Tag: employers
SR Client Question: Can partners concurrently be employees?
A partner CANNOT be an employee of the partnership. This conclusion is per the following: a) I.R.S. Revenue Ruling 69-184 (1969-1 CB 256, IRC Sec(s) 3121, b) General Counsel Memorandum 34173, 7/25/1969, IRC Sec(s) 119 c) General Counsel Memorandum 34001,...
Tax credit can help employers hiring new workers
The IRS encourages employers to utilize the Work Opportunity Tax Credit (WOTC) to incentivize hiring workers facing significant employment barriers. The credit supports employers who hire individuals from specified categories, such as long-term unemployment recipients and veterans. Recent legislative changes...