The Internal Revenue Service (IRS) recently announced it will be increasing the penalties for employers who fail to comply with the Affordable Care Act (ACA) employer-shared responsibility provisions in 2024. The employer-shared responsibility provisions, also known as the employer mandate, require certain employers to provide affordable health insurance coverage to their employees or face penalties. Qualifying as […]
Are you dissatisfied with your payroll provider, but are worried about the complexities of switching to a new one? Many businesses believe the only time they can change payroll providers is by waiting until the end of the calendar year and running their first payroll in January. The truth is the middle of the year […]
On April 10, 2023, President Joe Biden signed a bipartisan congressional resolution to end the COVID-19 National Emergency after three years. The national emergency was tied to the extension of many deadlines related to employee benefits including COBRA, special enrollment, and claims and appeals, just to name a few. The Public Health Emergency (PHE), which […]
As a follow-up to the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed in 2019, Congress passed a SECURE 2.0 Act in December 2022, aimed to provide even more retirement options for American workers. The latest legislation includes a significant number of provisions impacting retirement plan providers and its employees. There are over […]
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 […]
The EEO-1 report, also referred to as the Equal Employment Opportunity Compliance (EEOC) report or simply “EEO report”, is a mandatory annual reporting requirement for many U.S. employers. The report can be multi-faceted and complex; therefore, it is important employers know what is required of them. What Does the EEO-1 Report Entail? The EEO-1 report […]
On March 8, 2023, the Democratic-led Michigan House approved a package of bills repealing the decade-old right-to-work law and restored prevailing wage requirements for government contracts. The three-bill package passed along party lines with a 56 to 53 vote. Under the repealed legislation, workers at a unionized private sector business who chose not to pay […]
Are you struggling to find workers? For employers facing a tight job market, the Work Opportunity Tax Credit (WOTC) could help offset hiring and training costs by providing a federal business tax credit. The Consolidated Appropriations Act, 2021 authorized the extension of the WOTC until Dec. 31, 2025. In September 2022, the Internal Revenue Service […]
As the first month of 2023 comes to a close, this is a good time to encourage your employees to do a paycheck checkup. With most employees receiving their paychecks direct deposited, it can be easy for them to forget to examine their withholding year-over-year. As their personal financial situations change, their withholding may need […]
The Internal Revenue Service (IRS) recently announced the 2023 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Rate Breakdown Effective Jan. 1, 2023, the standard mileage rate for the use of a vehicle, which includes cars, vans, pickups or panel trucks, will be: […]
