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I have worked this way for years and have consulted CPA's, read about it, etc. Set up my own SEPIRA also.
The real danger with the IRS isn't for you but rather the entity who contracts with you!! They would be the party that could be forced to pay to YOU back social sec., unemployment and other employer obligations if an audit of THEIR books determined that you were in fact an employee as per rules that apply! All you have to do is report the 1099 income, pay proper taxes including your own s/s on the net profit after deductions. Disclaimer: This is not advice to act on, consult legal advice or the IRS.
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