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New IRS Voluntary Worker Reclassification Program

November 10, 2011

By Stephen Harris, Eric Keller, Stephen Turanchik & Amy Lawrence

This Stay Current reviews a recent announcement from the Internal Revenue Service. The new initiative the Voluntary Classification Settlement Program provides partial relief from federal employment taxes for employers with potential exposure relating to independent contractor worker classification, if they agree to prospectively treat workers as employees. In considering potential program participation, employers should consider not only the program itself, but also the practical issues associated with participation.