THE ACCIDENTAL ENTREPRENEUR
The European Union took a big step last year towards regulating digital labor platforms – and member states will need to adopt the new directive before the end of 2026. The directive seeks to curb worker misclassification,...more
Reports of investigations and raids related to false self-employment ("Scheinselbstständigkeit") have dominated headlines this week, with authorities increasing their focus on businesses across various industries. Among...more
In a recent press release, HMRC addressed some common misconceptions about who needs to file a self-assessment return before the 31 January 2025 deadline and clarifies some of the most widespread myths....more
The post-Covid influence over the “gig economy” has led to an expansion of self-employed or by-the-job employed individuals in the delivery and transportation industry. CDL jobs have proven they are not immune to this...more
Poland’s Ministry of Labour and Social Policy has announced the basic outlines for a draft amendment to the Labour Code regarding the calculation of seniority....more
In recent years, platforms have developed rapidly. The services offered through platforms, such as delivering food or arranging a ride, are eagerly and frequently used....more
On April 24, 2024, the European Parliament adopted the final text of two new directives, namely: the Platform Work Directive, aimed at improving working conditions and protection of personal data for those engaged in...more
In Soroban Capital Partners v. Commissioner, the United States Tax Court determined that entities formed as state law limited partnerships did not necessarily mean that the limited partnerships’ limited partners were limited...more
In many ways, the labor market is as competitive as ever. Businesses continue to explore compensation packages, in addition to ordinary salary, that will help them attract, hire and retain talent. One method of compensation...more
In recent years, employment status has been an evolving topic globally as various jurisdictions grapple with how to properly categorise increasingly flexible forms of working. A regulatory change in the United States by the...more
The US Department of the Treasury has recently reinforced the progress on enforcement, specifically how the IRS is focused on tax evasion targeting and the targeting of high-income individuals and entities. The IRS has...more
The Tax Court, in a victory for the IRS, recently issued an opinion holding the limited partner exception to the Self-Employed Contributions Act Tax must be construed narrowly. The court held a limited partner under state law...more
The U.S. Tax Court recently issued a precedential opinion in Soroban Capital v. Commissioner, holding that the limited partner exception to the Self-Employed Contributions Act (SECA) in Section 1402(a)(13) of the Internal...more
As readers of this blog can easily discern, the writer is opinionated. But the January 24, 2024 decision in Moody v. Moody offers a case which attempts to focus on how earning capacity should be determined where a person has...more
As inflation has come back into the economy’s conversation in the past three years, we have seen lots of publicity about the adjustments in social security payments to address inflation as well as the system’s overall...more
A recent decision in the US Tax Court affects limited partners and SECA – the Self Employed Contributions Act. In this case, Soroban Capital Partners LP (a hedge fund management company) was formed as a Delaware limited...more
Certain limited partners in venture capital and private equity will likely see an increase in their tax liability due to a recent U.S. Tax Court decision. Generally, partners in a partnership and members in a limited...more
Summary - On November 28, the Tax Court, granting the Internal Revenue Service (IRS) summary judgment, held in Soroban Capital Partners LP v. Commissioner that a state law limited partner who is limited in name only, is...more
Why it is crucial to correctly identify the leading personnel in a company. Members of a company’s leading personnel (leidinggevend personeel/personnel de direction) cannot be put forward as candidates during the social...more
As part of our ongoing series on tax issues for accounting firms, this article provides information on retirement or deferred compensation arrangements, the related rules of Section 409A of the Internal Revenue Code, and how...more
Entrepreneurs and businesspersons interested in operating businesses in the State of Israel must be aware of the obligations imposed on them as self-employed dealers and employers, and cope with a variety of obligations to...more
Last week, the IRS announced “the start of a sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations and promoters abusing the...more
The Washington Employment Security Department (ESD) adopted new rules for the state’s Paid Family and Medical Leave Act (PFML) regarding employer reporting requirements, child placement, and self-employment elective coverage...more
On May 22, Freddie Mac announced new capabilities allowing lenders to use a borrower’s digital paystub data when assessing income paid through direct deposit. Lenders will be able to access the enhancements to Freddie’s...more
For most businesses, turning the calendar to 2023 meant putting the pandemic and any of its tax-related effects further in the rearview mirror. One notable exception, however, is the employee retention credit, or ERC,...more