractors (Completed)

This webcast will address the thorny issues arising when clients insist on paying workers as freelancers — whether accidentally or on purpose. You will get an overview of the IRS's common law definition of an employee. You will learn how to help your client understand the difference — and the consequences. We will also discuss the pros and cons of the IRS's new open-ended amnesty program — the Voluntary Classification Settlement Program (VCSP).

Who Should Attend
Tax practitioners, of all levels, regardless of tax practice who want to protect their business clients interests. This is also an excellent resource for business owners — to help them identify key tax issues when hiring full or part-time workers, in-house or virtually.

Topics Covered

• 20 common law rules
• When virtual worker may be an employee
• Paying worker on both W-2 and 1099
• IRS employer audit considerations
• Form SS-8 — Determination of Worker Status
• Relief under Section 530
• Voluntary Classification Settlement Program (VCSP)
• Tax Court Cases

Learning Objectives

• Identify the key tax issues that have the most impact on hiring workers.

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
A basic understanding of tax preparation.

Advance Preparation
None