Testifying before a House subcommittee, Department of Labor (DOL) Secretary Hilda Solis recently detailed plans for fiscal 2011 to use $1.7 billion out of a budget of $116.5 billion, along with 10,957 employees out of 17,800 total, for what she called "worker protection activities."
Plans also call for adding another 90 inspectors to the Wage and [...]
As reported here this past November when the Internal Revenue Service (IRS) announced its plans, the federal tax agency has commenced the first phase of its audit of 6,000 firms of all sizes and industries to root out abuses of executive pay, fringe benefits, record-keeping, and misclassification of employees as independent contractors.
The Employment Tax National [...]
Strapped for cash, the Internal Revenue Service has announced plans to audit 6,000 businesses, both large and small, with a focus on worker misclassification, fringe benefits, reimbursed expenses, and executive compensation.
If the IRS discovers personnel listed as independent contractors who are in fact company employees, the results could be costly. The firm could owe large sums [...]
I found this (now-purloined) graph prepared by an economist writing about health care in the United States in the New York Times. His purpose was much different than mine. I’m reproducing it to show how politicians blatantly lie every time they say they’re going to tax the wealthy and leave the middle class alone. Yeah, [...]
Read the rest of this entry »Now, if you think about it, there’s only one institution in our nation capable of wasting that many hours of people’s time…our good ol’ government.
For the answer to what takes that long, think April 15.
Yup, it takes all of us and our tax preparers and accountants and whoever else is involved 7.6 billion hours each [...]
A tax law doctrine known as “constructive receipt” could put those AIG employees who returned their bonuses in jeopardy of having to pay taxes on them anyway.
Goes like this: Constructive receipt prevents people from gaming the system, say by performing work in late 2008 and asking to be paid in 2009 to reduce tax liability [...]
