About Ian McNair

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So far Ian McNair has created 15 blog entries.

IRS Concludes No Statute of Limitations for ACA Penalties

The Internal Revenue Service (IRS) recently released a memo eliminating the statute of limitations for penalties imposed by an employer’s failure to offer medical coverage to full-time employees under the Affordable Care Act (ACA). This announcement gives the IRS the flexibility to assess these penalties for an undisclosed number of years. The employer mandate under [...]

March 3, 2020|

These State Minimum Wage Rates Are Set to Increase January 1, 2020

Not only will employees be ringing in the New Year on January 1, 2020, but in select states, they will also be celebrating higher wages. Twenty-one states are set to increase their minimum wage rates starting the first of the year, with Connecticut, Washington D.C., Delaware, Nevada, and Oregon increasing their rates later in the [...]

December 20, 2019|

Form W-4: What You Need to Know for 2020

Form W-4, retitled Employee's Withholding Certificate, has undergone rounds of significant revisions since updates to the tax codes were announced by the Tax Cuts and Jobs Act in 2017 and implemented last year. The final version, designed to make accurate income-tax withholding easy for employees starting in 2020, was released on December 5, 2019, by [...]

December 19, 2019|

2019 ACA Reporting Deadlines

The Affordable Care Act's (ACA) individual mandate for employees was officially repealed on January 1, 2019. However, Congress did not repeal the ACA requirements for employers. Applicable large employers (ALE) with 50 or more employees are still required to provide access to healthcare to employees and meet annual reporting requirements. To avoid year-end scrambling, employers [...]

November 25, 2019|

New Overtime Threshold Is Effective January 1

The Department of Labor (DOL) issued a final rule on September 24, 2019, updating the salary threshold for exempt employees. Now, employees making less than $35,568 a year cannot be considered exempt and must earn overtime pay beginning January 1, 2020. According to the U.S. Department of Labor, the new threshold will make 1.3 million [...]

October 8, 2019|

2020 Banking Holidays and Your Payroll

The Board of Governors of the Federal Reserve System maintains a list of federal banking holidays for the current year and the following four years. As 2020 approaches, you should take note of upcoming federal banking holidays and how they may impact your payroll processing schedule. Preparing now will help ensure your employees are paid [...]

October 4, 2019|

These States Are Banning Salary History Questions in 2019

Asking about an interviewee’s salary history, once a standard practice for many employers to eliminate certain people from their hiring pool, will no longer be allowed in various cities and states soon. In the past, employers have used this information to set compensation rates for new employees, which many have argued increases the pay disparity [...]

September 5, 2019|

Deadline for EEO-1 Report Extended to September 30, 2019

In April, a federal judge accepted a proposal from the Equal Employment Opportunity Commission (EEOC) to extend the EEO-1 Component 2 reporting deadline to September 30, 2019. The EEO-1, also known as The Employer Information Report, is an annual report required of employers who have at least 100 employees, excluding public schools, universities, state and [...]

September 3, 2019|