Compliance Corner

Settlements Subject to Non-Disclosure Agreements Are Not Deductible

Wednesday, January 17, 2018
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TotalSource - Core (News)
The tax bill signed into law on December 22, 2017, includes a provision aimed at stemming the use of nondisclosure agreements in settlement of sexual harassment and sexual abuse claims. The bill prohibits the deduction of settlement payments and attorney’s fees if the payment is subject to a nondisclosure agreement.

Department of Labor Announces Change in Intern Test

Tuesday, January 16, 2018
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TotalSource - Core (News)
On January 5, 2018, the United State Department of Labor announced that it would no longer adhere to the six-factor test originally adopted in 2010 to determine whether or not students can properly be considered interns under the Fair Labor Standards Act. The Department of Labor announced that it will now base determinations on the “primary beneficiary” test, which has been adopted by many federal courts.  

New Tax Reform Legislation Signed into Law

Thursday, January 4, 2018
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TotalSource - Core (News)
H.R. 1, the Tax Cuts and Jobs Act (the Act), was passed by both the House and Senate on December 20, 2017, and signed into law by President Trump on December 22, 2017.  The Act includes several significant changes that are relevant to employers for payroll, employment tax and employee benefits purposes.

Quarter Close is Coming!

Tuesday, December 5, 2017
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TotalSource - Core (News)
The quarter will be closing soon. Now is the time to review the following reminders and provide updates to your payroll services representative at least business days prior to the last day of the quarter to avoid costly amendments. Click here to view penalties and interest that may be applicable if information is not provided timely.

Minimum Wage Increases Effective January 1, 2018

Tuesday, December 5, 2017
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TotalSource - Core (News)

Several states, cities, and counties will be increasing their minimum wage rates effective January 1, 2018.  In several jurisdictions, the rate of pay depends on the size of the employer and/or work location of the employees, and you will have to update your employees’ rates as needed to ensure you remain in compliance.

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