One business that claimed a research tax credit ended up with a tax penalty instead. The company fought back in court, but the situation didn't end well. The shipbuilding company had claimed the tax credit, found in Internal Revenue Code…
Payroll
The U.S. Supreme Court has reached a decision in the case of a highly compensated employee who sued his employer for unpaid overtime. In Helix Energy Solutions Group Inc. v. Hewitt, the court said that although the employee earned more…
For employees on reduced schedule FMLA leave, 12 workweeks will get converted into days, hours or minutes. But that can trip up employers, new guidance shows. The Department of Labor (DOL) just released an opinion letter focused on reduced schedule…
Finance pros with lingering compliance concerns about employees working remotely will find insight, albeit limited, in new guidance. In Field Assistance Bulletin 2023-1, the Department of Labor (DOL) discussed the implications of two laws for employers with teleworkers. The laws…
Among the many provisions of the Secure 2.0 Act, several deal with the paperwork responsibilities that fall on retirement plans. The Secure 2.0 Act, which became law on December 29, 2022, amends some sections of the Employee Retirement Income Security…
In March and April, some of your peers will receive CP2100/CP2100A notices from IRS that will require them to mail out B notices notifying vendors and contractors that they need to update their Form W-9, or else payments will be…
Earned wage access, also known as on-demand pay, is being leveraged by your peers as a key recruitment and retention tool for workers who may be strapped for cash right now because of the high prices of gas, energy bills…
High inflation continues to impact businesses. One of the latest examples? Costlier penalties for breaking workplace laws. Several federal agencies released final rules, announcing increased amounts for 2023. Here's a brief rundown of five of the workplace laws included in…
Avoid penalties: Electronic workplace posters belong in the ‘break room,’ not the ‘custodial closet’
It'll cost more in 2023 if you don't display the required workplace posters. To complicate matters, electronic postings may be allowed, or even required. Back before the rise of remote and hybrid workforces, the Department of Labor (DOL) released guidance…
The Census Bureau requires businesses to complete the Economic Census to report on years ending in 2 and 7. With that in mind, watch out for this deadline: March 15, 2023. The survey is one way to measure the economy…
In 2022 about a dozen states put law changes - some at the constitutional level - directly into the hands of the voters on Election Day. Here are some of the major measures that passed that may require you to…
As Finance pros know, self-insured group health plans may be more cost-effective than fully insured plans – more financially risky, too. Whether you already sponsor such a plan or are weighing pros and cons, you should know IRS has released…
