Harless Tax Blog
The DOL is Cracking Down!
Businesses beware! The Department of Labor is cracking down...here are some important items to consider.
From Paycor. Read Original Article >
Employers Across the Country Are Paying the Price for Wage and Hour Violations: Are You Next?
The next big compliance update facing organizations in 2016 is the release of the Department of Labor’s (DOL) revised regulations for the Fair Labor Standards Act’s “white collar” overtime exemptions. Though a final ruling is yet to be announced, businesses that employ workers with salaries under $50,440 should consider the best course of action to comply with the new regulations.
According to Paycor data, more than 65% of businesses could be impacted by new overtime rules. Others estimate that as many as 5 million more workers will be eligible for overtime protection. As a result, many HR departments across the country are evaluating their employees to determine their correct classification.
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