RISKY BUSINESS — The rising costs of misclassifying independent contractors

Описание: For years, McAfee & Taft attorneys have warned employers of the financial consequences of misclassifying independent contractors. Businesses which improperly classify employees—whether intentional or not—may be responsible for back employment taxes, state tax withholding, unpaid workers' compensation and unemployment insurance premiums, and penalties for noncompliance with wage and hour laws. In addition, independent contractors who are misclassified may also be eligible for employer-sponsored health and retirement benefits, including paid time off.

Still not convinced of the risks? Under the new health care reform law, many employers who misclassify just one employee run the risk of being hammered with a "play or pay" penalty assessed on the size of their entire workforce beginning in 2014.

For some employers, the penalties could be crippling.

In this one-hour webinar, employment attorney Charlie Plumb, employee benefits attorney Brandon Long, and tax attorney Keith Peters take a comprehensive look at all the issues and risks that come into play when misclassifying independent contractors and what practical steps businesses can do to take corrective action now. Topics include:
  • Workplace trends using independent contractors
  • Properly identifying and classifying workers
  • Status of enforcement
  • How government agencies are working together to share information
  • Risks and exposures -- how the penalties add up
  • IRS relief available for employers who reclassify their workers

(Originally broadcast December 5, 2012)