Event Description

The distinction between employee and independent contractor is not simply what is agreed to between worker and employer.
IRS has developed a 20-factor test based on common law, in three areas – behavioral control, financial control, and ongoing relationship. Workers receive Form W-2 and there is almost no tax gap. Independent contractors receive Form 1099-NEC, and misreporting of income and expenses on Schedule C is an area of IRS concern. This segment will discuss all aspects of employee versus independent contractor, with a special focus on the so-called “gig economy”.

*EA Approved Course