The U.S. Department of Labor is requiring employers to post a notice of the Families First Coronavirus Response Act (FFCRA) regarding paid sick leave and expanded family and medical leave. This must be posted in a conspicuous area on the employer’s premises effective April 1, 2020. If an employer has employees who are working remotely,… Continue reading

Update on Coronavirus-related paid leave for workers and tax credits for small and midsize businesses The U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar,… Continue reading

Questions from employers and employees about coronavirus (COVID-19) pandemic are multiplying almost as fast as the virus itself. Employers need to rely on a combination of authoritative legal and medical advice, and their own common sense, to keep employees safe. Guidance issued almost daily from the Centers for Disease Control (CDC), the U.S. Department of Labor’s… Continue reading

The following table provides some important federal tax information for 2020, as compared with 2019. Some of the dollar amounts are unchanged and some changed only slightly due to inflation. Social Security/ Medicare 2020 2019 Social Security Tax Wage Base $137,700 $132,900 Medicare Tax Wage Base No limit No limit Employee portion of Social Security… Continue reading

Health Savings Accounts (HSAs) are a tax-smart way to cover an individual’s uninsured medical expenses. Your business can set up HSAs for qualifying employees. Then the business can fully or partially fund the accounts or let employees fund them with salary-reduction contributions. While it’s too late to add HSAs to your benefits package for 2019,… Continue reading

The U.S. Department of Labor (DOL) has issued the long-anticipated final version of its overtime eligibility rules. The changes will take effect on January 1, 2020. As a result, the DOL estimates that 1.3 million workers will be newly eligible for overtime pay. Are any of them on your payroll? Read on to find out.… Continue reading

A new final rule from the U.S. Department of Labor (DOL) clarifies some of the ins and outs of multiple employer plans (MEPs). These are defined contribution retirement plans—such as 401(k) plans—that are sponsored by an association or employer group on behalf of member employers. Clarifying the Rules Existing DOL rules already allow MEPs to… Continue reading

First the old news: Under the Affordable Care Act (ACA), employers with at least 50 employees (or full-time equivalents) are required to provide health benefits and pay for a good portion of the cost. And many smaller employers that aren’t required to offer health coverage do so anyway. Why? They may do it to compete… Continue reading

The so-called “gig economy” challenges conventional practices between companies and the people who perform the work. A key question is: Are these workers independent contractors or employees? The U.S. Department of Labor (DOL) recently published a new wage and hour opinion letter, spelling out its position with respect to a specific virtual marketplace company (VMC).… Continue reading