Viewing a single comment thread. View all comments

billstrash t1_isjwi0g wrote

Spend every nickel you can tomorrow. Then go to the IRS and make a deal (via a tax acct or atty). This will be very expensive, very time consuming, and very crushing to your bottom line. So, for every 1099 that's determined to be an employee, you will need to pay the matching taxes (SUI, FUI, SS, Medicare - ~8+%) for every check you've ever written them. IF you get in front of it with the IRS they will make a deal. But do it tomorrow. I mean Monday 10/17/22 and not Tuesday... Spend the cash on the atty because it will be way less than paying the IRS. Good luck. Next time, get an opinion letter from an atty on the specific circumstances of your 1099 hires.

1