A successor employer could not escape paying a $500,000 damages award for the previous owner’s Fair Labor Standards Act violations. The case, Teed et al. v. Thomas & Betts Power Solutions LLC, Nos. 12-2440, 12-3029 (7th Cir. March 26, 2013),…
Category Archives: payroll and tax
IRS Gives Tax Break on Leave Donations to Benefit Storm Victims
November 7, 2012 – 6:39 pm
Employees who want to help victims of Hurricane Sandy through leave donation may do so without being taxed on the monetary value of the vacation days, sick days and personal leave they donate, the IRS announced Nov. 6. In a…
Holiday Bonuses Result in Good Cheer — But Can Cause FLSA Overtime Problems
October 25, 2012 – 12:46 pm
As the holiday season approaches, employers and employees are beginning to anticipate holiday bonuses. Whether they come in the form of material gifts, cash awards or other benefits, employers should be careful in providing them, because sometimes bonuses must be…
Feds Freeze Per Diem Rates for FY 2013
September 7, 2012 – 2:22 pm
Reimbursement rates for lodging, meals and incidental expenses for fiscal year 2013, which begins Oct. 1, will be frozen at FY 2012 levels, the U.S. General Services Administration announced Aug. 27. GSA is the arm of the federal government that…
Flights Aboard Company Jet Could Be ‘Taxable Transportation’
July 11, 2012 – 10:14 am
Employers that own corporate jets and pay a management company to fly them were not pleased by a recent IRS memo on tax treatment of such arrangements, and two private aviation trade associations have been working with IRS on relief….
Immediate Reform Implementation Is Revenue-reporting and Tax-related (apart from SBC)
July 6, 2012 – 12:52 pm
With the Supreme Court’s June 28 ruling affirming health reform, its legal requirements on employer health plans are a green light. Plans therefore continue to face important requirements this calendar year. Fortunately, they’re the same ones employers have known about…
IRS Sets HSA, HDHP Limits for 2013
April 27, 2012 – 1:29 pm
Employers with high-deductible health plans (HDHPs) that make it possible for employees to open health savings accounts (HSAs) have plenty of lead time to prepare for 2013. The IRS on April 27 issued Revenue Procedure (Rev. Proc.) 2012-26, which contains…
IRS Proposes Regulation on Local Lodging Expenses
April 25, 2012 – 4:23 pm
Some business-related lodging expenses incurred in the vicinity of home will be deductible, if the IRS amends the rules under Code Section 162. The agency moved to do that in rules proposed on April 25. In general, the tax Code does not allow…
Attorney Offers Tips for Staying Compliant with DOL’s Wage and Hour Priorities
March 6, 2012 – 4:40 pm
As the Department of Labor’s Wage and Hour Division steps up enforcement initiatives, the need for employers to monitor their wage and hour practices is growing. Speaking at the Society for Human Resource Management’s 2012 Employment Law and Legislative Conference…
Cars, Trucks and Vans: Deduction Limits Out for 2012
March 5, 2012 – 7:07 pm
Employers will now be able to calculate the depreciation of vehicles — passenger cars, trucks and vans that they provide to employee as a fringe benefit — that they first put into service in calendar year 2012, since the IRS…