H.R. 5804 would amend the Internal Revenue Code of 1986 to modify the rules relating to the treatment of individuals as independent contractors or employees.
Detailed Summary
Taxpayer Responsibility, Accountability and Consistency Act of 2008 - Amends the Internal Revenue Code to: (1) require reporting to the Internal Revenue Service (IRS) of payments of $600 or more made to corporations; (2) set forth criteria and rules relating to the treatment of workers as employees or independent contractors; and (3) increase penalties for failure to file correct tax return information or comply with other information reporting requirements.
Requires the Secretary of the Treasury to issue an annual report on worker misclassification.
Status of the Legislation
Latest Major Action: 4/15/2008: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
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Points Against
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