The One Big Beautiful Bill Act (OBBBA), which was signed into law on July 4, 2025, establishes the pilot program for the “Trump account,” an investment account for U.S. citizens under age 18 with a social security number....more
7/23/2025
/ Employee Benefits ,
Employee Contributions ,
Employer Responsibilities ,
Financial Institutions ,
Income Taxes ,
Investment ,
IRS ,
New Legislation ,
One Big Beautiful Bill Act ,
Retirement Plan ,
Tax Planning
The IRS’s recently released Revenue Ruling 2025-4 provides significant guidance on the employment tax treatment of contributions to and benefits paid under state paid family and medical leave (PFML) programs. This has been an...more
1/23/2025
/ Compliance ,
Corporate Taxes ,
Employee Benefits ,
Employment Tax ,
Family Medical Leave ,
Income Taxes ,
IRS ,
Paid Leave ,
Reporting Requirements ,
State Labor Laws ,
Tax Liability
The wildfires ravaging various parts of Los Angeles County are truly tragic and expected to cost more than $50 billion in damages, making it the most expensive natural disaster ever in the United States. For employers with...more
While we may reset our clocks in March and November each year, every January 1 we reset our tax clocks. Here is a short list of what is changing:
Social Security Wage Base Limit: $176,100...more
A new General Labor Law (NGLL) was enacted by Law No. 12/23, of 27 December 2023, which came into force on March 26, 2024.The NGLL repealed the former General Labor Law (approved by Law No. 7/15, of June 15, 2015),...more
The IRS has issued a new fact sheet (FS-2024-22) to address frequently asked questions about educational assistance programs (EAPs), also known as Section 127 plans....more
On November 10, 2021, the IRS released Revenue Procedure 2021-45, which contains its annual inflation adjustments for over 60 tax provisions, including not only individual income tax rates and deductions, but also many...more
11/10/2021
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Employee Benefits ,
Fringe Benefits ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Tax Deductions
Dear Littler: You alerted us to some wage & hour and leaves & benefits issues stemming from our “wandering workers” who have scattered across the country during the pandemic, yet continue to work for our Texas-based company....more
Executive Summary -
The COVID-19 pandemic required nearly every employer around the globe to take stock of its workforce, policies and practices, and adapt to a rapidly changing and unpredictable environment. COVID-19...more
On September 24, 2018, the IRS issued updated guidance in Notice 2018-71 (the Notice) on Internal Revenue Code section 45S, the business tax credit for employers that provide paid family and medical leave (the Credit). ...more