News

New IRS Program for Misclassified Employees Announced

September 29, 2011

On September 21, 2011, the Internal Revenue Service announced a new initiative, called the Voluntary Worker Classification Settlement Porgram, which allows businesses that have been improperly labeling their employees as independent contractors to reclassify workers and make only a small payment to cover past payroll taxes.

See this memorandum prepared specifically for National Limousine Association members for more details as well as the full announcement made by the IRS.