Federal and state courts hearing overtime pay disputes will always defer to the maxim that the employer must prove employees aren't subject to the OT they claim is owed. Unless an employee meets the salaried, "white-collar" exemption (executive, administrative, professional…
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A federal appeals court could weaken a 50-year-old muzzle on companies and individuals that settle securities fraud allegations. And there's a good chance the U.S. Supreme Court will weigh in on the matter soon enough. The U.S. Securities and Exchange…
A finance employee at a multi-national company recently transferred money at the direction of the CFO during a video call. Other finance co-workers whom the employee recognized sat in on the call. The employee dutifully made 15 separate electronic transfer…
Which Fair Labor Standards Act (FLSA) provision cost employers the most in back wages, according to the latest stats? If you guessed overtime, you'd be right -- by a long shot. Overtime was about five times costlier than the other…
Good news: The IRS updated its Form 1099-K FAQ fact sheet. The Service revised guidance for two dozen of the most common queries that it receives regularly. 1099-K compliance can be one of the more aggravating tax-reporting chores for businesses…
Companies are looking for any way they can to reduce costs. We know, the more things change, the more they stay the same. But there's no question 2024 is shaping up to be a major year for cost-cutting. CFOs and…
Less than six months ago, United Parcel Service (UPS) announced its full-time drivers would be paid $170K per year in salary and benefits after tough negotiations with the Teamsters union. Many in business cheered the news - UPS drivers are…
Whether they're triggered by criminal fraud, duplicate charges, a technical glitch or a dissatisfied customer, credit card chargebacks can become a nagging pain point for A/P and a disruptor to the efficiency and profitability of your business. In fact, Mastercard…
Pat's and Geno's in South Philadelphia are the most famous cheesesteak destinations for tourists who come to Philadelphia. But locals know you're better off heading a little further south into the city for a steak sandwich at Tony Luke's (or…
Companies are likely to see more customers stretch payments in 2024. Don't be surprised if a steady client ghosts you either. Reason: Bankruptcy filings by individuals and businesses increased by more than 18% in 2023. And Chapter 11 reorganization filings…
The second-largest accounting firm in the U.S. decided to revamp its hiring policies rather than face class-action lawsuits or an investigation by the Equal Employment Opportunity Commission. This is just the latest example of a private-sector company adjusting in response…
IRS just released guidance on a new type of emergency savings account, created under the Secure 2.0 Act of 2022. Employers can start offering pension-linked emergency savings accounts (PLESAs) in plan years that begin after December 31, 2023. By way…
