parkison
New Member

Deductions & credits

It seems most people adopt the determination of independent contractor status at face value from the company paying them.  There is more to the story.

 

https://justworks.com/blog/consequences-misclassifying-workers-independent-contractors

 

I would encourage reaching out to the IRS for a determination specific to your situation.

 

https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-defined

 

If you believe that you have been misclassified, you can ask the IRS for a determination.

 

https://www.irs.gov/pub/irs-pdf/fss8.pdf

 

This can result in substantial savings realized in the difference between the self-employment FICA tax and the employee share if it is determined that you are an employee.  It also poses substantial financial risk to the erstwhile employer.