Tuesday, March 15, 2011

Today's CPA: IRS has Planned 6,000 Worker Classification Audits!!!

'...the most comprehensive IRS examination of employment taxes in decades" IRS is not just going after business owners for unpaid employment taxes. Under the gun is 401(k) plans, pension plans and welfare plans; "...reclassified workers may claim they were improperly excluded from such plans and are entitled to health benefits and matching contributions, potentially retroactively". What does this mean for Independent Contractors? Structuring your business to pass the audit may keep you from starving to death!

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