Tuesday, November 24, 2009

Independent Contractor (self-employed) or Employee?

Hi All - I am receiving numerous inquiries regarding independent subcontractors. I encourage you all the understand the reporting requirements to ensure you are in compliance with tax laws. There are also legal ramifications as well (please consult your attorney). This is a hot topic with the IRS and I can not stress the importance of getting this right. Please give me a call if you still have questions.

Please review this IRS guidance: Independent Contractor (self-employed) or Employee?
and Who is Self-Employed? (see 1099 annualy reporting requirements due January 31st). I also encourage you to view the webcast.

IRS Circular 230 requires that we inform you that the advice contained herein is not intended to be used, and it cannot be used, for the purpose of avoiding penalties that may be imposed by the IRS.

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