What are the benefits of using ICons Professional Payroll Service for high-risk workers?
Most importantly, ICon provides a W-2 structure by employing the worker directly. As an ICon employee the worker is completely removed from the client’s responsibility for tax purposes. To reinforce the company’s protection for co-employment liabilities, ICon takes unprecedented steps to not only provide a premium benefit plan, but ICon also makes substantial contributions to the cost. For the company, the benefits include: • Eliminate the risk of fines and penalties for misclassification • Mitigate potential co-employment lawsuits • Nationwide coverage – All 50 states • Cost efficient • Various levels of online reporting, including headcount, spend, location and tenure • Online submission, approval/denial of timecards/invoices (24/7) For the contractor, the benefits include: • Eliminates quarterly estimated tax payment requirement • Taxes are filed with a W-2 form • A significant portion of taxes are paid by the employer • Health and dental coverage with ICon contribution • ICon paid
