The IRS has updated its Top Mistakes in Voluntary Correction Program (VCP) Submissions webpage to ensure submissions by plans sponsors or their representatives are free of errors that could result in a delay of the IRS’ review of the submission as well as a holdup in issuing the compliance statement. The updated list includes new items concerning the electronic submission of VCP applications via Pay.gov, which Read More
DOL Delays Portions of 2020 Tip Rule Until 12/31/21
Recently, the DOL announced that it would delay until December 31, 2021, the effective date of certain provisions of the 2020 Tip Regulations Final Rule under the FLSA, including provisions addressing civil money penalties (CMPs) and the “80/20” rule under the FLSA’s “dual jobs” provisions. The provisions of the Tip Final Rule that have been delayed until December 31, 2021, include: Incorporation of the Read More
IRS Offers Tax Treatment Guidance for 2020-2021 Dependent Care FSA Carryovers
On May 10, 2021, the IRS released an advance version of Notice 2021-26 to provide clarification regarding the taxability of benefits received in 2021 and 2022 under a dependent care assistance program (DCAP) that allows for carryovers or extended grace periods. Background Passage of the Consolidated Appropriations Act, 2021, in December 2020, permitted DCAPs to carry over unused benefits from plan years ending in Read More
OSHA Finally Issues Emergency Temporary Standards for Healthcare and Other Industries
On June 10, 2021, OSHA issued an emergency temporary standard to protect workers in healthcare settings from COVID-19. In addition, OSHA issued general COVID-19 guidance for other industries that focuses on protecting unvaccinated workers and encouraging vaccination. COVID-19 ETS for Healthcare Workers According to the OSHA COVID-19 ETS Fact Sheet, the ETS is aimed at protecting workers facing the highest COVID-19 Read More
SECURE Act 2.0: Congress Piggybacks on SECURE Act, Proposing Additional Incentives to Facilitate Retirement Plan Savings
By Anne Tyler Hall, Eric Schillinger, and Allison Richter* Hall Benefits Law Atlanta, GA *Anne Tyler Hall is the founding attorney of Hall Benefits Law, and her team counsels clients on fiduciary matters, healthcare reform, executive compensation, health and welfare benefits, and retirement plan legal issues. Eric Schillinger is Lead ERISA Counsel at HBL and concentrates his practice in the areas of Read More
Third Time Not the Charm: Pay Equity Bill Blocked in Senate
On June 8, 2021, a procedural vote to consider the Paycheck Fairness Act in the U.S. Senate failed by a vote of 49-50, falling short of the 60 votes needed to advance the gender wage gap legislation. The pay equity bill was first introduced in 2009 and again in 2011; it passed the House both times but the Senate failed twice - and now, three times - to bring it to a vote. According to the U.S. Bureau of Labor Read More
HHS Proffers Final Rules on 2022 Benefit and Payment Parameters
The Department of Health and Human Services (HHS) has released its Notice of Benefit and Payment Parameters for 2022 Final Rule Part Two, which becomes effective on July 6, 2021. The final rule is largely targeted to insurers and Exchange regulators; however, employers and health plan advisors should take note of several provisions that could potentially impact their health plans, including the following: Annual Read More
June 2021 Newsletter | Wishing All Our Clients, Friends, and Families a Happy Fourth of July!
Click here to read our June newsletter! Read More
CDC Releases Updated Guidance for Fully Vaccinated People
On April 27, 2021, the Centers for Disease Control and Prevention (CDC) issued guidance on Interim Public Health Recommendations for Fully Vaccinated People. Per the CDC, people are considered to be fully vaccinated two weeks following their second dose in a 2-dose series vaccine (Pfizer, Moderna) or two weeks following a single dose vaccine (J&J). People who are fully vaccinated can: Resume the same Read More
Biden’s American Families Plan Includes Paid Family Leave Component
Prior to his first address to Congress on April 28, 2021, President Biden introduced the American Families Plan, a $1.8 trillion plan that includes a provision for national paid family and medical leave. President Biden addressed the paid leave component of the plan during his speech, saying that “No one should have to choose between a job and a paycheck or taking care of themselves or their loved ones, or their Read More
