As promised, in the January Monthly Minute, KMK Law is providing additional details of the IRS’ SECURE 2.0 implementation guidance. Noted below are some specifics of Notice 2024-2’s most salient provisions.
Auto-Enrollment: Section 101 expands automatic enrollment requirements. But which 401(k) plans are covered by the new automatic enrollment mandates?
A 401(k) plan established before Decem…
Member Publications
Every industry faces opportunities and challenges with Artificial Intelligence. The animation film sector is no exception. MVVP recently highlighted the copyright challenges in the Reanima Masterclass program (www.reanima.eu).
Three takeaways:
Adaptations – Purely AI-generated animations do not typically receive copyright protection, as they lack human-derived creative choices. However, adapta…
Earlier this month, the Department of Labor (DOL) issued a new final rule intended to be effective March 11, 2024 that will address when a worker can be properly classified as an independent contractor. The misclassification of workers has been an issue of concern for several years, especially for worker-right advocates, which led to new legislation being passed in Virginia and many other states.[…
Changes to the Business Visitor Rules
From 31 January the rules for those entering the UK as visitors for business purposes will change. Intra-company visitors will now be permitted to work directly with clients in the UK, although any client-facing activity must be incidental to the visitor's employment abroad. Overseas visitors may also work remotely while in the UK, as long as that is not the m…
The Wage and Hour Division of the U.S. Department of Labor (DOL) published its Final Independent Contractor Rule in the Federal Register on January 10, 2024, becoming effective on March 11, 2024 ("Final Rule").
The Final Rule goes back to the six factor totality of the circumstances "economic reality" test that courts applied prior to the more streamlined two factor worker classification analysi…
The Employee Retention Credit (“ERC”) was enacted by Congress to provide relief for businesses negatively impacted by the COVID-19 pandemic and provides significant financial benefits to those businesses (up to $26,000 for each qualifying employee). However, in its haste to get the funds out to businesses that needed help, Congress did not provide detailed eligibility rules nor a robust process to…
Per- and polyfluoroalkyl substances, known by the acronym PFAS and better known by the moniker “forever chemicals,” are the focus of rapidly evolving regulatory regimes at the U.S. federal and state levels, which in turn is driving class-action litigation asserting novel theories of liability against manufacturers whose products contain PFAS. Given the ubiquity of the PFAS chemical group and its u…
Introduction
Corporate fraud, among both employees and company directors, continues to be an expensive issue in Australia. Regarding occupational fraud – fraud committed by individuals against the company which employs them or of which they are director – the majority of the fraud is committed at the employee or managerial level. Fraud at the executive and director levels constitutes a smaller …
Previously, we had reported that the FMCSA had undertaken rule making with respect to certain financial obligations of brokers and freight forwarders. Link to previous article.
In November, 2023, the FMCSA issued its final rules which are available here.
THE FINAL RULES MAY BE SUMMARIZED AS FOLLOWS.
Assets Readily Available – Final rule sets out a list of the acceptable asset types a MBC-85 tr…
H-1B Cap Season is quickly approaching. Registration for this year’s lottery will open in March 2024. If you are interested in sponsoring your employee(s) in this year’s lottery, please contact SKO to have their case reviewed for eligibility.
What is THE H-1B STATUS?
H-1B is a widely used professional work visa available to noncitizens for employment in the U.S. H-1B requires employer sponsor…