The Internal Revenue Service (IRS) has increased the amount employees may contribute to their 401(k) and 403(b) plans next year from $19,000 to $19,500. The IRS announced this week its inflation adjustments for 2020, including:
• Overall contribution limit for defined contribution plans increases from $56,000 to $57,000.
• Total compensation that may be considered
The U.S. Department of Labor’s Wage and Hour Division has announced proposed changes to the information forms used by employers in the administration of the Family and Medical Leave Act (FMLA). Qualification for FMLA leave requires disclosure of information to employers and employees about their FMLA rights and it also requires collection of information to
On December 14, 2018, a federal district court in Texas held in Texas v. United States that the Affordable Care Act’s (ACA) individual mandate is unconstitutional. The court also concluded that because the individual mandate cannot be severed from ACA, the entire law is invalid.
Background
As you may recall, the ACA has both an
Notwithstanding all the news about repeal and changes to the Affordable Care Act, we are aware that the Internal Revenue Service is enforcing current provisions and assessing penalties.
Enforcement of the 2015 Employer Mandate Penalty
The IRS has announced that it will assess employer mandate penalties for the 2015 tax year. Employers who had 100