According to a Department of Labor release, a newly issued rule increases the salary threshold required to exempt a salaried bona fide executive, administrative or professional employee from federal overtime pay requirements. The release states, “Effective July 1, 2024, the salary threshold will increase to the equivalent of an annual salary of $43,888 and increase […]
For those having their wages levied by the IRS, the levies are sent to the tax debtor’s employer via Form 668-W, Notice of Levy on Wages, Salary, and Other Income. This form contains six parts. Prior to the Tax Cuts and Jobs Act (TCJA), the employer was required to give the employee the Statement of […]
The IRS and state tax authorities have made significant strides in curbing individual identity theft over the last several years. With a decrease in individual identity theft, cyberattacks against businesses are on the upswing now. Here are some simple ways business taxpayers can help protect their data from hackers. Trends in ID Theft In February, […]
Feeling the urge to purge? Summer’s coming, so it’s likely you’re wrapping up your spring cleaning before your summer fun begins. April 17, 2018 was the deadline for individuals and C-corporations to file their federal income tax returns for 2017 (or to file for an extension). Before you throw out your old financial records, however, […]
When it comes to violations of the labor law posting requirements, it’s not that these mandatory notices aren’t displayed prominently. It’s that they are not displayed at all, says the Equal Employment Opportunity Commission (EEOC). And that’s a problem. Typically the EEOC is alerted to the issue by employees who are aware of the requirements […]
Surveys of job seekers — often performed by recruiting firms — reveal a variety of reasons why would-be applicants may decide to bypass your company. Some individuals may complete the application but through that process develop a negative preconception about your business. This is particularly true with younger job seekers. High on the list of […]
Finally the IRS addresses a problem experienced by some employers and not-for-profit organizations: the misclassification of workers in “sheltered workshops” as independent contractors rather than employees. IRS Revenue Ruling 65-165 clarifies the treatment of disabled workers in the following situations: Individuals in training in a rehabilitation program designed to prepare them for placement in private […]