Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
2010 IRS Employment Tax Crackdown
In the summer of 2009, the Internal Revenue Service (IRS) unveiled its “Employment Tax National Research Project,” an initiative to review and audit comprehensively the employment tax practices of 6,000 randomly selected businesses across the country from 2010 to 2012. It is the first time since the 1980s that the IRS has implemented an employment tax audit of this magnitude. Accordingly, any business selected for this audit should expect an intense and detailed examination into their tax records, compliance, and reporting practices.
The stated purpose of the IRS audit is to collect data that will help the agency better understand the areas in which businesses most frequently fail to comply with employment tax laws and related reporting requirements. The IRS plans to use these audits to secure statistically valid information for computing the “Employment Tax Gap” (the difference between the amount of tax owed by taxpayers and the amount actually paid voluntarily and on time by taxpayers ' last estimated to be approximately $350 billion), and to determine compliance characteristics so that it can address the most noncompliant employment tax areas going forward.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.