Finance News & Insights

No joke: If you violate FLSA, feds could stop your product shipments

CFOs are well aware of the common DOL actions for wage-and-hour violations: costly fines, penalties and extra work in the form of policy revisions, added training and compliance checks. But finance chiefs may be surprised to find some of the other tactics the feds can employ. [Read more…]

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IRS claims it will finally collect ‘mass’ ACA penalties: Should Finance believe it?

Despite lots of warnings, IRS has yet to impose any non-compliance penalties on employers during the two years the ACA reporting provisions have been mandatory. Now, the agency assures businesses it’s ready to start issuing penalties. So should you believe the feds? [Read more…]

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Beware: Feds just upped the stakes on penalties for health plan violations

The DOL just increased the amounts employers will have to pay for everything from general penalties to specific health and welfare plan errors.   [Read more…]

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4 proven strategies to avoid the new 1099 penalties

With every second that passes, the year-end deadlines creep closer.   [Read more…]

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IRS puts some new teeth in 2017’s 1099 penalties

If “Rev. Proc. 2016-55” doesn’t mean much to you at first, just wait a moment. It’s likely to jump a number of slots on your “must watch” list.    [Read more…]

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4 hidden ACA penalty triggers that could really hurt your bottom line

Here’s a compelling reason to review your ACA compliance efforts ASAP: If your firm slips up on any of the details, it could cost you big-time.   [Read more…]

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Heads up: IRS Obamacare penalty letters are on their way

On the heels of the HHS’ notice letters to employers about ACA premium subsidies their employees may have received, the IRS has begun issuing its own ACA compliance letters. The biggest difference: The IRS notices come with penalties attached.   [Read more…]

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Heads up: DOL ups the ante on violations of workplace laws like FLSA

This year, employers may be surprised to find the penalty for failing to file a Form 5500 jumped all the way to $2,063 per day (up from $1,100). But that’s just the tip of the iceberg.   [Read more…]

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IRS has some good news for late ACA filers

The IRS just provided some welcome news to employers and insurers still trying to comply with the ACA’s reporting requirements.    [Read more…]

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Fed filing penalties up 150%: 4 ways to stay safe

Heads up, Finance: Lawmakers snuck a reporting change into a recent trade bill, and it holds some harsh year-end news for your department.   [Read more…]

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