Verification, Validation and Risk Management
Utilizing questionnaires, web-based technology and personal interviews, coupled with the "IRS 20-Question Test and Department of Labor Requirements," PreCise substantially minimizes risk. This makes the verification and validation process reliable, and PreCise a viable option for companies who want to reduce the risk of employing a contingency workforce and independent contractors.
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Verification, Validation and Risk Management
Controlling Risk
The IRS uses three characteristics to determine the relationship between independent contractors and employees. This will affect how much you pay in taxes, whether you need to withhold from your independent contractor's paychecks and what tax documents you need to file.
· Behavioral Control covers facts that show whether your company has a right to direct or control how the work is done through instructions, training or other means.
· Financial Control covers facts that show whether your company has a right to direct or control the financial and business aspects of the worker's job.
· Type of Relationship Factor relates to how the workers and the company perceive their relationship.
PreCise offers three distinctive solutions to assist your company in avoiding risk, including:
· PreCise professional payrolling services which transfers employment risk to PreCise.
· PreCise verification, validation & risk management process which determines if workers are indeed independent contractors.
· PreCise employment screening and credentialing solutions that ensure you know who you're hiring.
