WASHINGTON DC-The IRS announced two new tax benefits available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law last week.
The first tax credit
Employers who hire unemployed workers this year (after Feb. 3, 2010 and before […]
The two thousand plus page Health Care and Reconciliation Bills are complex and rich with provisions that will take time to be fully discovered. Many of the provisions that create additional costs and that have the greatest effect on our lives, do not take effect immediately, but will be phased in over the next decade.
Here […]
Washington DC-Senator John Kerry, D-Massachusetts, and Representative Jim McDermott, D-Washington, have both introduced almost identical bills, in their respective houses, that would greatly limit the current provisions of the Section 530 Safe Harbor, require 1099 reporting of payments made to corporations and increase penalties against companies who misclassify workers.
The bills are HR 3408 and S […]
Last week I attended the 2010 Staffing Industry Analysts (SIA) Executive Forum in Las Vegas. This year’s conference (now in its 19th year) had a theme of “The Upside of the Downturn…Thriving in a Brave New Staffing World.” More than 500 senior executives from staffing, consulting, and human capital services firms gathered for three days […]
WASHINGTON - The Internal Revenue Service announced this week that interest rates for the calendar quarter beginning April 1, 2010 are:
four (4) percent for overpayments for non corporations
three (3) percent for overpayments in the case of a corporation;
four (4) percent for underpayments for all;
six (6) percent for large corporate underpayments;
one and one-half (1.5) percent for […]
WASHINGTON - The IRS recently announced that, “Workers who lose their jobs during January and February may qualify for a 65-percent subsidy on their COBRA health insurance premiums, and these newly-eligible individuals, along with those already receiving the subsidy, can now receive it for up to 15 months…”
This is an opportunity to help those who […]
WASHINGTON, DC - President Obama signed a presidential memorandum to stop companies who are delinquent in their taxes from collecting on government contracts. While signing the memorandum he stated, “(they are) gaming the system…We need to make sure every tax dollar we spend is going to address our nation’s urgent needs and to make a […]
Under today’s law, if you engage a corporation, or a consultant through his corporation, to perform a service for your company there is no requirement to issue a Form 1099 for the payments made to the corporation. That’s about to change!
H.R. 3590, Section 9006, the Heath Care Bill passed by the House of Representatives on […]
A reported recent ruling in a New York federal district court held that payments made to a worker, who was both an independent contractor and an employee with the same business, could not be combined to avoid paying overtime compensation under the FLSA.
She was an employee but also provided a separate service in her established […]
Just as you are thinking of increasing the use of IC’s and contingent workers the government is gearing up its workforce of auditors and investigators to penalize you for misclassifications.
Want proof?
FACT: In February of this year the Government Accounting Office (GAO) in Washington, DC issued a report to Congress criticizing the IRS for not being […]
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