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A Loss of Independents?

A Loss of Independents?

Regulators have rewritten the rules regarding the use of independent contractors, forcing companies to make hard choices — and possibly pay heavy fines.

 As companies make greater use of independent contractors, the Internal Revenue Service is pushing to get many of those self-employed workers reclassified as employees.

For some workers, being an independent contractor offers freedom and a sense of entrepreneurship. For others, it’s simply a fallback position in troubled times. Most employers see plenty of advantages to using independent contractors, and many smaller companies say they depend on them.

READ MORE HERE:  http://www3.cfo.com/article/2011/12/tax_irs-independent-contractors-dol-employee-classification-working-capital-liquidity

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Heritage Income Tax Service, Inc. | 4303 Portsmouth Blvd., Portsmouth, VA 23701
(757) 488-7232 | Fax (877) 488-7232

Heritage Income Tax offers a full range of tax preparation services. Located in Portsmouth, Virginia, we serve the entire Hampton Roads area including the cities of Chesapeake, Virginia Beach, Norfolk, Suffolk, Newport News and Hampton.