Smarter businesses choose IPS for all their internally sourced contractor and vendor needs.
Corporate Services » Mitigate Risk
IPS provides a way for companies to leverage the specialized skill set of independent contractors without experiencing the co-employment risk that is typically associated with 1099 employees.
Eliminate 1099 and Corp-to-Corp misclassification risk. Any independent contractor working through IPS undergoes an annual compliance analysis and background check to determine their correct tax classification and employment eligibility.
With IPS as the Employer of Record your contingent workforce will fulfill:
The IRS estimates roughly 15% of independent contractors working as a 1099 independent are reclassified as W-2’s every year. As a result companies -- not the individual -- are exposed to heavy fines and penalties. These penalties encompass any/all payroll taxes, benefits, retirement plans, and stock plans since the first day the contractor started, plus an additional 12%-35% fine of the total amount.
Contractor Screening
As an additional benefit IPS will perform background and credit checks on both new and current independent contractors. Protect yourself from workers who misrepresent themselves or their employment history and be certain you are getting what you are paying for.
Protect your business from unforeseen risk. With IPS contractors have access to the best business insurance and coverage available. Our policies far exceed the coverage an independent contractor or consultant could obtain on their own, and it is provided free of cost.
IPS offers the highest policy and per limit coverage obtainable. What’s more, IPS assumes the difference in risk, eliminating liability entirely. At IPS all of our consultants carry: