Compliance Stuff

  The IRS has announced increased employer mandate penalties for ALEs under the ACA for 2024. Learn the new rates and help on how to stay current with your ACA requirements. It may seem like you are just getting into a groove for 2023, but with penalties for ACA noncompliance rising, employers must pay attention to and prepare for increasing penalties and parameters for 2024. The Internal Revenue Service  has revealed increased employer mandate penalties for non-compliant applicable large employers (ALEs) under the Affordable Care Act (ACA) for 2024. With these penalties for noncompliance rising, it is vital employers pay close attention to the changing parameters around ACA regulations. As the 2022 reporting season finishes up, all eyes should be on ACA requirements and regulations for 2023 and 2024. What is changing in 2024? Noncompliance penalties are increasing for 2024. Penalty A will increase from $2,880 ($240/month) in 2023 to $2,970 ($247.50/month). Penalty B will incr...

As we reach the midyear point, we’re rounding up the new workplace laws that will take effect on July 1. With so many laws about to kick in, it can be hard to keep track of it all. Here’s a guide to some of the federal, state, and local laws you’ll need to comply with starting in July. Federal Department of Labor The first phase of the new federal overtime rule will make millions of workers newly eligible for overtime pay. Starting July 1, the DOL’s salary threshold for the so-called “white-collar” exemptions from federal OT requirements will rise to $43,888 (and will jump to nearly $59k at the start of 2025). Read these Insights to catch up on: 10 steps employers can take now to prepare; how the new rule impacts highly compensated employees; and business groups suing to block the new overtime rule. Office of Federal Contract Compliance Programs Federal contractors and subcontractors have until July 1 to certify that their affirmative action plans are compliant with federal requiremen...

Several state and local minimum wage rates will soon increase, beginning on July 1, 2024. This article provides the state and major locality minimum wage increases for mid-2024 only, along with related changes in the minimum cash wage for tipped employees where applicable. The new rates are in bold text. NOTE: Jurisdictions that will not have—or have not announced—upcoming midyear increases in their minimum wage rates are not included below. This list includes the major localities with minimum wage rates that will increase in mid-2024. It is not exhaustive of all localities nationwide that have a minimum wage rate that may differ from the federal or state rate. Additionally, if a jurisdiction’s minimum cash wage for tipped workers is changing in mid-2024, it is included in the list below. MID-2024 MINIMUM WAGE INCREASES (State and Major Locality) *All the increases shown below will be effective on JULY 1, 2024, unless noted otherwise. CALIFORNIA Berkeley $18.07 to $18.67 Emeryville $18...