On January 6th, the Department of Labor released the final independent contractor rule. The current effective date of the rule is March 8th; however, the incoming Biden administration has already indicated this regulation may be frozen upon taking office, and thus may not take effect at that time. For real estate professionals, the rule does not change their classification as independent contractors under the Internal Revenue Code, nor does it preempt the many states laws classifying real estate professionals as independent contractors. View more info here.