Federal Alerts

As previously reported, the Equal Employment Opportunity Commission (EEOC) announced its highly anticipated final requirements for revision of the EEO-1 reflecting the collection of pay data. The new pay data reporting obligation will commence on March 31, 2018.   Highlights of the final rule are set forth below.  

On October 27, 2016, the Internal Revenue Service (IRS) announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for Tax Year 2017. 

On October 25, 2016, the Internal Revenue Service (IRS) announced via Revenue Procedure 2016-55 the dollar limitation on employee salary reductions for contributions to health flexible spending accounts; the monthly limitations regarding the aggregate fringe benefit exclusion amount for transportation in a commuter highway vehicle and any transit pass and the fringe benefit exclusion amount for parking; and the maximum amount that can be excluded from an employee’s gross income for the amounts paid for qualified adoption expenses furnished pursuant to an adoption assistance program.

Social Security Administration (SSA) has announced several changes that will impact employers and employees in 2017.

The Internal Revenue Service has issued three important announcements regarding attacks on Tax Professionals, updates to e-Service accounts and fake tax bills.  

On August 2, 2016, the Internal Revenue Service (IRS) issued proposed regulations entitled “Information Reporting of Catastrophic Health Coverage and Other Issues Under Section 6055.” These proposed regulations contain important clarifications relating to, among other things, the responsibilities of Applicable Large Employers (ALEs) and/or insurance providers in soliciting Taxpayer Identification Numbers (TINs).