Federal Alerts

We are reaching out to let you know that the Consumer Financial Protection Bureau (CFPB) has published an updated version of “A Summary of Your Rights Under the Fair Credit Reporting Act," a notice required to be provided by employers during the background screening process.

The effective date of the new version of the summary notice is April 19, 2023, but the CFPB is allowing employers until March 20, 2024, to start using the new version.

The National Labor Relations Board (NLRB) has ruled that employers are barred from drafting severance agreements that contain overly broad non-disparagement and confidentiality prohibitions. After the ruling, the NLRB’s general counsel released guidance indicating the decision also applies retroactively to agreements already entered with such provisions. 

The United States Supreme Court has ruled in Helix Energy Solutions Group v. Hewitt that an employee who made in excess of $200,000 annually was eligible for overtime pay due to the fact that the employee was paid on a daily basis.  

The Internal Revenue Service (IRS) published Publication 503 for use in preparing 2022 tax returns, which describes the tests a taxpayer must meet in order to claim the credit for child and dependent care expenses and explains how to calculate and claim the credit.

The Internal Revenue Service (IRS) has released the latest version of Publication 502, which describes what medical expenses are deductible by taxpayers on their 2022 federal income tax returns. This publication provides guidance on what qualifies as a medical expense under Code § 213(d) and helps identify the expenses that may be reimbursed or paid by health flexible spending accounts (health FSAs), health savings accounts (HSAs), or health reimbursement arrangements (HRAs), or covered on a tax-favored basis under other group health plans (e.g., an employer-sponsored medical plan).  

The Internal Revenue Service (IRS) has released the 2023 version of Publication 15-B (Employer's Tax Guide to Fringe Benefits), which contains information for employers on the employment tax treatment of various fringe benefits, including accident and health coverage, adoption assistance, company cars and other employer-provided vehicles, dependent care assistance, educational assistance, employee discount programs, group term life insurance, moving expense reimbursements, health savings accounts (HSAs), and transportation (commuting) benefits. (Publication 15-B uses the term "employment taxes" to refer to federal income tax withholding as well as Social Security and Medicare (FICA) and federal unemployment (FUTA) taxes.) Publication 15-B is a supplement to Publication 15 (circular E) and IRS Publication 15-A (Employer's Supplemental Tax Guide).