Look anywhere in the media, and you will find indicators that predict there is The Perfect Independent Contractor Compliance Storm threatening American businesses on the horizon.
What indications predict this “Perfect Storm”?
There are powerful economical, legal and political forces merging to create a unique historical situation.
Government at all levels is […]
In an economic downturn when many companies are cutting back, one federal agency is commencing its largest hiring initiative in decades. The IRS plans to hire more than 3,500 additional enforcement agents. Over 2,000 of the new hires will be revenue agents and revenue officers, the IRS announced in a statement made by Deputy […]
Question(s) of the Week-Do you know:
1. How many IC’s are currently providing services in your company?
2. How much your IC’s are costing you?
3. How long a specific IC has worked for you?
4. Is a specific IC meeting your expectations-providing all the deliverables?
5. Will the IC status stand up under a government tax audit?
I’ve met […]
The unemployment rate is still climbing across the nation. For example:
Michigan’s rate reached 11.6 percent in January, the highest in the country.
Second-highest was South Carolina at 10.4 percent.
Rhode Island was next at 10.3 percent, which marked an all-time high for the state.
California rounded out the top four, when the Employment […]
There are not many times in history when events seem to merge to insure the government will take extraordinary measures to enforce IC compliance laws and collect every possible dollar in taxes.
I believe this is one of those special times. In the next few years tax agencies will be given more powerful tools and […]
In this increasing paperless world the use of a Pay Card solution for your W-2 employees or 1099 contractors may look pretty good. However, there are some issues you should consider before traveling down this road.
The California Labor Code only specifies three ways to pay your employees
Current California Law specifies three legal methods […]
(Also see IRS Taxpayer Advocate Urges Congress To Simplify Taxes and Revise the IC Rules, posted below on January 20, 2009).
They were honest and unintentional mistakes.
Timothy F Geithner, the new Secretary of Treasury who oversees the IRS, can personally attest to the tax law’s complexity. During his confirmation hearings it was disclosed that Mr. […]
Two More Executives Withdraw From Possible Presidential Appointments Because of the Complexities of Tax Compliance
Washington: Tom Daschle withdrew Tuesday, February 3, 2009 as President Barack Obama’s nominee for Health and Human Services Secretary, citing that questions swirling around his tax troubles were too distracting for him to be the best person to help Obama […]
That’s correct! In California, for example, the payer must report the independent contractor to EDD within 20 days of paying or for contracting for $600 or more in personal services. Since you must report the IC just for anticipating paying him/her $600 or more, it is possible the report is due before the first […]
The Internal Revenue Service issued the 2010 standard mileage rates used to calculate the deductible costs of operating an automobile for business purposes. Beginning on January 1, 2010, the standard business mileage rates for the use of a car (this also includes vans, pickups or panel trucks) will be 50 cents per business mile driven. […]
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