2020 HSA Contribution Limits On May 28, 2019, the IRS released Revenue Procedure 2019-25 to announce the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2020 HSA owners can make tax-free contributions to their accounts. In 2020, the updated HSA contribution limits are: $3,550 for individuals, a $50 increase […]

IRS issues draft of revised Form W-4 for 2020 On May 31, the IRS released a new draft of  Form W-4, Employee’s Withholding Allowance Certificate, which has been extensively revised in response to feedback from the payroll and tax community to simplify the task for taxpayers to accurately calculate their income tax withholding. The draft […]

Notice of Proposed Rulemaking: Overtime Update On March 7, 2019 the Department of Labor announced a proposed rule that would make more than a million more American workers eligible for overtime. Under currently enforced law, employees with a salary below $455 per week ($23,660 annually) must be paid overtime if they work more than 40 […]

Internships and Pay The Fair Labor Standards Act (FLSA) requires “for-profit” employers to pay employees for their work. Interns and students, however, may not be considered “employees” under the FLSA, in which case the FLSA does not require compensation for their work. How to Determine if an Intern Is an Employee The U.S. Department of […]

The U.S. Department of Labor (DOL) recently increased the civil penalty amounts that may be imposed on employers for a wide range of benefits-related violations. These increased amounts apply to civil penalties that are assessed after Jan. 23, 2019. Employers should become familiar with the new penalty amounts and review their pay practices, benefit plan […]

IRS Extends ACA Deadline The IRS released notice 2018-94 extending the annual deadline for distributing form 1095-C for the 2018 tax year. The deadline for employers to file all Forms 1095-C and 1095-B with the IRS remains February 28, 2019 or April 1, 2019, if filing electronically. Employers with 50 or more full-time employees, including […]

The FSA limit will increase in 2019 The ACA imposes a dollar limit on employees’ salary reduction contributions to health flexible spending arrangements (health FSAs) offered under cafeteria plans. This dollar limit is indexed for cost-of-living adjustments and may be increased each year. New Limit Amount In November 2018, the IRS increased the health FSA […]

New Jersey Releases Leave Notice The state of New Jersey has released the new earned sick leave notice all NJ employers must provide to employees and also post in the workplace.  In order to be in compliance with the new law, employers must do the following: Complete and fill out the form and post the […]

NY Model Sexual Harassment Policy New York State has released finalized versions of its model sexual harassment prevention training program and model sexual harassment prevention policy.  Every employer in the New York State is required to adopt a sexual harassment prevention policy. An employer that does not adopt the model policy must ensure that the […]

Governor Phil Murphy signs order to crack down on employee misclassification. NJ Governor Phil Murphy signed an executive order Thursday establishing a task force on employee misclassification to punish contractors who commit fraud by classifying their employees as independent contractors. By classifying an employee as a form 1099 independent contractor, businesses are passing the entire […]