IRS cracking down on Companies using Independent Contractors who should be employees. Please Read! March 30, 2008

  Have you ever thought about that question?  Does it really irk you that you pay taxes that your employer should be paying?  Man, do I have the answer for you. This, to me, is one of the most incredible new things the IRS has done.  Starting in 2007 if you feel that your employer should be taking taxes out and they are not, you can file a specific form and it’s completely private. Your employer doesn’t have to know a thing! And the best part is, you don’t have to pay the self employment tax! Yes, you read this correctly.

So, if you have been really trying to stick it to your employer about him/her not paying your taxes and giving you that dreaded 1099. You know you pay that 15.3% tax and it just makes your stomach turn.  Now, you can turn the tables on your boss without them knowing.  Now, if you are the only “subcontractor” that works at your office or business establishment then it may be not in your best interest to play this card but you know what’s best for you. 

Ladies and gentlemen, this is one of the most progressive moves the Internal Revenue Service has made. This will change the landscape of people who misclassify their workers. This has been a pain in the side of IRS for a long time, and this may be one of the smarter moves they have made.

On the flip side, it may be creating unnecessary work for agents of the IRS. They could be reading alot of disgruntled employees who really want to stick it to their employers. Who knows what will become of this? But this is HUGE.

If you think you may truly be an employee and yet your employer won’t do the right thing, you may want this form. E-mail us at info@capitalconcepts.net and we will send it to you.  Just put in the subject ”we want the form”!