One of the more perplexing and problematic concepts to comprehend under federal tax law is the Employee v. Independent Contractor debate. It is critical for businesses to occasionally review the category of its workers to see if they are properly classified.
Misclassified workers remain a priority with the Internal Revenue Service (IRS). The IRS is aware that large groups of businesses avoid payroll tax responsibilities by classifying workers as independent contractors rather than employees.
Furthermore, we will discuss the Volunteer Classification Settlement Program (VCSP). The VCSP is a little-known program that may be the right choice to get your client into compliance with treating their workers as employees. Learn about the process, how to qualify for the program, and discover the significant tax savings that will benefit your client. Bonus Material: Discussion new guidance issued by the Department of Labor.
Learning Objectives
Upon completion of this course, participants will be able to:
Distinguish between an independent contractor and an employee
Explain the three categories of Control Factors
Calculate penalties for misclassifying workers.
Apply rules to taxpayers in various occupations
Analyze Section 530 Relief under the Revenue Act of 1978
Interpret the Volunteer Classification Settlement Program (VCSP)
Review court cases
Overview of other related issues
