Tax Alert: IRS Announces Voluntary Settlement Program On Worker Classifications

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The Internal Revenue Service has announced a new Voluntary Classification Settlement Program (VCSP). The program provides partial relief from federal employment taxes for eligible employers that agree to prospectively treat workers (or a class of workers) as employees (as opposed to independent contractors) for employment tax purposes.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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