BAS Blog


 

Mileage Reimbursement Rate

The IRS released Notice 2020-05 identifying the optional standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes.

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Veterans’ Employment Challenge

The U.S. Department of Labor, Department of Defense and Department of Veterans Affairs launched a contest for companies to build a software application to match the skills of veterans with employer needs. $1M in total prizes are being offered.

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Are You Posting Required Notices?

The beginning of the year is a good time for employers to take stock of state and federal HR responsibilities. This includes making sure notices are posted appropriately, if required.

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New Overtime Rule

The U.S. Department of Labor issued a final rule updating the earnings threshold required to be exempt from receiving overtime pay. The new rule is expected to make 1.3 million workers eligible for overtime under the Fair Labor Standards Act (FLSA). 

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Form 5500 Released

The U.S. Department of Labor, Internal Revenue Service and Pension Benefit Guaranty Corporation jointly released copies of the 2019 Form 5500 forms. The forms are used to report information on retirement plans and health plans with more than 100 participants.

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Natural Disasters and Employee Pay

As we move into the colder months, employers may have questions about employment and wages during natural disasters.

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Government Benefits Finder

Benefits.gov is an online resource that helps people find federal benefits. The resource is a cross-governmental collaboration between many federal agencies. It is intended to be a single source of benefit information to help Americans understand which benefit programs they may be eligible for and how to apply. The website may be accessed by clicking here.

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CHIP Notice Updates

The Children’s Health Insurance Program Reauthorization Act (“CHIPRA”) requires employers sponsoring group health plans to provide information to employees about the availability of premium assistance subsidies for Medicaid or CHIPRA programs. Employers must provide notice each year to all employees whether they participate in the health plan or not.

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IRS Announces Inflation Adjustments for 2020

Yesterday, the Internal Revenue Service announced several tax code inflation adjustments for the 2020 tax year. Employers should note the new, upcoming limits for their welfare benefit plans.

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EEOC Component 2 Deadline Extended

The Equal Employment Opportunity Commission (EEOC) requires all employers with 100 or more employees, and federal contractors with 50 or more employees and contracts of $50,000 or more, to provide information about the makeup of their workforce. Form EEO-1 must be filed annually to identify employees by race, ethnicity and sex, in each employer location and job category (Component 1 data). Employers with 100 or more employees have an additional obligation to report pay data for their workforce (Component 2 data).

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