ICon in the News
Independent Contractors – The Hot Topic Hits the Mark with Industry Leaders
San Jose, CA Oct 22, 2008 – ICon Professional Services, a national company specializing in workforce compliance, is pleased to announce rave reviews in response to the recent Worker Classification ’08 Seminar. The one day event was designed to address the most urgent concerns of industry leaders in relation to recent trends, pending legislation and best practice guidelines impacting Worker Classification.
Record-breaking lawsuits combined with renewed vigilance in the identification and enforcement of misclassification cases has created a sense of urgency among leading corporations throughout the nation as they expand the use of Independent Contractors in the midst of a rapidly changing financial and legal environment. Recognizing the need for clarification combined with practical applications, the ICon sponsored seminar focused on the most up-to-date and sought after “need to know” information available.
Seminar participants from leading Fortune 500 companies gave the event high ranks for relevance, depth and timeliness; specifically noting the importance of proper classification of workers, identification of common problems likely to increase the risk of triggering an audit, and pending legislation with profound impact on the future of Independent Contractor programs throughout the nation.
Proper worker classification remains problematic especially in light of ambiguous verbiage, variations between state and federal mandates plus the plethora of laws governing the issue. Further complicating the situation is the fear of inadvertently triggering an audit or worse – facing a major lawsuit. The days of minor mistakes are quickly coming to an end as stiff penalties, strict enforcement and increased scrutiny become commonplace.
The all–expert panel of presenters included recognized authorities in Taxation, Law and Human Capital Management among other specializations from KPMG, Nike, RMKB, and Intuit. Highlights of the seminar included:
- Disturbing new developments in the current economic and business climate designed to maximize tax revenues and limit the use of Independent Contractor classifications.
- Pending legislation that may restrict or even repeal Safe Harbor protections including retroactive reclassification of workers.
- Renewed collaboration between IRS, the Department of Labor and State agencies designed to aggressively identify potential worker misclassification violations.
- Best practices for implementing a 1099 Compliance Program.
- Contracts and best practice standards to begin implementing prior to proposed changes to reduce the risk of class action lawsuits and severe penalties for violations.
“ICon would like to thank each of the participants for sharing valuable insights and giving us the opportunity to learn from each other,” states David Branch, Vice President of Business Strategies. “As a company, we are committed to continuous excellence and innovation in our products and services with the express desire to provide meaningful insight and value to customers and peers. Worker Classification 08’ gave attendees the chance to share their experience and success while ensuring ICon’s vision aligns with the markets’ future direction and business goals.”
For more information or to view a presentation of the event please visit: www.icontract.com/conference
About ICon Professional Services
ICon Professional Services is a leading national Human Resource Outsourcing firm specializing in the management of 1099 Compliance and Contingent Workforces. Through its web-based application, ICon ensures that its clients are in compliance with tax rules for independent contractors, providing advice on employee classification guidelines, IRS audit support, tax reporting, invoice submission, and other services. These combined services protect clients from costly fines and penalties for misclassification of workers, by applying expertise that cuts through the complexities of government guidelines. Additionally, ICon offers outsourced payroll and benefits administration for certain classes of workers, including non–independent contractors, former employees and company sourced workers.
To learn more visit: www.icontract.com or call us at 1(800) ICON YES