Legal Alert - The IRS Modifies the Voluntary Classification Settlement Program
January 09, 2013
by Carlene Y. Lowry, Geoffrey L. Gunnerson, Mark A. Ziemba and Tiffanny Brosnan
On October 4, 2011, we reported on the Voluntary Classification Settlement Program (VCSP), a program in which the IRS permits employers to prospectively reclassify workers as employees in exchange for limited federal employment tax liability, no interest or penalties, and without an IRS audit or administrative correction procedure.
On December 17, 2012, the IRS announced certain clarifications and revisions to the program in response to taxpayer and practitioner feedback.
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