Before there were HDHPs (High Deductible Health Plans) and HSAs (Health Savings Accounts), the only way to pay for out-of-pocket medical expenses in pre-tax dollars was through a “Cafeteria Plan” – a special tax provision of IRC Section 125 sometimes referred to as a Flexible Spending Account or FSA. If you’ve been offered an opportunity to participate, this may be your best choice.
Category: Labor | Employment
Attorneys Corey Hamilton and Theresa Nelson Join Strauss Troy Firm Expands With Additional Expertise In Business & Litigation
Strauss Troy announces that attorneys Corey Hamilton and Theresa Nelson have joined the firm.
IRS Modifies Cafeteria Plan Rules Important Changes For Employers & Employees
The IRS has issued a new Notice that may help employees who would benefit by being covered for health insurance under an exchange rather than under their employer’s group health plan. Enrollment in an exchange plan is not available to those covered under an employer plan.
Ten Strauss Troy Attorneys Named 2015 Best Lawyers By Best Lawyers®
Ten Strauss Troy attorneys have been honored as 2015 Best Lawyers by Best Lawyers®.
It’s Time To Re-Think Roth
If you thought a Roth IRA was out of the picture for you, think again.
Strauss Troy Names Joy Hall As Shareholder
Strauss Troy Attorney Joy Hall has been named a shareholder of the firm. Joy practices in the field of tax law, with an emphasis on tax controversy, tax audit and criminal tax issues. Her practice includes federal and state tax litigation, refund issues, criminal tax indictments/trials, Offers in Compromise, audits and innocent spouse filings. Joy understands how …Read More
IRS Announces Change to the“Use It or Lose It” Rule for FSAs
Amend Your Cafeteria Plan Now To Allow for a $500 Rollover The IRS has announced that Cafeteria Plans (also known as 125 Plans, FSAs and Flexible Spending Accounts) can permit up to $500 to be “rolled over” into the following year – softening the “use it or lose it” rule that had been the hallmark …Read More
When Are Unpaid Internships Legal & Right? Learn How Both Organization& Student Can Benefit
Internships are great avenues toward a career – they give you experience, training and an impressive block of text on your resume. Are these benefits really worth free labor from the student’s perspective, and is the free labor legal? Here’s what you need to know. According to the Fair Labor Standards Act (FLSA), there are six different circumstances under …Read More
Could Safer Screening & Hiring Practices Have Prevented Navy Yard Shooting?
Employers Are Ultimately Responsible For Safe Hiring When tragedy strikes, we all ask why? In the recent case of the Navy Yard shooting, many are asking, “why did the background screening of Aaron Alexis tragically fail?” “I don’t think the background check failed; I think the process failed,” Jason Morris, president of background-screening provider EmployeeScreenIQ, …Read More
Implementing An Effective Workplace Violence Program
Occupational Safety & Health Administration (OSHA) is committed to using all of its inspection and enforcement authority to compel employers to anticipate and avoid incidents of workplace violence. OSHA’s past and present inspections, citations and large fines demonstrate that it is not hesitant to use that authority. The prudent employer acts in advance. That employer protects …Read More
Important Employer Benefits Withholding Changes Take Effect September 16For Married Same Sex Couples
As of September 16, 2013, employers must treat lawfully married same sex couples as married for purposes of withholding and benefits. Individuals may amend their open tax returns (generally 2010 through 2012) to change their filing status if validly married during that year. Individuals may file for a refund of any taxes paid on “imputed …Read More
Buyers of Defunct Companies’ Assets May Face Unwelcome Surprise
If you buy a defunct company, from its bank or out of receivership or bankruptcy, make sure that you aren’t liable for any actual, or alleged, labor and employment law violations of the old company. The burden of proof is on you — even with an asset purchase and hold-harmless agreements. Federal courts can simply ignore these.
Often, labor and employment law’s “federal successor liability rules” actually trump state business laws and contracts designed to protect buyers.
Supreme Court Ruling On Spousal Rights Raises More Benefits Questions For Employers
Guidance Needed From Federal Agencies The Supreme Court’s decision in United States v. Windsor finding Section 3 of the Defense of Marriage Act (“DOMA”) unconstitutional has implications in many facets of law beyond domestic relations. That Section of DOMA defined “spouse” as “only a person of the opposite sex who is a husband or wife” …Read More
Attorney John Fischer, Contributing Editor For Two Recent Labor And Employment Publications
John Fischer, a member of the Strauss Troy Labor | Employment Law practice group, recently served as a contributing editor for the recently published Fair Labor Standards Act, Second Edition, 2012 Cumulative Supplement. John was a past contributing editor for the initial Fair Labor Standards Act, Second Edition and the 2011 Supplement. The Fair Labor …Read More
The Employer Mandate: What You Need To Know About Increased Worker Classification Scrutiny
As a business owner, you have likely followed news coverage of the Supreme Court arguments regarding the Affordable Care Act, and are interested to find out which provisions might be affected. One of the more controversial provisions of the Affordable Care Act is the Employer Mandate, which provides that business owners with at least 50 …Read More
401(K) Plan Fee Disclosure Requires Closer Look By Employers
Employers sponsoring 401(k) plans have been hearing from their investment advisors about “fee disclosures” that have to be given to plan participants who choose their own investments in the company plan. The goal of these IRS regulations, now effective July 1, 2012, after having been delayed several times, is to arm investors with information about …Read More
Business-Oriented Human Resources Audits Are Both Preventive And Proactive
The most successful companies foresee, plan for, and take advantage of business opportunities before their competition. They also identify and make sure that they are well-prepared to avoid, or manage successfully, potential future problems, including legal problems, which could sabotage their taking full advantage of current or future business opportunities. Strauss Troy’s approach to conducting …Read More
How to Ensure that Your Company Does Not Become Another Casualty to Rising Employment Litigation
As the economy continues to struggle, the number of companies implementing layoffs and reductions in force likewise continues to grow. Along with that growth comes a corresponding increase in employment-related litigation. Recently, it was reported that 45% of the respondents to a survey of corporate counsel on litigation issues and trends cited labor and employment …Read More
“COBRA” Subsidy Extended
The American Recovery and Reinvestment Act (ARRA) established a “COBRA Subsidy” to help laid off workers keep their healthcare coverage. It is important for companies and employees to be aware of a recent amendment to the ARRA that extends the COBRA Subsidy in several ways. COBRA is a federal law requiring group health plans of …Read More
When Is A Promise Not A Promise?
It is not uncommon for an employment agreement for a sales person to including language that, “Employer reserves the right to amend or terminate this agreement at any time and for any reason.” Such “reservation-of-rights” provisions are common in sales representative agreements where the representative is compensated at least in part by commission payments. Employees and their counsel typically dislike these …Read More