Under IRS regulations regarding electronic consents and elections, if a signature must be witnessed by a retirement plan representative or notary public, it must be witnessed ‘in the physical presence’ of the representative or notary unless guidance has provided an alternative procedure. In Notice 2020-42,...
To cope with the COVID-19 crisis, many employers are taking employees’ temperatures and asking them general health-related questions as they report to work. A relevant question that often arises in light of this activity is: How do the requirements of the Health Insurance Portability and...
The IRS recently issued another notice extending tax deadlines because of the COVID-19 pandemic. Notice 2020-35 supplements IRS Notice 2020-23 and earlier guidance by extending the deadlines for certain additional time-sensitive actions relating to employment taxes; exempt organizations; employee benefit plans, including 401(k)s; Health Savings...
The term “work-life balance” has been around for decades. For much of that time, the struggle to attain this elusive equilibrium has typically involved having too much ‘work’ and not enough ‘life.’ Employers have been urged to, among other things, create dynamic paid-time-off policies and...
The COVID-19 pandemic has forced many people to cancel or postpone vacations as well as travel plans to visit friends and family. While staying home to stay safe — and, often, to telework — many employees may not use as much paid time off (PTO)...
The IRS recently increased the carryover limit for Health Flexible Spending Arrangements (FSAs) to an amount indexed for inflation. The agency also clarified the ability of a health plan to reimburse individual insurance policy premium expenses incurred before the beginning of the plan year for...
The IRS recently issued frequently asked questions (FAQs) regarding retirement plan distribution and loan relief under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This relief applies to qualified individuals affected by the novel coronavirus (COVID-19) pandemic. It expanded distribution options and favorable tax...
Typically, when employers undertake major changes to how and where employees do their jobs, it is only after copious planning and careful implementation. The novel coronavirus (COVID-19) pandemic eliminated this luxury in a matter of days for most organizations. That does not mean that you still...
The U.S. Department of Labor’s (DOL) Wage and Hour Division recently posted additional guidance regarding paid sick and emergency childcare leave under the Families First Coronavirus Response Act (FFCRA). Much of the guidance offers details and clarifications on the calculation of paid leave, including: How...
In response to the novel coronavirus (COVID-19) outbreak, many employers have closed all or parts of their operations — and placed all or some employees on temporary unpaid leave in the form of mandatory furloughs. If yours has done so, or is considering it, you...