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You know what’s bad? An IRS audit.
You know what’s REALLY bad?
When the IRS claims that many of your 1099 independent contractors are actually W-2 employees!
You see, if that’s the claim they make, you may have to pay tens of thousands of dollars in unpaid payroll taxes!
Why the huge extra tax bill?
Because, though you’re not required to collect and remit payroll taxes for independent contractors…
You are obligated to collect and pay payroll taxes
for your 1099 employees!
But don’t panic.
There may be a way to beat paying your horrendous tax bill.
You may qualify for the safe-harbor provisions of Section 530.
The good news is that the Section 530 safe harbor prevents the IRS from retroactively reclassifying your independent contractors as employees.
That means that if you qualify, you won’t be subject to federal employment taxes, penalties, and interest. You’ve escaped!
How to qualify for Section 530 relief.
- To qualify you must meet three important requirements.
- It’s vital that you know what they are and we’ll explain them fully in my new, must-read issue of the Tax Reduction Letter.
Something you also need to know.
• In order to convince the IRS that you had a reasonable basis for not treating your workers as employees, there are four safe havens you may be able to sail into!
We’ll tell you what they are and explain a whole lot more in crystal-clear language. To get the whole story…
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“Owe Taxes for Misclassified Workers?
It’s Section 530 to the Rescue!”