The DOL New Final Rule on Independent Contractor vs. Employee Status – Benefits and Drawbacks : W-2s vs. 1099s

Overview:

The U.S. Department of Labor’s (DOL’s) test for determining whether a worker should be classified as an independent contractor or an employee for purposes of the federal Fair Labor Standards Act (FLSA) has been revised several times over the past decade. Now, the DOL is implementing a new final rule rescinding the employer-friendly test that was developed under the Trump administration. The new, more employee-friendly rule takes effect March 11, 2024.

Misclassifying employees and independent contractors are getting costlier by the day. With federal and state agencies joining forces to combat misclassification, fines and penalties have skyrocketed. And every day the misclassification continues the penalties mount up and up until this ticking time bomb finally explodes! Find out how to defuse that ticking bomb by joining renowned payroll expert Vicki M. Lambert, CPP for this information packed webinar!

Areas covered in this Training:

DOLs New Rule on Independent Contractor & Employee Classification effective from March 11th, 2024
What’s the New Test that Determines Status
What classifications of workers are permitted under IRS Rules
What is the common law rule and how is it used to determine worker status
What are the three factors the IRS uses to determine worker status and how to apply them correctly
How the FLSA rules differ from the IRS rules and why you must follow both even as the FLSA regs are being update in 2024
How does the state trump both the IRS and the FLSA on determining independent contractor status with the ABC test for SUI
What are the latest agreements or programs being used by the IRS, DOL and the states to “find” misclassified employees
Using the Form SS-8 to your advantage to determine worker status
Who gets a W-2 and who gets a 1099 and why it should never be the same worker
Find out how easily a 1099 audit can be triggered and why the chances of getting one are on the rise
What are the penalties for misclassifying an employee as an independent contractor and who assesses them. It is not just the IRS you have to worry about.
You found out you have a misclassified employee—now what?

Why Attend this Training:

Changes are here for contractor vs. employee classification. A new rule in effect from March 11th, 2024 regarding the classification of individuals as independent contractors. Employers may find it difficult to properly classify workers as independent contractors or employees due to these changes. The Department of Labor (DOL) independent contractor rule involves a new test with a different approach to classify workers, which could present challenges. Businesses should be prepared to adapt to remain compliant.

This webinar examines DOL’s new Rule, what the requirements are to correctly classify a worker as an independent contractor and also the requirements for when a worker must be classified as an employee.

Who should Attend:

Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
Human Resources Executives/Managers/Administrators
Accounting Personnel
Business Owners/Executive Officers/Operations and Departmental Managers
Lawmakers
Attorneys/Legal Professionals
Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues

Ask your question directly from our expert during the Q&A session following the live event.

Vicki M. Lambert

Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor™, a firm specializing in payroll education and training. The company’s website www.thepayrolladvisor.com offers a payroll news service which keeps payroll professionals up-to-date on the latest rules and regulations.

With 40 years of hands-on experience in all facets of payroll functions as well as over three decades as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today.

A pioneer in electronic and online education, Ms. Lambert produces and presents payroll related audio seminars, webinars and webcasts for clients, APA chapters and business groups throughout the country. Ms. Lambert now presents a weekly podcast, Payroll 24/7, on all things payrolls.

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