Prompt 1: Contracted Labor
Discuss some differences between employees and self-employed contractors. What does the FLSA have to say?
If your folks were auditing a company’s payroll, what would you look for in deciding whether a worker is an independent contractor or an employee? What difference would it make to you as the auditor?
Employers will work as government agencies to collect tax withheld from employees and pay to the government on a regular basis. In addition, employers are required to file payroll related tax returns on time. What will happen to those employers who fail to carry out these responsibilities?