One of the hot topics these days is proper classification of workers as employees or independent contractors. Getting it wrong can result in audits, penalties, individual lawsuits and potentially class action litigation. In the face of such daunting exposure and possible liability, it is more important than ever to reassess your particular situation and get it right.
In an unusual move, the IRS has thrown a proverbial bone to employers through the Voluntary Classification Settlement Program. Under that program, qualified employers wishing to reclassify workers previously identified as independent contractors as employees, can do so with a dramatically reduced federal liability exposure and assurance that no further audits will occur. If you are considering such a switch, we can help you work through it. There may not be a better time to do so.