There has been a relief requirement around since 1978 – it’s called Section 530.
Because it’s from so many years ago, it was thought the when the amnesty program (the voluntary compliance program) came out that it would replace Section 530. But here we are years later and both Section 530 and the amnesty program are still in place. Section 530 of Revenue Act of 1978 provides certain safe harbor rules for the misclassification of workers. Three requirements must be met to receive relief - reporting consistency, substantive consistency, and reasonable basis. This video reviews those requirements and discusses current headlines regarding independent contracts and misclassification cases.
IRS CIRCULAR 230
Any tax advice included in this written or electronic communication was not intended or written to be used, and it cannot be used by the taxpayer, for the purpose of avoiding any penalties that may be imposed on the taxpayer by any governmental taxing authority or agency.
Marcia L. Miller, M.B.A., E.A.
Financial Horizons, Inc.
- President and owner of Financial Horizons, Inc., a full service accounting and tax firm
- Enrolled agent entitled to practice before the Internal Revenue Service
- 40 years of accounting, tax and management consulting in South Florida for a practice with an emphasis on representing small business owners in all aspects of taxes, employment and labor issues, pensions, estate planning as well as federal, state (nationwide) and foreign mandatory reporting
- Federal appointment successfully completed for a three year term to the Internal Revenue Service's Information Reporting Program Advisory Committee (IRPAC)
- Author, speaker and teleconference expert, for various national companies and accounting organizations at their annual conferences, lecturing on a multitude of tax, technical and non-technical topics focusing on the areas of tax planning, management and health care reform
- Managing director, Transition Advisors, LLC, leading CPAs through transition with succession and M & A strategies
- Live presenter at the 2016 CCH Annual User's Conference and FICPA Chapter meetings regarding Succession Planning for CPAs
- Previous nationwide presenter of tax legislative seminars for Thomson Reuters' Bell Learning Series on current business taxation and accounting issues
- Former adjunct professor at Nova Southeastern University's H. Wayne Huizenga School of Business and Entrepreneurship
- M.B.A. and B.B.A. degrees, University of Miami School of Business
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