Bill would tighten independent-contractor tax regulations

09/18/2007 | Associated Content

Four Democratic senators have introduced a bill that would close the section 530 tax loophole that allows employers to classify employees as independent contractors. Sens. Barack Obama, D-Ill.; Dick Durbin, D-Ill.; Edward M. Kennedy, D-Mass.; and Patty Murray, D-Wash., are seeking to increase government tax revenue and protect misclassified employees from losing out on overtime and from paying higher tax rates.

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