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Payroll Today

Payroll news from the non-tax world

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Alice Gilman

by on
in Payroll Today

Tired of thinking about 2018 tax refunds? We are, at least for the moment. So let’s switch gears. Some steps taken by the Department of Labor and a federal trial court, which rebuked the Office of Management and Budget, may impact on your payroll operations.

Proposed salary level regs

Proposed regulations, which are slated to become effective next Jan. 1, would increase the guaranteed weekly salary employees must earn to retain their exempt status under the Fair Labor Standards Act to $679 a week ($35,308 a year), from the current $455 ($23,660 a year). While this is a 50% increase from the current level, it’s still way below $913 a week ($47,476 annually), which the Obama administration wanted in 2016 regulations. Those 2016 regulations never became effective.

No changes were made to the overtime duties tests.

The annual salary for highly compensated employees would increase to $147,414, from $100,000, $679 of which...(register to read more)

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