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IRS Voluntary Worker Classification Settlement Program

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Chicago Legal Latte

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For federal employment tax purposes, workers are classified as either employees or independent contractors. Many business owners either mistakenly or purposely, for purposes of tax savings, mistreat their employees as independent contractors. In such a case, there is danger that the IRS will conduct an employment tax audit and retroactively change this classification. This could result in substantial employment tax liabilities for the company and its owners. Through the Voluntary Worker Classification Settlement Program, businesses meeting certain requirements can voluntarily admit that they have misclassified their workers, in which case their potential exposure is greatly reduced.  This Podcast with Joshua Nesser will explore the Voluntary Worker Classification Settlement Program.

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