FinCEN published a notice of proposed rulemaking on September 28, 2023 and the final regulations were just promulgated on November 30, 2023 that would extend the initial filing period to 90 days. The new rule, along with the CTA, becomes effective on January 1, 2024.
Unfortunately, there are always people out there looking for new ways to steal our personal information. The latest scam? Sending ominous warnings that personal information must be filed immediately with bogus or non-existent entities pursuant to the Corporate Transparency Act.
The Internal Revenue Service on November 27, 2023 published proposed regulations that would provide definitions under Section 401(k) regarding the long-term, part-time employee rules, recently enacted under the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) and SECURE Act 2.0 of 2022 (“SECURE 2.0”).
Under the Corporate Transparency Act companies are generally required to report detailed information about their beneficial owners, commencing January 1, 2024. On November 7, 2023, The United States Treasury issued amendments to its regulations with respect to reporting for tiered entities where the lower tier entities have precisely the same owners.
On Wednesday, November 1, 2023, the Internal Revenue Service (IRS) announced the 2024 annual cost-of-living adjustments to the dollar limits applicable to certain employer-sponsored retirement and welfare plans. In addition, previously, the IRS released certain other health and welfare plan limits applicable for 2024 and the Social Security Administration separately released the taxable wage base amounts for 2024.
The U.S. Department of Labor today issued a proposed rule raising the minimum salary an employee must receive to be considered exempt from overtime under the Fair Labor Standards Act.
Effective August 1, Louisiana employers with 20+ employees must provide one day off each year for medically necessary genetic testing or cancer screening. Learn more about this new employee benefit in our latest blog post.
U.S. Citizenship and Immigration Services announced a new version of Form I-9 to verify the identity and employment authorization of employees, as well as a new alternative procedure for document examination.
In a rare unanimous decision, the U.S. Supreme Court has substantially altered the standard under which employers must evaluate employee requests for religious accommodations under Title VII of the Civil Rights Act of 1964.
The National Labor Relations Board’s (“NLRB”) General Counsel Jennifer Abruzzo announced in a memo yesterday that noncompete agreements in employment contracts violate federal labor law except in limited circumstances, because they interfere with employees’ rights under Section 7 of the National Labor Relations Act (“the Act”) to engage in concerted activity to improve their wages