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Declaration of Independent Contractor Status Form According to the Colorado Workers Compensation Act, a person is an independent contractor, not an employee, if both of the following statements are
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Both of form following refers to form W-2 and form 1099.
Employers are required to file form W-2 for employees, and businesses or individuals are required to file form 1099 for independent contractors or freelancers.
Both form W-2 and form 1099 can be filled out online or manually. Employers must include information such as employee's wages, taxes withheld, and personal information on form W-2. Businesses or individuals must include payment information and personal information on form 1099.
The purpose of form W-2 is to report wages and taxes withheld for employees. The purpose of form 1099 is to report payments made to independent contractors or freelancers.
Form W-2 requires information such as wages, tips, and other compensation, taxes withheld, and employee's personal information. Form 1099 requires information such as payments made, recipient's personal information, and payment details.
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