WASHINGTON, DC - The Internal Revenue Service announced that interest rates for the calendar quarter beginning Oct. 1, 2009, will not change. Which rates? If you overpay your federal taxes the interest rates due to you by the government are: Four percent (4%) if you are an individual Three percent (3%) if you are a corporation However, the IRS only [...]
The Wall Street Journal reported last month that automatic IRAs may be required for all Americans. The Journal reports that there is Obama Administration support being debated in Congress, “…to get more workers saving for retirement. The plan calls for employers to set up mandatory automatic-enrollment IRAs, retirement accounts that allow for tax-deductible contributions…” If [...]
Often times, clients want a quick, easy solution to the IC compliance question. Unfortunately, a simple answer won’t work when it comes to who is an employee or independent contractor. There is NO universal formula where “if you do this you have an IC…” Common law is too complex for an easy answer In the previous article [...]
What’s an independent contractor? I just want a simple answer! Common laws and statutory laws that determine who is an employee or independent contractor are not that simple. There is not a magic pill to prescribe to make someone an IC, or a formula where “If you do [this] you have an IC.” Whenever I give [...]
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