Your staff members who have caregiver obligations to a family member, or someone with a disability, technically aren’t a protected class under federal law. However, a technical assistance document issued by the U.S. Equal Employment Opportunity Commission (EEOC), “The COVID-19 Pandemic and Caregiver Discrimination Under Federal Employment Discrimination Laws,” indicates the agency will respond to […]
Surging inflation is impacting the benefits you may offer employees in 2023, including health savings accounts (HSAs). In Rev. Procedure 2022-24, IRS adjusted next year’s thresholds for HSAs and high-deductible health plans (HDHPs). And because the updated amounts are so much higher than what they are for this year, you need to let Payroll and […]
Fringe benefits can be tricky when tax time comes around. Keeping complete records helps you avoid legal hassles. Here’s a recent case where an employer’s excellent recordkeeping and reporting kept it out of trouble with the Service. After United Airlines pilots retire, they’re entitled to a special perk from their former employer – free “standby” […]
Inflation hasn’t been this high in decades, and you may be wondering how it’ll affect company benefit costs. You’re not alone. In a recent Mercer survey, most CFOs (68%) said controlling employee health benefit costs is a significant/very significant concern. Among the factors that could potentially drive overall healthcare costs up: higher utilization due to […]
There’s a factor you might not be considering that’s impacting more than 85% of your people’s productivity and hurting your bottom line right now. It’s employees’ worries about their own personal finances. Over half of employees surveyed by SoFi at Work and Workplace Intelligence said that they were more stressed out about their personal finances […]
IRS has released proposed regs on the Setting Every Community Up for Retirement Enhancement (SECURE) Act. If your company offers a defined contribution plan as an employee benefit, the regs contain important info for you. The regs go into detail on the SECURE Act of 2019, which brought many changes to retirement plans. One such […]
While providing comprehensive employee benefits may be expensive, it’s well worth the investment to stay competitive with your peers and retain your best people. Other companies are offering employees a host of benefits. And they’re using them at significant rates. That’s according to the Bureau of Labor Statistics’ (BLS’) latest report on employee benefits in […]
Your team has just received more than an extra month to get one critical year-end return into employees’ hands. IRS just announced proposed regulations to grant an automatic extension for employee copies of Forms 1095-B and 1095-C. Those forms would now be due March 2. And no need to wait until the regs are finalized […]
The updates continue to roll out from IRS. Most recently, the Service provided the 2022 dollar amounts for many common fringe benefits employers offer. Your team will need the latest information to avoid surprises about what must be included in employees’ gross income next year. Here’s a quick look at IRS Revenue Procedure 2021-45 to […]
