Bulletins

Key ACA Taxes Repealed in 2020

OVERVIEW On December 20, 2019, President Trump signed into law a spending bill that prevents a government shutdown and repeals the following three taxes and fees under the Affordable Care Act (ACA): The Cadillac tax on high-cost group health coverage, beginning in 2020; The medical devices excise tax, beginning in 2020; and The health insurance […]

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IRS Provides Transition Relief for 2019 ACA Reporting

OVERVIEW On December 2, 2019, the Internal Revenue Service (IRS) issued Notice 2019-63 to: Extend the due date for furnishing forms under Sections 6055 and 6056 for 2019 from January 31, 2020, to March 2, 2020; Extend good-faith transition relief from penalties related to 2019 information reporting under Sections 6055 and 6056; and Provide additional […]

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DOL Issues New Salary Limits for Overtime Exemptions

OVERVIEW On Sept. 24, 2019, the U.S. Department of Labor (DOL) announced a new final rule that updates the salary thresholds that some individuals must meet in order to qualify for a minimum wage and overtime exemption under the federal Fair Labor Standards Act (FLSA). The final rule becomes effective on Jan. 1, 2020. The […]

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Compliance Bulletin: New York Equal Pay Expansions

New York State is leading the way in anti-discrimination in the workplace. As we first notified you in July, the state has amended its pay equity laws in three significant ways. The first two changes outlined below take effect October 8, 2019, while the third change goes into effect early next year.   EFFECTIVE OCTOBER […]

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2020 NY PFL Rates Released

On August 30th, the Department of Financial Services (DFS) published the NY Paid Family Leave (PFL) premium rate percentage for the 2020 calendar year. The New York State Average Weekly Wage was also announced.   For 2020, the employee contribution rate for Paid Family Leave will increase from 0.153% to 0.270% of an employee’s gross wages each pay […]

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