Posts tagged 'AIG'

March 31, 2009
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AIG Bonus Controversy — Worker Perspective

AIG AIG bonuses bonuses
Yesterday, we learned that the IRS can conceivably tax even those who returned their bonuses to AIG using the tax law principle of constructive receipt. Today, there comes to light an e-mail sent this past Friday to AIG employees from someone with the screenname of "Bottom of AIG's Food Chain." It generally portrays/betrays the angst felt by AIG employees who had to take pay cuts while execs w...
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March 30, 2009
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Ouch, Now That Hurts: Returned Bonuses May Be Taxable!

AIG AIG bonuses IRS
A tax law doctrine known as "constructive receipt" could put those AIG employees who returned their bonuses in jeopardy of having to pay taxes on them anyway. Goes like this: Constructive receipt prevents people from gaming the system, say by performing work in late 2008 and asking to be paid in 2009 to reduce tax liability by shifting it forward. This is a no-no, but obviously it's pretty eas...
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January 21, 2009
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Bailout Blues: Tax Shelters and Huge Bonu$e$

AIG Bank of America Citigroup Henry Paulsen
The Associated Press recently reported that 600 executives at the banks just bailed out by the U.S. government took in $1.6 billion in salaries, bonuses and perks last year. That comes to about $2.6 million per exec, but we all know that not all execs are created equal. Then came this news from the Government Accountability Office (GAO), which searched publicly available data filed with the Se...
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U.S. Department of Labor Officially Restores Prior Overtime Exemption Rules

On May 14th, 2026, the Wage and Hour Division (WHD) of the U.S. Department of Labor (DOL) announced it has officially rescinded the 2024 overtime exemption rules. Specifically, the WHD published a technical amendment to restore previous 2019 regulations that dictated overtime exemptions for...

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NLRB General Counsel Takes Action to Tackle Current Case Backlog
NLRB General Counsel Takes Action to Tackle Current Case Backlog

On May 6th, the National Labor Relations Board (NLRB) and NLRB General Counsel Crystal Stowe Carey announced the bulk transfer of thousands of labor practice cases. Specifically, this action fulfills an initiative signed by the NLRB General Counsel earlier this year. Overall, the initiative...

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Privacy Agency Invites Comments from Businesses on the CCPA’s Usage of Personal Data
Privacy Agency Invites Comments from Businesses on the CCPA’s Usage of Personal Data

Recently, the California Privacy Protection Agency (CPPA) issued a call for comments on the current state of personal data collection under the California Consumer Privacy Act (CCPA). Specifically, the invitation to deliver remarks was issued on April 20th, 2026. The information provided by the...

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DOL Proposes New Joint Employer Rule To Unify Standards Under Federal Labor Laws
DOL Proposes New Joint Employer Rule To Unify Standards Under Federal Labor Laws

In April 2026, the U.S. Department of Labor issued a proposed rule to establish a single, clear standard for determining when joint-employer status applies under three major federal laws: the Fair Labor Standards Act (FLSA), the Family and Medical Leave Act (FMLA), and the Migrant and Seasonal...

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DOL Updates Enforcement Approach for Employee Benefit Plans: What Employers Should Know
DOL Updates Enforcement Approach for Employee Benefit Plans: What Employers Should Know

The U.S. Department of Labor (DOL) recently announced a significant change in its enforcement of employee benefit plan rules. The DOL will now focus more closely on serious violations that harm workers and retirees, meaning compliant employers may face less scrutiny under the updated approach.

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