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Tax Blawg

Tax Talk for Tax Pros

Introduction

Welcome to TaxBlawg, a resource for news and analysis of current legal issues facing tax practitioners. Although blawg.com identifies nearly 1,400 active “blawgs,” including 20+ blawgs related to taxation and estate planning, the needs of tax professionals have received surprisingly little attention. The Wall Street Journal's Tax Blog gives “tips and advice for filers,” and Paul Caron’s legendary TaxProf Blog is an excellent clearinghouse for academic and policy-oriented news. Yet, tax practitioners still lack a dedicated resource to call their own. For those intrepid souls, we offer TaxBlawg, a forum of tax talk for tax pros.

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MORE BREAKING NEWS: IRS Announces New Voluntary Worker Classification Settlement Program
 
On September 21, 2011, the IRS announced the launching of the Voluntary Classification Settlement Program.  This program will provide employers with the ability to resolve past worker classification issues and achieve certainty under the tax law at a significantly reduced employment tax rate by voluntarily reclassifying their workers. Under the program, eligible employers can obtain substantial relief from federal payroll taxes owed for misclassification in the past, if they agree to prospectively treat workers as employees. In exchange, the employer will pay 10 % of the employment liability that may have been due on compensation paid to workers for the most recent year, determined under the reduced rates of IRC section 3509, will not be liable for any interest and penalties on the liability and will not be subject to an employment tax audit with respect to worker classification of the workers for prior years.  Certain eligibility requirements must be met including that the employer cannot be currently under audit concerning the classification of workers by the Department of Labor or by a state government agency.  This program can be used as a tax planning tool with the advice of your tax counsel.