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Hiring Independent Contractors Carries Hidden Risks

By Jeff Phelps and Geoffrey Mohun
November 01, 2004

According to the Bureau of Labor Statistics, there are approximately 13 million independent contractors at work in the U.S., and these numbers are expected to grow in the next few years, largely due to the perceived benefits of self-employment by workers.

While the number of workers choosing to become independent contractors is growing, companies who hire them may face a hidden downside to this trend ' lengthy IRS or state audits, heavy fines, and discrimination lawsuits ' all due to employer misclassification of “1099 workers.”

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