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    New Colorado Law Increases Penalties for Misclassification of Independent Contractors

    June 11th, 2009

    On June 2nd 2009, Colorado Governor, Bill Ritter, signed H.B. 1310 into law.  Besides being ordered to pay back taxes and interest, should an employer be found to have willfully misclassified employees, the law imposes a $5,000 fine for each misclassification in first time offences, and $25,000 fines for each subsequent willful misclassification, plus a [...]

    No Comments » | 1099 Compliance Legislation | Permalink
    Posted by max525

    Revenue Proposal 2010 – Contractors must provide a Certified Tax ID, or have tax withheld

    June 3rd, 2009

    One of the proposals outlined in the Obama Administration’s proposed budget for Fiscal Year 2010, if enacted, will be effective for payments made to independent contractors after December 31st 2009. Under this proposal any contractor receiving payments of $600 or more in a year from a business would be required to provide that business with [...]

    No Comments » | 1099 Compliance Legislation | Permalink
    Posted by max525