February 2024


 

News

DOL Adopts New Independent Contractor Test

The U.S. Department of Labor (DOL) has published a final rule that will change the test for determining whether a worker is an employee or independent contractor under the Fair Labor Standards Act (FLSA). The final rule takes effect March 11, 2024.

SECURE 2.0 Act of 2022 makes sweeping changes to retirement savings plans

Throughout this year, ADP TotalSource® has shared information about SECURE 2.0 and the new provisions coming into effect on Jan. 1, 2023. For more information, review ADP’s SECURE Act 2.0 digital hub and ADP TotalSource’s Insights and Solutions bulletin on Long-Term Part-Time (LTPT) employees.

ADP TotalSource is contacting you with an update to our Long-Term Part-Time (LTPT) employee identifier located in your payroll system.

IRS Announces 2024 Medical Mileage Rate

On Dec. 14, 2023, the Internal Revenue Service issued Notice 2024-08 announcing that the standard mileage rate, effective Jan. 1, 2024, for use of an automobile to obtain medical care is 21 cents per mile.

IRS Announces 2024 Medical Mileage Rate

On Dec. 14, 2023, the Internal Revenue Service issued Notice 2024-08 announcing that the standard mileage rate, effective Jan. 1, 2024, for use of an automobile to obtain medical care is 21 cents per mile.

IRS Announces 2024 Automobile Business Use Mileage Rates

On Dec.  14, 2023, the Internal Revenue Service issued via Notice 2024-08 the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, moving, and charitable purposes.

IRS Announces 2024 Benefit Plan Contribution Limits

On Nov.  9, 2023, the Internal Revenue Service (IRS) announced via Revenue Procedure 2023-34 the dollar limitation for 2024 on employee salary reductions for contributions to health flexible spending accounts; the monthly limitation regarding the aggregate fringe benefit exclusion amount for transportation in a commuter highway vehicle and any transit pass; 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.

California To Raise Minimum Wages for Healthcare Workers

California has enacted Senate Bill 525 (SB 525) which establishes a tiered minimum wage rate system for healthcare workers.

Illinois - Chicago To Phase Out Tipped Minimum Wage

The Chicago City Council has voted to phase out the tip credit that employers are currently allowed to use when paying tipped employees. Historically, Chicago allowed employers to pay tipped employees at a rate below the city's minimum wage, provided the tips received bring the worker’s earnings to at least the full minimum wage.

Pension Plan Limitations for 2024 Provided by IRS

On Nov. 1, 2023, the Internal Revenue Service (IRS) announced via Notice 2023-75, the cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2024.

2024 Federal Contractor Minimum Wage Increase Announced

The United States Department of Labor (DOL) has announced increases to the minimum wages that federal contractors covered under Executive Orders (EO) 13658 and 14026 must pay their employees who are performing work on or in connection with certain covered federal contracts.
12345678910 Last

Upcoming Events

Regional Alerts




 

 

© Copyright 2016 ADP LLC. 10200 Sunset Drive | Miami, FL 33173

You are receiving this email because you are a client of ADP TotalSource. The ADP logo, ADP, and ADP TotalSource® are registered trademarks of ADP, LLC. ADP - A more human resource. is a service mark of ADP, LLC.