The IRS has extended its Voluntary Classification Settlement Program, whereby taxpayers who believe they have erroneously classified workers as independent contractors instead of employees may file an application with the IRS. This allows them to have federal payroll tax exposure drastically reduced (by as much as 90 percent for some) for the years in which workers should have been treated as employees.
If Bush appoints a Presidential Emergency Board, the December 21 deadline for strike or settlement would be extended an additional 60 days -- until mid-February.