Internal Revenue Service News

Maritime & Offshore Employment: Contractors, Coverage and Confusion

, workers compensation and liability insurance for these employees. That’s because the importance of correctly classifying employees is at an all time high, especially in light of the changing government regulations regarding the Patient Protection and Affordable Care Act (PPACA) and the Internal Revenue Service’s (IRS) claim to be more vigilant against companies that don’t meet contract employee classification requirements. As a minimum, misclassifying W-2 employees as 1099 independent contractors may result in unwanted IRS audits that can leave employers responsible for the tax liabilities