Sorry darling but the IRS has there own problems! Reported the non payment of 1040's and 1099's by one co. alone and nothing was done( mr humphrey.) If this name makes you twitch let me know !!!!!
> ...the U.S. Department of Labor (and by extension the I.R.S.) has taken a serious recent interest in the cable television industry. This is partially due to the overtime class action suit against Orius, but really it is somewhat amazing that they have not gotten around to it any sooner. Logically speaking, if overtime is due then more withholding taxes are also due. Now that the D.O.L. is trying to recoup what they consider theirs, the I.R.S. is starting to remember that independent subcontractors are historically far more prone to not pay federal and social security taxes. If an MSO or prime knowingly and willingly utilizes the services of any company that does not adhere to these federal guidelines then, arguably, they might ultimately be held financially liable by default. Whether you like it or not, this really does make sense. Any disgruntled employee of either an MSO or contractor (and there will certainly be plenty more of them in the near future) could open up Pandora's Box at any given time simply by filing a complaint, thereby initiating an investigation. And the U.S. Department of Labor should be the least of everyone's concern since most of the individual states are experiencing severe budget crunch hangovers due to their excesses and poor future planning brought about by the freewheeling 90's. Better to re-adjust to a new employee based system now, than to have your prime go out of business or into Chapter 11 overnight and/or the MSO shut down yet another project with zero notice. The really sharp primes have been converting to in-house since the mid-nineties when the visionaries realized that this change was inevitable. Consider joining up with one of them since their statistical chances of survival, in what is undoubtedly going to be a highly turbulent period, will be much greater. You can still be a piece work based employee but there are certain guidelines which the prime must follow.
>
> from the U.S. Department of Labor website:
>
> http://library.dol.gov/dol/allcfr/ESA/Title_29/Part_548/29CFR548.500.htm
>
> Title 29
> Labor
>
> Chapter V
> Wage and Hour Division, Department of Labor
>
> Part 548
> Authorization of Established Basic Rates for Computing Overtime Pay
>
> Subpart B
> Interpretations
> Section Number: 548.500
> Section Name: Methods of computation.
>
> The methods of computing overtime pay on the basic rates for piece workers, hourly rated employees, and salaried employees are the same as the methods of computing overtime pay at the regular rate.
>
> Example 1. Under an employment agreement the basic rate to be used in computing overtime compensation for a piece worker for hours of work in excess of 8 in each day is the employee's average hourly earnings for all work performed during that day. The employee is entitled to one-half the basic rate for each daily overtime hour in addition to the total piece work earnings for the day.
>
> [20 FR 5683, Aug. 6, 1955, as amended at 26 FR 7732, Aug. 18, 1961]
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> > The contracting company I work for is turning Employee Based due to the pressures of the MSO's. I expect the company to go to sh** within 6 months of this changeover. I'm just wondering if this is going on anywhere else? My company is in New Jersey.
Re: The reason for this change is that...
Member #: 20638
Registered: 1996-2001
Posted:
4
Name:
A. Settle
Name:
A. Settle
Company:
McClain & Co.
There are 0 replies to this message
