Workplace advice: If the feds learn you’re paying “in fact” employees as contractors, they'll closely review how you manage your contractors
Our business was going under because our payroll costs were eating us alive. Worse, our employees were resigning, one after another, and we couldn’t find the right replacements at a salary cost we could afford.
Here’s what you need to know. If either of these two regulatory bodies or the IRS learn you’re paying “in fact” employees as contractors, they’ll review how you manage your contractors and decide whether they’re really employees or contractors. Misclassified employees occasionally file complaints against their employers and demand reparations. These include reimbursements for 401K contributions and paid time off not received. That’s what led Uber to pay more than $100 million settlement to almost 400,000 drivers in California and Massachusetts after it misclassified them as contractors.
Other guidelines include whether they work only for you or for other employers, including your competitors. If an employee is “economically dependent” on you for their financial survival, they may be an in-fact employee. Contractors need to have the opportunity for profit or loss based on their initiative and/or investment.
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