Thursday, June 18, 2009

Albany's Independent Contractor Compliance Services Address Growing Concern over Worker Misclassification

Independent Contractor Qualification tool ensures consistent process for managing 1099 compliance

Mountain View, CA (PRWEB) June 18, 2009 -- Recent legislation and a history of record settlements of independent contractor misclassification suits is causing increased concern among companies who use temporary or contract workers.

To address this, Albany today unveiled a new version of its Independent Contractor Qualification (ICQ) Web tool at the 2009 Contingent Workforce Strategies Co-Employment and Risk Forum. ICQ 2.0 combines IRS and state law to produce a clear, consistent, repeatable and documented process for 1099 compliance, and now has a range of value-added features.

As a sponsor of the CWS Co-Employment and Risk Forum, we felt it was the perfect arena to launch the upgraded version of this increasingly in-demand tool
The misclassification audits by the IRS and other Federal and state agencies--common within markets known for high use of contractors, have onerous penalties. According to the New York Times, Microsoft was sued by misclassified workers for denial of benefits, including stock options, resulting in a $97 million settlement. The New York Times also reported that the Department of Labor's suit against Time Warner resulted in a $5.5 million settlement, specifying unpaid benefits for independent contractors.

Newer and pending legislation guarantees such investigations will increase, including The Obama-Durbin Independent Contractor Proper Classification Act of 2007, and the House of Representative's proposed Employee Misclassification Prevention Act. The IRS has also budgeted $86 million for contract worker classification audits.

Albany's ICQ 2.0 tool helps protect companies from unintentionally violating federal and state-specific 1099 regulations. It features a simple online questionnaire for both hiring managers and prospective contractors, and the answers are then assessed by Albany compliance specialists who provide a recommendation as to whether the person should work as a contractor or employee.

ICQ expands the available talent pool by enabling Albany's clients to engage contractors who request and comply with 1099 status. For those who cannot, Albany can act as the Employer of Record, converting the individual to W-2 compliant status and handling payroll, insurance, and tax withholdings.

New features include IC Compliance microsites that can be co-branded, private labeled and easily integrated into existing internal processes. The small Web sites help educate all stakeholders on compliance risk, addressing common problems and explain reasons for the company policy. This centralized communication center automates the process of deploying independent contractors who comply with state and federal regulations.

"As a sponsor of the CWS Co-Employment and Risk Forum, we felt it was the perfect arena to launch the upgraded version of this increasingly in-demand tool," said Jason Posel, senior vice president for Albany. "We will be demoing it to representatives of some of the largest companies in the U.S., and the demo will also be available on the Albany website," www.thealbanygroup.com/icq

About Albany
Albany's innovation and professionalism over the last 20 years has helped it grow into the market leader for contingent workforce management solutions. With offices on six continents serving clients in more than 70 countries, Albany offers a variety of national and international workforce solutions, including contractor payroll, Independent Contractor compliance, Managed Service Provider programs, Recruitment Process Management and Consulting.

Contact:
Jason Posel
Senior Vice President
1-800-664-5508
Jason.Posel(at)thealbanygroup.com
www.thealbanygroup.com/usa

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.

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[Via Legal / Law]

Posted by prolink at 1:45 AM

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