IRS Announces Voluntary Worker Classification Settlement Program ("VCSP")

IRS Announces Voluntary Worker Classification Settlement Program ("VCSP")

Past Payroll Tax Relief Provided to Employers Who Reclassify Their Workers The Internal Revenue Service launched a new program on September 21, 2011 giving many employers an affordable option to resolve past and present worker classification issues by voluntarily reclassifying their independent contractor or nonemployee workers as employees.  The Vountary Classification Settlement Program (“VCSP”) is part of … Continue reading IRS Announces Voluntary Worker Classification Settlement Program ("VCSP")

Deadline Extension – 2011 Offshore Voluntary Disclosure Initiative

Deadline Extension – 2011 Offshore Voluntary Disclosure Initiative

On August 26, 2011, the Internal Revenue Service extended the deadline for participation in the 2011 Offshore Voluntary Disclosure Initiative to September 9, 2011. My communications with the IRS during the past week indicate that the Service will be much more ridged during this 2011 Initiative than it was during the 2009 Initiative.  The civil review … Continue reading Deadline Extension – 2011 Offshore Voluntary Disclosure Initiative

The August 31 Deadline Is Fast Approaching for the Second Special Voluntary Disclosure Initiative of Offshore Accounts

The August 31 Deadline Is Fast Approaching for the Second Special Voluntary Disclosure Initiative of Offshore Accounts

  Time is running out to avoid some major penalties and potential criminal liability.  We’ve discussed this program in our posts here and here.  We’re getting more and more phone calls of people trying to get in before this opportunity ends.  There has been no indication from the IRS that there will be a third disclosure initiative. … Continue reading The August 31 Deadline Is Fast Approaching for the Second Special Voluntary Disclosure Initiative of Offshore Accounts

New Opportunity for California Taxpayers Who Avoided Tax Bills

New Opportunity for California Taxpayers Who Avoided Tax Bills

In concert with the IRS’ Voluntary Disclosure Program discussed here and here, California is also keenly interested in offering some amnesty to taxpayers who “avoided tax bills” if it mean capturing further state tax revenue.  However, the program starts today and the deadline of October 31, 2011 to participate in California’s  Voluntary Compliance Initiative is quickly approaching.  The benefit of avoiding … Continue reading New Opportunity for California Taxpayers Who Avoided Tax Bills