NEWS AND UPDATES
Income and Estate Tax Podcast
- May 2021
*Highlights of the American Families Plan Act
IRS Issues Publication Providing Guidance on Employee Classification
The IRS has issued a May 2021 version of Publication 5520, How Businesses Determine if a Worker is an Employee or Independent Contractor. The one-page document explains that the degree of control and independence of workers fall into three main categories:
(1) behavioral control; (2) financial control; and (3) relationship between the employer and worker. Each must be considered when determining if a worker is an employee or independent contractor.
THE BIDEN TAX PLAN