IRS stepping up audits on independent contractors

Better cross those T’s, dot those I’s, and make sure you’ve got good documentation for all those write-offs on your tax returns…

According to NAR, the IRS has announced an expansion of audits of small businesses during 2010 to assess compliance with employer payroll tax rules and rules that apply to independent contractors. The IRS is assessing compliance, and not targeting any particular industry.

Here’s a story that sheds some more light on this development.

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2 Responses to IRS stepping up audits on independent contractors

  1. Les Sulgrove says:

    Hello Ben,
    NAR Legal Counsel, Laurie Janik was in Iowa last week speaking to the Iowa Assn of REALTORS giving her Top Ten Issues facing Real Estate agents in 2010. See #8!

  2. Thanks for the comment and for sharing that post, Les. Laurie has a great way of making complex legal information easy to understand.

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