In a short six-week span the deadline for employees covered by the federal contractor vaccine mandate to become fully vaccinated against COVID-19 has morphed three times—from December 8 to January 4 to January 18. The new deadline aligns the deadline for the federal contractor mandate with that of the (currently-stayed) OSHA vaccine-or-testing mandate that was […]
The IRS recently released inflation-adjusted limitations that apply to various employee benefits in 2022. Social Security Taxable Wage Base for 2022 The Social Security Administration recently announced that the maximum amount of earnings subject to Social Security tax will increase from $142,800 in 2021 to $147,000 in 2022. Retirement Plan Dollar Limitations for 2022 The […]
Thursday, November 4, the Biden Administration announced the details of a new COVID-19 vaccination policy, which will be published in the Federal Register, and take effect, tomorrow Friday, November 5, 2021. The Department of Labor’s Occupational Safety and Health Administration (OSHA) issued the details of the COVID-19 Vaccination and Testing Emergency Temporary Standard (ETS), a […]
On October 25, 2021, the White House issued a new Presidential Proclamation requiring non-citizen, temporary travelers who seek to enter the United States via air travel—for work or leisure—to provide proof of vaccination status. Additionally, unvaccinated U.S. citizens and other permanent immigrants will now be required to provide proof of a negative COVID test within […]
On October 6, 2021, the IRS issued Notice 2021-58, which provides guidance, including ten helpful examples, on the duration of certain COBRA deadlines due to the COVID-19 pandemic. Specifically, Notice 2021-58 addresses: (1) the extension of deadlines for COBRA elections and premium payments, and (2) the interaction of the extended deadlines with the COBRA subsidy […]
Yesterday, OSHA sent the Employer Vaccine Rule to the White House (Office of Information and Regulatory Affairs (“OIRA”)) for review. As explained in our September 10 client alert and our September 13 webinar, the rule is an emergency temporary standard requiring private employers with more than 100 employees to implement vaccine mandates or testing. Sending […]
Congress has been active this year in its efforts with tax reform. This past spring, several key bills were proposed that impact the estate planning arena. Two bills in particular—the Sensible Taxation and Equity Promotion (STEP) Act and the For the 99.5% Act—seek to, among other things, significantly reduce federal transfer tax exemptions, increase transfer […]
On September 9, 2021, President Biden issued Executive Order 14042: Ensuring Adequate COVID Safety Protocols for Federal Contractors (“Order”). As anticipated, last Friday the Safer Federal Workforce Task Force issued Guidance implementing the Order. The 14-page Guidance includes definitions, description of the specific requirements contractors must undertake, and a list of FAQs. Vaccination / Masking Requirement The Guidance […]
On September 10, 2021, the IRS reminded taxpayers that amounts paid for COVID-19 home test kits are eligible to be paid or reimbursed under health flexible spending arrangements (“Health FSAs”), health savings accounts (“HSAs”), health reimbursement arrangements (“HRAs”), and Archer medical savings accounts (“Archer MSAs”). This is because the purchase of COVID-19 home test kits […]
Yesterday the White House announced several new significant initiatives to address the COVID-19 pandemic. Most notably, the Biden administration directed the Department of Labor to develop an emergency rule that will require all employers with 100 or more workers to ensure that their workforce is either fully vaccinated or undergoes weekly testing, and that employers […]
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