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Notice of OLMS Proposed Rulemaking: Form T-1 Trust Annual Report

The Office of Labor-Management Standards (OLMS) today published a Notice of Proposed Rulemaking (NPRM) to establish a Form T–1 to require annual reporting on financial information pertinent to “trusts in which a labor organization is interested”.

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Offering COBRA to a terminated employee’s domestic partner

Many employers offer coverage to employees’ domestic partners under their health care plans. If your organization does so, you need to determine what rights domestic partners have regarding COBRA insurance.

General principles

One common question for employers is whether terminated employees may elect to continue COBRA coverage for their domestic partners. The answer is yes; a terminated employee who elects to continue health plan coverage under COBRA may also elect coverage for a domestic partner who was covered under the plan immediately before the employee’s termination.

The domestic partner’s COBRA coverage depends on the employee’s coverage. In other words, the domestic partner will be covered until the employee’s COBRA coverage ends, whether due to failure to pay required premiums or because the coverage period has ended.

This is based on the general principle that COBRA coverage must ordinarily be the same coverage that the qualified beneficiary (in this case, the terminated em…

Novak Francella ranks first in number of multiemployer plans audited

At the 2018 International Foundation of Employee Benefit Plans annual conference the Department of Labor conducted a training session titled "Conversations with the DOL". Included in the presentation is the list of accounting firms that service multiemployer benefit plans and Novak Francella was listed as the firm servicing the most plans! Follow the link for the full presentation ...

Full presentation

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IRS Announces Employer Provided Parking is Now Taxable

On December 10, 2018 the IRS released an advance version of Notice 2018-99 as interim guidance for taxpayers to use in determining the amount of parking expenses for qualified transportation fringe (QTF) benefits for tax-exempt organizations to determine the amount of unrelated business income tax (UBIT) attributable to parking expenses.
IRS Tax Notice 2018-99 release


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2018 Automobile Rules bulletin

The taxable income resulting from the personal use of automobiles provided by an employer is computed by the employer using guidelines established in the Internal Revenue Service regulations and must be reported on a Form W-2, Employee Wage and Tax Statement. This information is required to enable the employees to prepare their individual tax returns. The employee is to receive a Form W-2 no later than January 31, 2019.

Please follow this link for our  2018 Automobile Rules bulletin
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DOL increases penalties for many labor law violations

Every employer knows that failing to comply with federal laws is costly, but it’s getting even more so. The Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 directs federal agencies to adjust civil penalties for inflation each year. As a result, the Department of Labor recently issued a final rule that revises civil penalties for many violations of federal labor laws for 2019. Here are some of the major areas to be aware of:

Minimum wage and overtime. The Fair Labor Standards Act (FLSA) sets minimum wage and overtime pay requirements for employees in the private sector, as well as in federal, state, and local governments. The civil penalty for repeated or willful violation of the minimum wage and overtime provisions in the FLSA has increased from $1,964 to $2,014 per violation.

Child labor. Employers can run afoul of child labor laws for a variety of reasons other than hiring an underage employee. For example, legally hired 14- or 15-year-olds might work prohib…