The IRS and Labor Department have renewed a 2011 Memorandum of Understanding to cooperate on enforcement of worker classification rules, with cross-referrals, investigations and imposition of penalties on noncompliant businesses. The new Memorandum is significant because it signals that the... Read More
The $3.5 trillion infrastructure bill has cleared the House tax writing committee and now is the subject of intense negotiations to move it forward. Read More
The congressional tax-writing committees are considering bipartisan legislation that would provide an unprecedented boost in retirement savings. The far-reaching proposals are being billed as the “SECURE 2.0 package”, an extension to the 2019 SECURE Act, which increased the age for... Read More
The U.S. Department of Labor (DOL) has withdrawn a rule put in place by the Trump Administration that would have treated workers in the gig economy as independent contractors instead of employees under federal labor law. In early 2021, under... Read More
One of the highlights of the $426 billion bill signed by the President in late 2019 was the SECURE Act, “Setting Every Community Up for Retirement Enhancement Act of 2019.” This bill was years in the making and includes comprehensive... Read More
Beginning January 1, 2020, the Department of Labor’s (DOL) New Salary Limits for Overtime Exemptions will take effect, making it possible for more employees, regardless of occupation, to be eligible for overtime pay. The DOL’s long awaited final rule, issued... Read More
Companies hoping to sidestep the new limits on the executive compensation deduction may be disappointed with new guidance from the IRS, which restricts the grandfather rules and confirms the expanded scope of covered executives. Notice 2018-68 narrowly construes whether pre-2018... Read More
