Audio Conferences

  April 1, 2008 at 02:00PM ET

Accounts Payable beware: Recent IRS crackdowns on worker classification and fringe benefits are targeting employers for audits.

Starting this year, independent contractors who believe they should be classified as employees will file a new form with their personal tax returns—Form 8919—which will give the IRS fresh audit leads.

Fringe benefits are also a key trouble spot for AP. And, since these payments originate in AP, IRS agents will be knocking on your door early in the investigation should your company be selected for an audit.

Register now for this invaluable IOMA audio conference and learn how the IRS tells the difference between an employee and an independent contractor, and how to handle fringe benefit payments to employees.

Did you know that neither the hiring company nor the worker gets to decide whether that worker is an employee or an independent contractor? Remember, just because the payment comes from a system outside of payroll does not mean your organization has no Form W-2 reporting responsibilities for that payment.

Also, subject to rare exceptions (which we will discuss), an employee does not get a Form 1099. If payments to employees, including fringe benefits, are reportable, they are treated as wages and reported on the Form W-2.

This audio conference will address these issues as well as how to handle payments made to employees—or to vendors on behalf of employees—out of your accounts payable department, particularly fringe benefits offered by the employer.

DIAL IN & LEARN:

• Latest regulatory developments affecting worker classification
• Key factors in determining worker status
• Safe harbor to shield employers from tax trouble
• How to handle payments that represent fringe benefits
• Tax treatment of common fringe benefits
• Federal reporting requirements

FEATURED FACULTY

Marianne Couch, Esq
COKALA Tax Information Reporting Solutions, LLC