Tuesday, October 18, 2011

New IRS Voluntary Compliance Initiative

New IRS Voluntary Compliance Initiative for Misclassified Independent Contractors


On September 21, 2011, the IRS introduced an extremely favorable settlement program for those who have misclassified employees as independent contractors to reclassify them and eliminate the tax exposure.

This favorable program includes audit protection for prior years and abatement of interest and penalties.

Ann O'Rourke(Appraisal Today): Misclassifying appraisers as independent contractors, not employees, can be very, very expensive.


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