A recent survey by a commercial financial and retirement investment planning firm reported that as many as 64% of those over 55 are not prepared to retire in the traditional sense. This is due mostly as a result of the recent financial market turmoil, however other factors play a role. The report indicated that 77% [...]
The First Circuit Court of Appeals ruled [Cortés-Rivera v. Dep't of Corr. & Rehab. of Commonw. of P.R. (First Circuit No. 09-1858 Nov. 16, 2010)] that the Americans with Disabilities Act (ADA) does not apply to IC’s and that a medical doctor was an IC. But wait! Read on: The court hinted that it could [...]
WASHINGTON-The Internal Revenue Service recently released final guidance for small employers eligible to claim the new small business health care tax credit for the 2010 tax year. The information release includes forms and instructions. New Form 8941, Credit for Small Employer Health Insurance Premiums, and newly revised Form 990-T are now available on IRS.gov. The [...]
The New York Times reported in an article dated December 19, 2010, “short-term hiring and temporary employees is on the increase…” A larger portion of the total workforce today is temporary workers. According to the U.S. Department of Labor the use of temporary workers has significantly increased in the past year. For example, in just [...]
Many companies classify temporary and contingent workers as Independent Contractors (IC’s) to save money, believing they are safe in doing so. Until reality hits them… In these uncertain economic times the use of contingent workers and independent contractors to get work done is on the increase. This strategy provides flexibility for the company to bring [...]
WASHINGTON DC-Recently Douglas H. Shulman, Commissioner of the IRS, gave a speech before members of the American Institute of CPA’s (AICPA’s) about changes in the IRS for taxes and new programs. One of the statements he made was, “We…use information reported by the taxpayer to make judgments about…returns to audit.” Top three Red Flags that [...]
WASHINGTON DC-Recently Douglas H. Shulman, Commissioner of the IRS, gave a speech before members of the American Institute of CPA’s (AICPA’s) about changes in the environment for the IRS and taxes in general. Taxes are complicated Shulman stated, “…the sheer girth and complexity of the tax code continue to grow, in spite of efforts to [...]
The Department of Labor (DOL) Recently Adopted a Five Year Plan to Increase IC Compliance to the 90% Level in Certain Tracked Industries The U.S. Department of Labor’s “Strategic IC Compliance Plan” for Fiscal Years 2011 through 2016 is now public. The plan was recently released to the public by the Secretary of Labor Hilda [...]
In August I told you about a new approach the U.S. Immigration and Customs Enforcement (ICE) is employing to go after illegal immigrants. The federal government is spending less effort on conducting high-profile police raids of businesses (a tactic used in the Bush Administration) and more time conducting routine audits of employer’s books and records. [...]
A franchisee claims unemployment insurance benefits and causes a subsequent audit and federal court case. Guess what? The court says he’s a misclassified employee! UNITED STATES DISTRICT COURT, DISTRICT OF MASSACHUSETTS-A franchise janitorial service worker, who had purchased his franchise from Coverall North America, Inc., was determined to actually be a misclassified employee. If you [...]
powered by WordPress
