Once Removed Episode 16: Gift and Estate Tax, Inflation Adjustments for 2024
Press: Inflation Adjusted Numbers Show BigLaw Continuing to Struggle
On April 3, 2024, the U.S. Department of Labor (the “DOL”) published in the federal register a final amendment to Prohibited Transaction Class Exemption 84-14 (the “QPAM Exemption”) that makes considerable changes to the...more
The Department of Labor recently announced the 2024 inflation adjustments for ERISA-related penalties applicable to health and welfare and retirement plans. Applicable penalties increased for 2024 as follows...more
Wednesday, January 10, 2024: US DOL‘s WHD Published Its “Employee or Independent Contractor” Classification Final Rule - The U.S. Department of Labor’s (“DOL”) Wage and Hour Division (“WHD”) published its much anticipated...more
Effective January 1, 2024, the minimum wage for workers who perform work on or in connection with federal contracts will increase from $16.20 per hour to $17.20 per hour. This will apply to most federal contracts entered into...more
In October 2022, I circulated “An In-Depth Examination of Inflation Relief for a Government Contractor[.]” Much has occurred since. Inflation remains an acute problem. In turn, contractors and subcontractors continue...more
Inflation is generally down from 2021, but is still high in too many places, and is expected to persist in 2023. With inflation eroding value for this long, a Government contractor may need to obtain contract relief. ...more
The DE OFCCP Week in Review (WIR) is a simple, fast and direct summary of relevant happenings in the OFCCP regulatory environment, authored by experts John C. Fox, Candee Chambers and Jennifer Polcer. In today’s edition, they...more
If you weren’t already concerned about the rate of inflation, its effect has produced another blow in the OSHA world. Under the terms of the 2015 Inflation Adjustment Act, the U.S. Department of Labor has once again made the...more
The DOL’s Employee Benefits Security Administration (EBSA) recently issued its annual inflationary adjustments to penalties that apply for violations of the Employee Retirement Income Security Act of 1974, as amended (ERISA)....more
Annually in mid-January, the U.S. Department of Labor’s Mine Safety and Health Administration (MSHA) adjusts its civil penalty assessments, in accordance with the inflation adjustment provisions of the Federal Civil Penalties...more
The Department of Labor has just published its increases to the maximum civil penalties that can be assessed against employers by the U.S. Occupational Safety and Health Administration (OSHA). The increases are based on...more
With everyone trying to predict what the Occupational Safety and Health Administration will do under the Biden Administration, there is one certainty that we can let you know about. As now happens automatically every January...more
For 2020, legislation enacted in December of 2019 dramatically increases penalties imposed by the Internal Revenue Code (the Code) for late filing of certain employee benefit plan notices and reports. In addition, a final...more
Seyfarth Synopsis: The DOL has published its 2020 increases to MSHA civil penalties. The DOL has finalized the 2020 inflation adjustments, which will nudge the penalties up 1.764%. 85 Fed. Reg. 2292 (Jan. 15, 2020)....more
In 2015, Congress passed a law called the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. It appears that the word “Improvements” may have been added in an unsuccessful attempt to make the law sound...more
It’s that time of year again! OSHA and MSHA penalties were automatically adjusted this month. What will safety and health enforcement cost you in 2020? Read on. For the last few years, Department of Labor (DOL) penalties...more
The Inflation Adjustment Act requires the Department of Labor to annually adjust its civil monetary penalties to adjust for inflation no later than January 15 of each year. Today, the Federal Register published the Federal...more
2020 AG Elections -Republican John Westercamp Announces Candidacy for Indiana Attorney General -John Westercamp, a Republican, announced his candidacy for Indiana AG in 2020....more
Shared workspace giant We Work is joining the growing wave of major start-ups planning to go public this year. And like many of its unicorn peers (as we’ve documented), the company “shows no sign of turning a profit anytime...more
Last week, the Department of Labor ("DOL") announced new proposed revisions to the Overtime Rule. This is not the first time in recent years that revisions have been proposed to the so-called “white collar exemptions”...more
While much of the rest of the government is shutdown, the Department of Labor (“DOL”) is hard at work. OSHA which is an agency within DOL is one of the few agencies that is fully funded and operational. ...more
Last month, the U.S. Department of Labor announced increases in the civil penalty amounts that may be imposed on employers under several federal employment laws. On January 2, 2018, the DOL rolled out increases to the civil...more
Seyfarth Synopsis: The DOL has published its 2018 OSHA civil penalties. We had blogged previously about the U.S. Department of Labor’s (DOL) 2017 adjustments to the maximum civil penalty dollar amounts for OSHA violations....more
A BloombergBNA report suggests that the U.S. Department of Labor is seriously considering retaining the Obama Administration's procedure (or something like it) for automatic "updates" to the compensation thresholds specified...more
Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more