Correcting worker classifications just got easier
September 24, 2008 by Carol KatarskyPosted in: Best practices, IRS regs, In this week's e-newsletter, Latest news & views, Tax compliance
Making a worker classification adjustment? IRS just made it a lot easier for your company.
If your company is reclassifying a worker as an employee after receiving a determination letter from IRS, you know you need to pay the employee FICA and federal income withholding taxes.
A new legal memorandum from IRS makes doing that a little easier. You won’t have to pay interest on the previously underpaid amounts.
To download all the details, check out IRS Legal Memorandum 200825043.
Tags: A/P, IRS, Payroll, Resource, Worker classification
