4 ms·

I'm pretty sure the only loophole is the necessary authorities not knowing about it.

• codexon 17y ago
  Are you saying that because you actually read the laws, or are you just trying to sound clever? Lawyers are a careful bunch, always having long disclaimers on their websites. I have trouble believing they would bet the future of their million+ funded start-up by depending on the ignorance of authorities. The IRS isn't stupid.
  • jackowayed 17y ago
    I've heard of this consequence of that act a few other times and never heard "but you can get around it if ..." So it's just a guess, but not one that's totally unsubstantiated. And plenty of people break tax laws. I read (on HN, I think) that something like 1/3 of people who work as private contractors under-report their income (which is part of why the IRS is cracking down on "contractors" that really are more like employees). Lots of people work under the table. Until the IRS started asking for the SSNs of people's dependents, lots of people had fictional dependents. (Millions fewer dependents were claimed the first year it was required than the previous year.) The IRS can only audit a tiny percentage of filings. And if it were a 100% unpaid internship where they didn't even pay for a plane ticket or anything, there might be no trace of it anywhere that an audit would see.
  • ig1 17y ago
    You're mistaken: http://www.independent.co.uk/news/barristers-pupils-win-legal-right-to-the-minimum-wage-1121565.html http://www.independent.co.uk/news/barristers-pupils-win-lega...