Monday, February 22, 2010

Small Business Employment Tax Audits

For the last couple of years, the IRS has increased the number of employment tax audits each year. It appears that they are increasing the number of audits for 2010.
In September of 2009, the IRS was training thousands of new auditors, so I guess the training is over. Get ready.
The areas that will be reviewed is the old argument of independent contractor v/s employee. Also we see a push to review compliance for small business corporations that include shareholder salaries.
The IRS needs more revenue, so make sure you are getting good tax planning.

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