Tag Archives: amnesty

VCSP – Voluntary Classification Settlement Program for Employers – Replay

Clarification of the Voluntary Classification Settlement Program for Employers (VCSP). The discussion is based on the information in this Report. Agenda – July 16, 2012 What is the VCSP? What is the deadline? Which employers qualify? What benefits do you get? What are the penalties if you don’t participate, but you get caught? What are […]

Clarification of the Voluntary Classification Settlement Program for Employers

Clarification of the Voluntary Classification Settlement Program for employers (Form 8952) IRS introduced this last year, and I explored how this could affect employers, and whether or not this is a good idea – or an audit trap. [See MarketWatch article.] The VCSP is for business employers , governments and exempt organizations, who have been […]

IRS Announces New Voluntary Worker Classification Settlement Program

[Note: Stay tuned to TaxMama’s TaxWatch column in MarketWatch.com next week, for an anlysis of this program before you participate in it.] Past Payroll Tax Relief Provided to Employers  Who Reclassify Their Workers as Employees WASHINGTON – The Internal Revenue Service today launched a new program that will enable many employers to resolve past worker classification […]

News Flash – IRS Amnesty on Offshore Accounts

Second Special Voluntary Disclosure Initiative Opens; Those Hiding Assets Offshore Face Aug. 31 deadline  Courtesy of IRS [TaxMama note: We have been anxiously awaiting this announcement. IRS had mentioned that this was coming. This will be a huge help to people who never meant to conceal their ‘offshore’ accounts. They just didn’t realize they needed […]