Employment Regulations to be Aware of in 2024

As we approach the new year, it’s crucial to stay informed about the latest developments in employment regulations (and they are plentiful) that may impact your business. Here’s a nice concise overview of key compliance updates you should be aware for the start of 2024:

  1.  DOL Fines Surge to a Decade High:
    • The US Department of Labor (DOL) assessed a record-breaking $26 million in fines against employers in 2023, marking the highest in a decade. Despite a lower number of cases, civil penalties reached a 10-year high at $25.8 million.
  1. Alabama’s New OT Compensation Law:
    • Starting January 1, 2024, a new Alabama law exempts full-time hourly employees’ overtime compensation from state income tax. Employers must submit overtime pay information to the AL Department of Revenue, with reporting deadlines varying by tax year.
  1. Chicago’s Paid Leave Ordinance Delayed:
    • The implementation of Chicago’s Paid Leave and Paid Sick and Safe Leave Ordinance has been postponed to July 1, 2024. Until then, employers in the city must adhere to the existing Paid Sick Leave Ordinance.
  1. Corporate Transparency Act Takes Effect:
    • Effective January 1, 2024, the Corporate Transparency Act mandates newly-created domestic and foreign entities to submit beneficial ownership information to the U.S. Treasury. Existing entities have until January 1, 2025, to file their initial reports.
  1. NLRB’s Joint Employer Rule Challenged:
    • The NLRB is actively challenging a lawsuit against its final joint employer rule, asserting that direct and immediate control over employees’ terms and conditions of employment is not the sole criterion for determining joint employer status.
  1. EEOC Simplifies Charge Filing:
    • The EEOC now allows attorneys to electronically file charges on behalf of claimants through the EEOC Public Portal, streamlining the submission process and accommodating approximately one-third of all charges submitted by attorneys.
  1. IRS Standard Mileage Rates for 2024:
    • Effective January 1, 2024, the IRS standard mileage rates are set at 67 cents per mile for business use, 21 cents per mile for medical or moving purposes (for qualified active-duty members of the Armed Forces), and 14 cents per mile for charitable service.

Teresa and I wish you a prosperous and compliant 2024!

Best regards,

David Lawrence

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