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4 weeks ago | 
tax.thomsonreuters.com | Mark Kelleher |Christopher Wood
Businesses continue to face serious cyber threats that target payroll and tax information. As scams become more common, it is important for companies to protect sensitive data and stay compliant with regulations to better secure their payroll processes and reduce risks.
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1 month ago | 
tax.thomsonreuters.com | Mark Kelleher |Christopher Wood
During a webinar hosted by PayrollOrg on February 26, industry experts championed the establishment of a Chief Payroll Officer (CPO) within the C-suite. Jason Lee, Workplace Futurist and Chief of Chime Enterprise, and Pete A. Tiliakos, Chief Payroll Champion at PayrollInfluences.com, argued that payroll meets the criteria of a strategically critical business function.
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1 month ago | 
tax.thomsonreuters.com | Mark Kelleher |Christopher Wood
← Blog homeThe IRS published the final and its instructions for the tax year 2024 on February 10, 2025. This form is used to claim the credit for increasing research activities. The IRS is seeking feedback on the form and instructions until June 30, 2025, to ensure that the instructions for tax year 2025 (processing year 2026) are clear and up to date.
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1 month ago | 
tax.thomsonreuters.com | Christopher Wood
During a question and answer session at President Donald Trump’s first cabinet meeting on February 26, the 47th President engaged with the press regarding a proposal to replace the EB-5 visa program for foreign investors with a $5 million “gold card” as a pathway to U.S. citizenship.
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2 months ago | 
tax.thomsonreuters.com | Christopher Wood
In her opening statement to the Senate Committee on Health, Education, Labor, and Pensions (HELP) on February 19, Secretary of Labor nominee Lori Chavez-DeRemer expressed the need for updating and modernizing federal labor laws to “reflect today’s workforce and business environment,” which she stated is in line with President Donald Trump.
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Dec 5, 2024 | 
tax.thomsonreuters.com | Christopher Wood
The U.S. Department of Labor (DOL) proposed a rule aimed at eliminating certificates that allow employers to pay workers with disabilities less than the federal minimum wage of $7.25 per hour, as stipulated under Section 14(c) of the Fair Labor Standards Act (FLSA). On December 3, the DOL also conducted an online media briefing to discuss this regulatory change. Taryn M.
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Dec 2, 2024 | 
tax.thomsonreuters.com | Christopher Wood
The U.S. Department of Labor (DOL) is currently reviewing a recent decision made by a federal court judge in Texas, which overturned the increased salary thresholds for overtime exemptions. This review is being conducted in collaboration with the U.S. Department of Justice (DOJ), according to a DOL spokesperson. In April 2024, a final rule was issued to update the Fair Labor Standards Act’s (FLSA) overtime exemptions for executive, administrative, and professional (EAP) employees.
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Nov 22, 2024 | 
tax.thomsonreuters.com | Christopher Wood
← Blog homeAnother legal challenge against the U.S. Department of Labor’s (DOL) minimum salary threshold for Fair Labor Standards Act (FSLA) overtime regulations continues in the wake of the November 15 ruling from a Texas federal court judge that vacated the DOL’s July 2024 rule, reverting the threshold back to a rule from five years ago.
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Sep 5, 2024 | 
tax.thomsonreuters.com | Christopher Wood
In a recent discussion, legal experts James A. Paretti, Jr. and Melissa McDonagh, shareholders at Littler Mendelson P.C., provided insights into the implications of the court’s rejection of the Federal Trade Commission’s (FTC) proposed nationwide ban on non-compete agreements. The FTC’s rule, which aimed to prohibit employers from using non-compete clauses, was struck down by a federal judge in late August, who cited the agency’s lack of statutory authority to implement such a sweeping measure.
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Jun 20, 2024 | 
tax.thomsonreuters.com | Christopher Wood
Payroll professionals have a crucial role in identifying, tracking, and reporting unclaimed wages to prevent liability issues. As unclaimed property compliance evolves, with trends such as shorter dormancy periods and new property types like virtual currency and payroll cards, coordination across the organization is essential. This ensures that all relevant property types, beyond just payroll, are accurately reported to minimize potential audit concerns.
