Tag: IRS
Retirement Plans: Automatic Enrollment Only Part of Equation for 401(k) Savings; Tips for Ensuring Quality Enrollment
Only 25 percent of the 300 mid- to large-sized employers polled in a survey by global HR-services company Hewitt Associates said they viewed a high participation rate in their 401(k) plans as the prime measure of the plans’ success. The survey indicated that more employers are placing less importance on the number of employees enrolled […]
Deductions: New IRS Rules Affect Employee- Shareholders’ Deductions for Health Insurance Premiums
FedEx May Owe Huge Tab for Diver Misclassification
FedEx Corp., which has been in the hot seat lately over allegations of misclassifying delivery drivers as independent contractors (see CWHA October 2007 and October 2006), could owe a whopping $319 million in back taxes and penalties because of the classification problems, the IRS has tentatively concluded. The IRS assessment, which pertains only to 2002, […]
Can We Change Our Normal Retirement Age?
Why is the Normal Retirement Age in defined benefit plans, like ours, usually age 65? Can we change our Normal Retirement Age? – Nancy C., Berkeley 400+ pages of state-specific, easy-read reference materials at your fingertips—fully updated! Check out the Guide to Employment Law for California Employers and get up to speed on everything […]
Employment Law Tip: Wage and Hour Tips for the New Year
Want to make sure your business has a happy wage and hour new year? Do a quick review to check that your organization is complying with California wage and hour changes for 2008.
Trust Arrangements: IRS Warns About Abusive Benefit Funds; Keep Your Eyes Open
Benefit Plans: IRS Announces Modest COLAs for Benefit Plans in 2008
Mileage Reimbursement Rate Goes Up
Expense Reimbursements: IRS Raises Mileage Rate for 2008
The Internal Revenue Service has increased the standard mileage rate commonly used to reimburse employees for business use of a car to 50.5 cents per mile, up from 48.5 cents in 2007. The new rate will apply to miles driven beginning Jan. 1, 2008. Employers who use the IRS standard mileage rate to reimburse employees […]