News & Analysis as of

Compensation & Benefits Internal Revenue Service Independent Contractors

Dunlap Bennett & Ludwig PLLC

The Department Of Labor’s New Rule: Employee Versus Independent Contractor?

In the dynamic landscape of federal regulations, significant changes have emerged in 2024 that businesses need to be aware of. One of these changes includes the redefining of the classification of “independent contractors”...more

Morgan Lewis - ML Benefits

Separate State Filing Required for Form 1099-NEC

For the 2020 tax year, the Internal Revenue Service (IRS) moved reporting of certain nonemployee compensation, including current and deferred compensation paid to independent contractors and corporate directors, from Form...more

Best Best & Krieger LLP

Reporting Non-Employee Compensation: A Year of Change

The New Form 1099-NEC Changes Non-Employee Compensation Reporting Requirements - The IRS has made significant changes as to how non-employee compensation must be reported. In the past, compensation of $600 or more paid to...more

Proskauer - Not for Profit/Exempt...

10 Keys to Excise Tax on Executive Compensation Paid by Tax-Exempt Organizations

Proposed Regulations under Section 4960 of the Internal Revenue Code provide important guidance for tax-exempt organizations and their affiliates regarding an excise tax on certain executive compensation. The U.S. Department...more

Morgan Lewis

Nonemployee Compensation Reportable on Revived Form 1099-NEC for 2020 Payments

Morgan Lewis on

The Internal Revenue Service has revived Form 1099-NEC to eliminate confusion about complying with new filing deadlines aimed at combatting fraud. ...more

Best Best & Krieger LLP

Public Agency Board Members’ Worker Classification Matters for Tax Purposes

Due to the IRS’ different treatment of private sector and public agency boards of directors, it comes as little surprise that many California special districts and public agencies continue to classify their board members as...more

Eversheds Sutherland (US) LLP

Legal Alert: Final Rules on Compensation Deduction Limit for Health Insurers

The Internal Revenue Service (IRS) and the Department of Treasury (Treasury) have issued final regulations under section 162(m)(6) of the Internal Revenue Code of 1986, as amended (Code), which limit the deduction certain...more

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