Expert Compliance Insights & Tips for Businesses

IRS-announces-401k-limits for 2020

IRS Raises 401(k) Contribution Limit for 2020

November 12, 2019
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WASHINGTON — The Internal Revenue Service announced that employees in 401(k) plans will be able to contribute up to $19,500 next year. The IRS announced this and other changes in Notice 2019-59 (PDF), posted recently on IRS.gov. This guidance provides cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. Summary of ...
November 7, 2019
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IRS to Seize Properties to Settle ACA Penalties

If your business has gotten IRS penalty notices for Affordable Care Act (ACA, or Obamacare) violations, you may soon get what's called a Letter 5005A -- which means pay up or the agency will levy your bank accounts or property to make good on what's owed. Letter 5005A is sent to employers who did not file their ACA forms 1094-C and 1095-C with the federal tax agency under IRC Section 6721 an...
November 4, 2019
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DOL Issues Fluctuating Work Week Proposal

The Department of Labor (DOL) and its Wage and Hour Division (WHD) today announced a Notice of Proposed Rulemaking (NPRM) that would allow job creators to offer bonuses or other incentive-based pay to employees whose hours vary from week to week.  Labor Secretary Eugene Scalia The proposal would revise the regulation ...

October 31, 2019
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Senate Vote Upholds Trump ACA Waiver Rule

One day before open enrollment begins on the Obamacare exchanges, Senate Democrats forced a procedural vote on a Trump-era regulation allowing states to design their own health care programs, and the Republican Senate held mostly firm with only Sen. Susan Collins of Maine siding with the Dems. The final vote was 52-43 affirming the regulation known as "1332 waivers." The vote was held under ...
October 28, 2019
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DOL Recovers Record $322M in Lost Wages

The Department of Labor (DOL) today announced that the Wage and Hour Division (WHD) recovered a record $322 million in wages owed to workers in Fiscal Year 2019. WHD also set a new record for compliance assistance events in FY 2019, holding more than 3,700 educational outreach events – including on-the-ground presentations and training sessions – to help job creators understand their responsibi...
October 28, 2019
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EEO-1 Pay Data Portal to Remain Open Indefinitely

UPDATE: On Oct. 29, Judge Tanya Chutkan ordered data collection to continue. On. Oct. 25, the EEOC set a final deadline for pay data collection pending court approval: Nov. 11. Previously, on Oct. 8, the EEOC sought court permission to close the pay data collection, reporting that 75.9 percent of potential filers had submitted their data. The plaintiffs in the original lawsuit that reopened the...
October 23, 2019
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Judge Orders U.S. to Pay $1.6B to Obamacare Insurers

In the ongoing saga over cost-sharing reduction (CSR) payments to health insurers, a federal judge has sided with the insurers and ordered the federal government to cough up $1.6 billion. The CSR payments were promised in the Affordable Care Act (ACA, or Obamacare) in exchange for insurers keeping premiums affordable for low-income consumers. The funds, however, were never appropriated by th...
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Obamacare Premiums to Decline, Insurer Choices to Increase, CMS Says

October 22, 2019
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Today, the Centers for Medicare & Medicaid Services (CMS) announced that the average premium for the second lowest cost silver plan on HealthCare.gov for a 27 year-old will drop by 4 percent for the 2020 coverage year. Additionally, 20 more issuers will participate in states that use the Federal Health Insurance Exchange platform in 2020 bringing the total to 175 issuers compared to 132 in ...
October 22, 2019
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DOL Plans Electronic Retirement Disclosures

Consistent with President Donald J. Trump’s Executive Order 13487, Strengthening Retirement Security in America, the Department of Labor (DOL) today announced a proposed rule to allow online retirement plan disclosures to reduce printing and mail expenses for job creators and make disclosures more readily accessible and useful for America’s workers. 

October 22, 2019
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NLRB Mandates E-Filing

The National Labor Relations Board (NLRB) has announced a new policy requiring that all affidavits, correspondence, position statements, documentary or other evidence in connection with unfair labor practice or representation cases processed in regional offices be submitted through the agency’s electronic filing (e-filing) system. On Feb. 24, 2017, the NLRB made certain procedural amendments...