IRS To Scrutinize Distinction Between Employees, Contractors As ACA Mandate Takes Effect.
The New York Times reports that the IRS is expected to more heavily scrutinize the distinction between employees and self-employed independent contractors this year because of the Affordable Care Act’s requirement that employers with more than 50 workers offer health coverage. Jeffrey Saviano, Americas director of indirect tax at Ernst & Young, said, “The stakes are […]
Major 2011 Employment Tax Changes!
In conjunction with the Federal Government’s efforts to provide tax relief to the American worker, significant reductions in Social Security taxes are being passed on to “employees”. On December 17, 2010, information was released by the IRS regarding 2011 “payroll tax cuts”. Throughout 2011, the “employee tax rate” for Social Security contributions will be 4.2%, […]