In the December 2011 issue of Spidell’s California Taxletter®, we discussed the IRS Voluntary Worker Classification Settlement Program for misclassified independent contractors. The IRS claims that although it does share taxpayer-specific information with more than 30 states under a memoranda of understanding, the IRS has informed states that it will not share information related to this settlement initiative.
This news should provide some relief for taxpayers that have hesitated to participate in this settlement solely because of a potential audit with the EDD. (E-mail from EDD to Spidell Publishing, Inc., dated November 21, 2011)
At Spidell’s Federal/California Tax Update Seminar we will talk about:
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What property tax is deductible
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How the new federal Schedule D works
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How to treat the sale of gold and silver
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What happens if your client is selling stuff on e-Bay
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New laws coming this year and old laws going away
Click here to register today.
