IRS Reminds Business Owners To Correctly Identify Workers
The IRS Newsroom recently reminded business owners that it is critical to correctly determine the classification of individuals doing work for your company. Whether a worker is an independent contractor or employee, depends on the relationship between the individual and the business. Misclassified workers can adversely affect you since you could be held liable for employment taxes which include Social Security, Medicare Taxes, and Federal and State Unemployment taxes.
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