Federal Court Overturns U.S. DOL’s Overtime Exemption Rule Nationwide
A Texas federal court overturned a U.S. Department of Labor (DOL) rule that raised the minimum salary required to be paid to most employees classified as exempt from overtime and minimum wage requirements. The court’s decision, that has a nationwide effect, invalidates the DOL’s final rule that put in place a salary level increase on […]
Social Security Wage Base Increases for 2025
The Social Security Administration (SSA) recently announced an increase in the wage base subject to Social Security tax for 2025. Starting Jan. 1, 2025, the maximum taxable earnings for Social Security will rise from $168,600 in 2024 to $176,100, which is an increase of $7,500. This adjustment reflects the cost-of-living increase tied to inflation and […]
IRS Releases 2025 Limits for Retirement Plan Contributions and Benefits
Employees can contribute even more to their 401(k) plans in the upcoming year. Adjusted for the cost of living, effective Jan. 1, 2025, employees can contribute up to $23,500 into their 401(k) and 403(b) plans, most 457 plans and the Thrift Savings Plan for federal employees. This is a $500 jump from the $23,000 limit […]
Michigan Minimum Wage Rate 2025 Increase Schedule
Michigan’s minimum wage is set to increase twice in 2025. The first increase will take effect on Jan. 1, 2025, as part of the standard annual adjustment. A second increase will follow on Feb. 21, 2025, in response to a recent Michigan Supreme Court ruling regarding the Improved Workforce Opportunity Wage Act. From Jan. 1 […]
IRS Resumes Processing Employee Retention Credit Claims, Reopens Related Voluntary Disclosure Program
It’s no secret the Employee Retention Credit (ERC) has been a pain point for the IRS due to the tremendous amount of improper claims received, causing the organization to put a moratorium on processing ERC claims in 2023. However, the IRS recently announced it will resume processing ERC claims filed between Sept. 14, 2023, and […]
Understanding Overtime Rules for Highly Compensated Employees
With the current labor market, many businesses are running with lean teams leading to the possibility of overtime for their employees. A recent U.S. Supreme Court decision serves as a reminder that overtime rules are not always easy to follow. Fair Labor Standards Act The Fair Labor Standards Act (FLSA) establishes the minimum wage, overtime pay, recordkeeping […]
DOL Issues Examples of Unlawful Retaliation Under FLSA, FMLA and Visa Programs
On March 10, 2022, the U.S. Department of Labor (DOL) released guidance containing specific examples of what it considers “unlawful retaliation” by employers under the Fair Labor Standards Act (FLSA), the Family and Medical Leave Act (FMLA) and visa programs. DM Payroll Solutions shares details from the recent guidance to learn how you can practically apply it […]
DOL Revokes 2020 Joint Employer Final Rule
The U.S. Department of Labor (DOL) has issued a new final rule revoking the joint employer final rule under the Fair Labor Standards Act (FLSA) set into effect on March 16, 2020. The new rule has an effective date of Sept. 28, 2021, and was proposed on March 12, 2021. DM Payroll Solutions sheds light […]
DOL Puts Pause on Tip Credit and Worker Classification Rules
After President Biden’s recent memorandum requesting a pause to allow for the review of new and pending rules, the U.S. Department of Labor (DOL) announced there will be delays to the tip credit and worker classification final rules under the Fair Labor Standards Act (FLSA). Keep reading to learn more about the repercussions the final […]