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Be certain of your 1099 compliance with ICverify™
Most organizations would agree the use of Independent Contractors is an integral part of a company’s talent management program. They open access to a pool of highly specialized skills on an “as needed” basis, permitting operational flexibility while decreasing long term obligations and statutory taxes. However, the use of Independent Contractors is not without perils and companies more than ever need a compliance program in place to mitigate the risks and consequences associated with using them.
◄ ICverify™
Our on-demand web application for the proper evaluation and classification of independent contractors.
ICverify™ is part of the iConnect™ suite of products.
ICon's on-demand module ICverify™ is the solution to using Independent Contractors without fear of penalty or assessments due to misclassification. Simply answer our online questionnaire and ICverify™ instantly issues an opinion using our proprietary algorithms and weighting system based on the "IRS's 20 Factors", ABC Test, IRS Revenue Rulings, and acceptable government auditing practices. No single system can match the breadth, accuracy, and timeliness of rendering an opinion on worker classification. Developed in conjunction with the nation's premier labor law firm, independently verified by a big 4 accounting firm, and the benefit of a 10 year successful track record defending our classifications in IRS and state audits means you can rest assure that ICverify™ is the premier choice in determining worker classification.
ICverify™ is the only online evaluation process that guarantees objective and consistent classification results nationwide. Unlike recommendations determined by varying human interpretations, our files remain easily defended years later, long after the "people" are gone.
More than a Technology Solution
When our software analysis determines a worker is close to qualifying but still has unacceptable elements of "risk" for misclassification, we personally analyze those risk factors to determine if some aspects of the relationship or working structure could be easily adapted to allow restructuring to 1099 status. This consultative approach is a clear differentiator, and allows us to have some of the highest pass rates in the industry, while still maintaining a perfect audit defense rate. Without proactively analyzing these factors, borderline cases would go straight to payroll; the approach taken by many of our competitors. However, a W-2 payroll relationship results in significantly higher costs and increases the risk of losing top talent who do not wish to enter into a W-2 relationship. This can make what appears to be a "free" 1099 compliance program very expensive for you and highly profitable for the payroll company.
If a contractor is clearly not set up to meet the government criteria for independent contractor status, we ensure a risk free alternative to immediately engage the services of the contractor through premium payroll and benefit services. On-boarding these contractors through ICon's payrolling service not only protects our clients from misclassification, but also mitigates risk of co-employment. These contractors are eligible for a premium benefits package that is significantly funded by ICon as the employer of record which further protects our clients' from co-employment risk. Learn More
Audit Support
ICon provides the comprehensive audit support files within 24 hours to assist in response to IRS and/or state taxing authority workforce classification audits.
ICon assists you in developing the appropriate defense strategy to ensure your workforce classification prevails, whether in response to an audit notice, or as a preventive measure that provides an assessment of the risk posed by the independent contractor workforce.