IRS Audit 2024 : Worker Classification 101

Jerry19 Apr, 2024Education

Taxation laws are critical to navigate. The IRS 3-factor test is a simplified replacement version of the IRS twenty-factor test. Taxation professionals are expected to stay updated with this version of the factor test, workers' classification, financial and behavioral aspects of the test, and many more. Also, worker classification is another crucial aspect that taxation professionals should ace well, as misclassification leads to severe repercussions. This informative session navigates potential challenges and uncertainties surrounding worker classification, including the possible impact of the Biden Administration's rules on independent contractors. The session also covers practical advice for audits, relief options like Section 530 and Section 3509, relief solutions for IRS audit including Section 530 and Section 3509, and the Voluntary Classification Settlement Program (VCSP).