Employment tax and worker classification not subject to TEFRA


In Field Attorney Advice 20145001F, the IRS concluded that the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), P.L. 97-248, does not apply to employment tax or worker classification examinations; therefore, agents do not need to follow TEFRA’s partnership unified audit provisions procedures in examinations of employment tax deficiencies or worker classification issues for persons otherwise subject to TEFRA procedures with respect to income tax deficiencies.

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Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.