Examlex
If the taxpayer shows for an underpayment of tax, the failure to pay penalty can be reduced or eliminated.
Employment Relationship
A legal and formal arrangement between an employer and an employee that outlines the terms of employment.
Agency Relationship
A legal relationship in which one party, the agent, is authorized to act on behalf of another, the principal, in transactions with third parties.
Independent Contractor
A person or entity contracted to perform work for another entity as a non-employee, often with a higher degree of autonomy in their work process.
Employee
An individual who is hired and paid by an employer to perform specific tasks or services under certain conditions in exchange for compensation.
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