Many individuals who work as freelancers are often known as independent contractors or contract workers. In the United States, a large number of freelancers are considered contract workers because they complete tasks as part of a temporary contract or agreement with a company. These contract workers carry out their work for a predetermined fee that is detailed in a contractual agreement signed by both the freelancer and the business or receiving party. The term "independent contractor" is also frequently used to describe a contract worker or freelancer, and it is the classification given by the IRS.