BAS Blog


 

EEOC Delays EEO-1 Compliance Date

The Equal Employment Opportunity Commission (EEOC) announced a delay in the date for submitting 2019 EEO-1 data due to the COVID-19 pandemic. In 2019, the reporting deadline was May 31.

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Changes Available for FSAs

Flexible Spending Account (FSA) plans are now allowed to make temporary, new plan design changes to give employees flexibility during the COVID-19 pandemic. The changes are completely optional and depend on a plan’s setup. The IRS has indicated that employers must properly adopt plan changes and communicate them to plan participants. 

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IRS Relaxes Cafeteria Plan and FSA Rules for COVID-19

The Internal Revenue Service issued guidance allowing temporary changes to cafeteria plan rules resulting from the COVID-19 pandemic. The guidance increases the ability to make mid-year election changes under a cafeteria plan; extends the claim incurred period for health care and dependent day care flexible spending account plans for certain plans; and increases the carryover amount to $550. These changes are set forth in IRS Notice 2020-29 and IRS Notice 2020-33.

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COBRA Payment and Election Timeframes Extended

Last week, the U.S. government issued a rule extending the required timeframes for electing and paying for COBRA continuation coverage due to the COVID-19 pandemic. Our summary of the rule can be accessed by clicking here

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Extension of Benefit Plan Timeframes Due to COVID-19 Outbreak

This week, the U.S. Department of Labor, Internal Revenue Service and Department of Treasury jointly issued a Final Rule extending certain timeframes for employee benefit plans, participants and beneficiaries impacted by the COVID-19 pandemic. The Final Rule extends timeframes that would otherwise apply under ERISA and the Internal Revenue Code during the nationally declared State of Emergency.

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Tax Credit for COVID-19 Related Leave

The Families First Coronavirus Response Act (FFCRA) provides refundable tax credits to businesses with fewer than 500 employees reimbursing them dollar-for-dollar for the cost of providing paid sick and family leave wages related to COVID-19.

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U.S. Department of Labor COVID-19 Guidance

The U.S. Department of Labor has been updating its guidance on the Families First Coronavirus Response Act (FFCRA). FFCRA provides employees protections under a new Emergency Paid Sick Leave Act and an Emergency Family and Medical Leave Expansion Act.

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DOL Issues FFCRA Guidance

The Families First Coronavirus Response Act (FFCRA) requires employers with fewer than 500 employees to provide their workforce with paid sick leave and paid family leave for certain reasons related to COVID-19.

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Dependent Care FSA COVID-19 Considerations for Employers

With the change to remote work and the closure of day care facilities, many employees will no longer be able to use funds in a Dependent Care FSA. A Dependent Care FSA allows an employee to set aside up to $5,000, pre-tax, to pay eligible dependent day care expenses. An expense is eligible for reimbursement if the expense is for care for a qualified individual and the expense is incurred in order for the employee (and spouse) to work or look for work.

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Health Care FSA COVID-19 Considerations for Employers

With the life-altering changes brought about by COVID-19, many employees are not able to incur services for dental, vision and other medical needs. Employees may have taken these anticipated medical expenses into account when making their Health Care Flexible Spending Account elections for the plan year.

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