Federal Tax Essentials with the IRS – Lesson 5

Lesson 5: Federal Taxes When Hiring Employees or Independent Contractors 

·           Employment Taxes

·           Worker classification – Employee or Independent Contractor

·           Behavioral Control

·           Financial Control

·           Relationship with worker

·           Determining worker status

·           Employer responsibilities if you have employees

·           Determining eligibility of employees to work legally in the U.S.

·           Form W-4

·           Verification of employee SSNs

·           Form W-2 Wage and Tax Statement

·           Ensuring new employees provide correct information

·           Document the steps you take

·           Issuing Forms W-2

·           Earned Income Tax Credit (EITC)

·           Individual Tax Identification Number (ITIN)

·           Independent Contractors/Filing Proper Forms

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