Utah Worksheet - Contingent Worker
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FAQ
Contingent workers can receive a W-2, but it depends on how they are classified. If they are considered employees by their company, they will receive a W-2 form. On the other hand, if they are classified as independent contractors, they will receive a 1099 form. The Utah Worksheet - Contingent Worker helps in determining these classifications.
1099 Independent ContractorsThese contingent workers are self-employed and are not employees; therefore, companies are not responsible for the withholding, collecting or paying of taxes nor any other payments afforded full-time employees or Temporary W2 workers.
Contingent workers are hired to help businesses fill gaps such as staff shortages, skills sets, special projects and in remote locations, as well as reduce costs associated with hiring permanent employees. They allow organizations to be more agile in getting work done and meeting objectives.
Independent contractors, on-call workers, freelancers, contract workers, and any other type of individual hired on a per-project basis are examples of contingent staffing. In most cases, contingent workers have specialized skills, like an accountant or electrician.
Contingent workers are hired on-demand for a defined period of time. Unlike your permanent full-time or part-time employees, you hire contingent workers on-demand and often for a limited duration or project. There's no commitment to retain your contingent hires beyond the scope of the project or contract.
A contingent worker is someone who is hired for a fixed period of time, often on a project basis. Examples of contingent workers are freelancers, consultants, part-timers, on-call workers, independent contractors, and people in other types of alternative work arrangements.
Instead of receiving a W-2 for tax filing purposes, contract employees receive Form 1099. This is the form you submit along with Form 1040 for filing your taxes. Unlike an employee who has payroll taxes deducted from his paycheck, a contract employee is responsible for paying his own taxes.
Work environment Both contingent and contract employees may have more flexibility in their schedule and may choose when they want to work. They're not full-time employees, but they work on a project-to-project basis. Companies hire them because of their skills and expertise for a specific project.
The U.S. Department of Labor defines contingent workers as independent contractors or freelancers as opposed to contracted employees. When a company hires an employee on a permanent or temporary basis, it becomes responsible for ensuring that taxes are deducted and paid for the employee.
For instance, contingent workers' tax liability and reporting fall under a 1099-M instead of a W-2. The worker is responsible for the employment taxes generally covered by an organization for a traditional employee.
