Posts Tagged ‘Independent Contract’


4 Easy Steps to File Your 2017 Forms 1099

 

 

1) Determine who should receive Form 1099

 

Business owners need to determine who should receive a Form 1099.  The Form 1099 will be issued to independent contractors and other parties. The IRS has rules to determine who is an employee and who is an independent contractor under the so-called Twenty Factor Test.  For Connecticut employers; they should also look at the Connecticut ABC Test.

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How to File Your Form 1099’s and Avoid IRS Penalties

moneyDetermine Who Needs to Be Issued a 1099

A Form 1099 needs to be issued to any unincorporated business that you paid $600 or more.  An unincorporated business includes Limited Liability Companies (LLC’S), Partnerships and Sole Proprietors.   Additionally, a 1099 needs to be issued for all legal services rendered irrespective of whether the law firm is incorporated or not.

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Connecticut Joins Pact on Employee Misclassification Initiative

The misclassification of employees as independent contractors, presents a serious issue for affected employees, employers, and to the economy. Misclassified employees are often denied access to critical benefits and protections such as family and medical leave, overtime, minimum wage and unemployment insurance. Employee misclassification as independent contractors, also generates substantial losses to the Treasury and the Social Security and Medicare funds, as well as to state unemployment insurance and workers compensation funds.