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Dialysis unit requirements Form: What You Should Know
You should have your subcontractor documents signed within 90 DAYS. A copy of the signed subcontractor statement should be included with the contract/s. How To Make An Independent Contractor Informed 1. Paying the Proper Taxes Subcontractors who work on behalf of the government should be required to collect and pay any required taxes and/or fees from which they are eligible to collect. Filing Form 8816 is the only one of its kind allowed for independent contractor tax reporting. Once filed with the IRS the Contractor must fill out Form 8816, Individual Independent Contractor Tax Return, and submit to the taxpayer within 6 months of making the payment. In 2016, the federal government began requiring all contractors to report on the IRS forms for independent contractors. To receive your own tax report online go to: . For contractors who do not file Form 8816, a copy should be included with the contract/s. 2. Employers of Contractors In 2018, most states are enforcing wage and hour and overtime rules. The IRS does not require employers to file tax returns for workers under their own name. You must file tax returns for subcontracted workers under the name of the contractor who paid them. There should be a separate Form 1040 for each subcontractor (one for subcontractors and one for independent contractors), with a separate return as well as the certification you need for a subcontractor. In some states, if the subcontractor has filed a form for wages and hours you must not only file the return, but also include an employer identification number that will go in the worker's pay stubs. 3. Taxpayers with Subcontractors Subcontracting is an option that allows the contractor to split their costs while retaining the benefit of having subcontractors who do most of the work. The tax rules are very different when a contractor and subcontractor have the same or a similar amount of work to do. You must file a separate return and pay the proper taxes. 4. For Small Contracts/Small Subcontractors This process is generally more complex than for large multi-million dollar contracts. The main requirements are: You must file a separate tax return for each subcontractor.
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