Food for thought on the IC versus employee debate. - echomt Posted: Nov 16th, 2015 - 2:35 pm
In reading some of the posts on the idea that IC is becoming more and more the goal of MTSOs as a way to increase their profit margin, the following might be worth taking into consideration.
The link is the the new DOL guidlines published in July 2015. In this publication, they go through, in detail, each of the areas of consideration for making a determination as to the proper classification of a worker, i.e. employee or IC, and it is worth noting that in every area to be considered medical transcription as an industry fails to meet the qualifications for classifying a worker as an IC. It isn't fun reading, but if you go through it I think you will agree that, under the current circumstances and based on these new guidelines, no MTSO is properly classifying their workers. Because of the nature of the business and how it is currently conducted, all IC positions, based on these guidelines, are misclassifications on every level.
This has ramifications for all of us on both sides of the issue, IC or MTSO, and I would like to share my thoughts on that at a later time. For now, you should take the time to read the guideliness. The DOL, the IRS, and even state governments are becoming increasingly aware of the lost revenue as well as the resultant unfair treatment to the workforce through misclassification of workers, and they are getting closer and closer to taking action across the board to put a stop to it.
http://online.wsj.com/public/resources/documents/InterpretMisclass.pdf
LINK/URL: Food for thought on the IC versus employee debate.
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