As further evidence of the Federal Government’s stepped up interest in closing the “tax gap” caused by employee misclassification, a new federal bill to get tough on companies that misclassify employees as independent contractors was introduced last Thursday, April 22, 2010, by U.S. Sen. Sherrod Brown (D-OH) and U.S. Rep. Lynn Woolsey (D-CA). The “Employee Misclassification [...]
In an article posted on April 6, 2010, I informed you of this tax credit and how to qualify. The Health Care Bill Provides a Conditional Credit for Small Employers You can find a complete synopsis of this tax credit in that article. This week state and federal government agencies began to officially announce this [...]
Regular readers of this blog might think I’m “The boy who cried wolf,” or perhaps Chicken Little-always crying “The sky is falling”! I write article after article warning you that enforcement of the independent contractor classifications is toughing up on both the local and national levels. I’ve been calling it the Perfect Compliance Storm for [...]
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 create additional costs. For example, the law requires employers to provide health insurance for their employees or face harsh penalties. However, the law also provides some opportunities [...]
The two thousand plus page Health Care and Reconciliation Bills are complex and rich with provisions that will take time to be fully discovered. In this article I’ll explore some of the new taxes, fines and penalty provisions that affect employers and their workers. Many of the provisions do not take effect immediately, but are [...]
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 [...]
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. [...]
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 [...]
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 [...]
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