The IRS just released the 2018 Cost-of-Living Adjustments (COLAs) for a variety of tax-related limits. The changes, as outlined in Revenue Procedure 2017-58, featured several notable adjustments employers should be aware of:
Employees will be able to contribute up to $2,650 to a health flexible spending account (FSA), a $50 increase from 2 ... Read More
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The IRS has announced new guidance regarding the Employer Shared Responsibility Payments (the "ESRPs"), which are the ACA penalties assessable to “Applicable Large Employers” for failing to provide affordable health care coverage to eligible full-time employees.
Although the IRS began collecting information from employers (via the Form 1 ... Read More
On July 25, 2017, the Department of Labor (DOL) released All Agency Memorandum #25 (AAM), which serves as the DOL's annual announcement of the adjustment of the Health & Welfare (H&W) fringe benefit rate for employees working under contracts governed by the Service Contract Act (SCA).
The routine aspect of the AAM provides that effective as o ... Read More
As we previously reported last week, the Department of Labor announced an increase in the prevailing health and welfare fringe benefits rate under the Service Contract Act. The increase, $4.41 per hour from $4.27, is effective August 1, 2017.
A significant item of note in this year's All Agency Memorandum 225 (AAM 225) is the introduction of a ... Read More
The U.S. Department of Labor has released its annual memorandum regarding the rate for Service Contract Act (SCA) Health and Welfare Fringe Benefits. The new rate of $4.41 per hour (up from the 2015-2016 rate of $4.27 per hour) is required in all government contract bids or other service contracts awarded on or after August 1, 2017.
As pr ... Read More