How you classify your
workers – as "independent contractors" or "employees" –
matters a great deal to the IRS. The IRS is aware that employers prefer to
treat workers as independent contractors to avoid paying fringe benefits and
payroll taxes. The IRS estimates that 80% of workers who are classified as
independent contractors are actually employees. About 100 new auditors have
been hired with the specific task of investigating misclassifications, and the
government is estimating that the crackdown will generate at least $7 billion
in revenue over the next ten years. For guidance in classifying your workers,
contact our office.Friday, July 17, 2015
IRS launches new "Misclassification Initiative
IRS launches new "Misclassification
Initiative
How you classify your
workers – as "independent contractors" or "employees" –
matters a great deal to the IRS. The IRS is aware that employers prefer to
treat workers as independent contractors to avoid paying fringe benefits and
payroll taxes. The IRS estimates that 80% of workers who are classified as
independent contractors are actually employees. About 100 new auditors have
been hired with the specific task of investigating misclassifications, and the
government is estimating that the crackdown will generate at least $7 billion
in revenue over the next ten years. For guidance in classifying your workers,
contact our office.
How you classify your
workers – as "independent contractors" or "employees" –
matters a great deal to the IRS. The IRS is aware that employers prefer to
treat workers as independent contractors to avoid paying fringe benefits and
payroll taxes. The IRS estimates that 80% of workers who are classified as
independent contractors are actually employees. About 100 new auditors have
been hired with the specific task of investigating misclassifications, and the
government is estimating that the crackdown will generate at least $7 billion
in revenue over the next ten years. For guidance in classifying your workers,
contact our office.
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