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How can we differentiate between whether an individual would be considered an independent contractor or a...

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Accounting

How can we differentiate between whether an individual would beconsidered an independent contractor or a W-2 employee?
What repercussions, if any, does an employer face if theyincorrectly identify an employee as an independent contractor?

Answer & Explanation Solved by verified expert
4.5 Ratings (801 Votes)
Employees re paid as salaried or hourly on commission or a combination and may be subject to overtime Employees are taxed on their income they receive a W2 form showing their annual income and you must also withhold federal and state    See Answer
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