With the release of the Final Rule on Employee or Independent Contractor Classification by the U.S. Department of Labor, businesses will have to audit their workforce to determine if individuals are classified properly under the Fair Labor Standards Act. The rule takes effect March 11, 2024, unless it is challenged in court and enjoined. Gene Marks explains the six factors businesses have to consider when analyzing a worker’s classification, and why the financial stakes are so high if improperly done. Listen to the Paychex THRIVE Week in Review podcast.
DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
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