News & Analysis as of September 23, 2024

Independent Contractors

+ Follow

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Weekly IRS Roundup January 9 – January 13, 2023

McDermott Will & Emery on 1/18/2023

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 9, 2023 – January 13, 2023...more

Weekly IRS Roundup January 3 – January 6, 2023

McDermott Will & Emery on 1/10/2023

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 3, 2023 – January 6, 2023...more

Weekly IRS Roundup August 1 – August 5, 2022

McDermott Will & Emery on 8/9/2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 1, 2022 – August 5, 2022...more

Section 530 and IRS Employment Tax Audits: Worker Classification and Relief

Freeman Law on 5/31/2022

Worker Classification and Section 530 Relief - Employers are required to pay employment taxes to the IRS. Generally, these payments consist of two portions: the employee’s portion of FICA and income taxes and the employer’s...more

Connecticut proposes digital advertising services tax and employee-elective wage compensation tax on employers

Eversheds Sutherland (US) LLP on 4/20/2021

On April 14, 2021, the Connecticut General Assembly’s Joint Committee on Finance Revenue and Bonding introduced SB1106. The bill would establish the “Connecticut Equitable Investment Fund,” which would be funded by, among...more

Eleven of the IRS's Enforcement Priorities During the 2021 Tax Season

Oberheiden P.C. on 4/13/2021

It is tax season once again. While the Internal Revenue Service (IRS) has extended this year’s filing deadline to May 17, 2021 for individuals, businesses must still file by April 15, and all U.S. taxpayers must ensure that...more

Separate State Filing Required for Form 1099-NEC

Morgan Lewis - ML Benefits on 1/27/2021

For the 2020 tax year, the Internal Revenue Service (IRS) moved reporting of certain nonemployee compensation, including current and deferred compensation paid to independent contractors and corporate directors, from Form...more

The Federal Tax Law and Lawyers

Freeman Law on 12/8/2020

In many respects, operating a law firm is no different than any other business. Specifically, the law firm generates revenues through providing services to its clients and incurs various operating expenses throughout the...more

Nonemployee Compensation Reportable on Revived Form 1099-NEC for 2020 Payments

Morgan Lewis on 3/2/2020

The Internal Revenue Service has revived Form 1099-NEC to eliminate confusion about complying with new filing deadlines aimed at combatting fraud. ...more

Restructuring Operations in the Wake of California AB 5? Don’t Overlook the Tax Implications

Littler on 10/30/2019

Businesses with operations in California have begun to identify options and implement strategies for compliance with Assembly Bill (AB) 5, which imposes the ABC test for identifying whether a worker is an independent...more

IRS Misclassifications and Costly Penalties: Independent Contractor or Employee?

Burr & Forman on 7/17/2019

Failing to properly classify an individual as an independent contractor can result in expensive penalties to the employer – imposed by both the United States Department of Labor and the Internal Revenue Service. As it...more

IRS is on to Self-Employed Taxpayers

Foodman CPAs & Advisors on 3/18/2019

On February 14, 2019, the TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION (TIGTA) released the Report “Expansion of the Gig Economy Warrants Focus on Improving Self-Employment Tax Compliance”. ...more

Weekly IRS Roundup February 18 – 22, 2019

McDermott Will & Emery on 2/25/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 18 – 22, 2019. February 19, 2019: The IRS issued a news release promoting online...more

Weekly IRS Roundup January 28 – February 1, 2019

McDermott Will & Emery on 2/4/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 28 – February 1, 2019. January 28, 2019: The IRS issued Revenue Ruling 2019-04,...more

Federal Employment Taxes: Employee-Independent Contractor Issues (Part 5)

Burr & Forman on 12/20/2017

Section 530 Relief - Employers that have workers which the employer classifies as “independent contractors” (Form 1099) risk having these workers reclassified by the IRS as employees. This is a major audit area for the...more

Federal Employment Taxes: Employee-Independent Contractor Issues (Part 4)

Burr & Forman on 12/8/2017

IRS Voluntary Worker Classification Settlement Program - Employers that have workers which the employer classifies as “independent contractors” (Form 1099) risk having these workers reclassified by the IRS as employees....more

Proposed Section 409A Regulations Would Clarify Separation from Service Analysis in Connection with Change in Status From Employee...

Proskauer - Tax Talks on 7/15/2016

Pursuant to the final regulations under Section 409A of the Internal Revenue Code of 1986, as amended, a termination of employment generally occurs at such time as the employer and employee reasonably anticipate that the...more

Good News! New 409A Regulations (Yes, Really!) – Part 1: Firing Squad

BCLP on 7/9/2016

On the TV show Futurama, the aged proprietor of the delivery company Planet Express, Professor Hubert J. Farnsworth, had a habit of entering a room where the other characters were gathered and sharing his trademark line,...more

Combatting Employee Misclassification under the FLSA

Buchalter on 8/12/2015

Correctly classifying a worker as an employee or an independent contractor is critical. Misclassification of employees as independent contractors has been occurring in an increasing number of workplaces, and the Department of...more

19 Results

View per page

Page: of 1

Income Taxes › Internal Revenue Service › Independent Contractors

"My best business intelligence, in one easy email…"