Announcement 201164 I PURPOSE The Internal Revenue Service IRS has developed a new program to permit taxpayers to voluntarily reclassify worker s as employees for f ederal employment tax purposes The Voluntary Classification Settl ement Program VCSP ID: 35791 Download PdfTags :
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Presentation on theme: "Part IV Items of General Interest Voluntary Classificati on Settlement Program This document provides notice and deta ils regarding a new Internal Revenue Service Voluntary Classification Settlement"— Presentation transcript
Voluntary Classificatiils regarding a new The Internal Revenue Service (IRS) s as employees for fement Program (VCSP) allows eligible workers for federal employment tax purposes he current Classification Settlement Program (CSP). The VCSP is optional an Whether a worker is performing services as an employee or as an independent facts and circumstances and is generally determined services. In some factual situations, the employees, with reduced federal employment tax liabilities for past nonemployee business and tax examiners to resolve the worker nty for taxpayers, employees outside of the normal administrative correction procedures applicable to employment taxes. The VCSP is available for taxpayers currently treating their workers (or a class or group of workers) as independent employees. To be eligible, a taxpayer mustnonemployees, and must have filed all requihe taxpayer cannot currently be under audit by the IRS. s will only be eligible if the A taxpayer who participates in the VCSP x periods. In exchange, the taxpayer will pay 10 percent of the employment tax liabipenalties on the liability; and will participating in the VCSP will agree to extend Eligible taxpayers who wish to participate in the VCSP must submit an tion about the VCSP and the contact or an authorized represeligibility. The IRS retains VCSP. Taxpayers whose application has agreement with the IRS to finalize the term Joseph Perera of the Office of the Division Counsel/Associate Chief Counsel (Taxfurther information regarding this announcem