IRS offers program to help businesses properly classify their workers

01/17/2012 |

Deciding whether your workers are independent contractors or not can be tricky, but the IRS is offering an initiative called the Voluntary Classification Settlement Program, which can help make things right if you have made a mistake in the past. This initiative can allow you to reclassify workers and pay only a fraction of the resulting tax liability. Businesses can complete the Application for Voluntary Classification Settlement Program to apply for the program. Talk to an accountant before signing up, Karen Axelton writes.

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