Update from Domingo Castillo @ U.S Department of Labor Wage & Hour Division
I want to share the following updates under the FLSA. The New Overtime Rule went into effect on January 1, 2020, additional information can be found here https://www.dol.gov/agencies/whd/overtime/2019/index. The Regular Rate Final Rule went into effect on January 15, 2020. To gain guidance in determining the regular rate click here https://www.dol.gov/agencies/whd/overtime/2019-regular-rate. And
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DOL updates important Fact Sheets
The DOL has released helpful information, through Fact Sheets & Presentations, on the regular rate of pay, bonuses, overtime and the white collar exemption. Please see the attached documents for details. FS#56a- Regular Rate FS#56c-Bonuses 2019Overtime 541 White Collar Exemptions
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IRS Issues 2020 Version of IRS Publication 15-B (Employer’s Tax Guide to Fringe Benefits)
The IRS has issued the 2020 version of Publication 15-B (Employer’s Tax Guide to Fringe Benefits). The “What’s New” section of the publication includes information on the 2020 business mileage rate under the “cents-per-mile rule” (see Business Mileage Rate Decreasing in 2020, 1/02/2020), the monthly exclusion for qualified parking and commuter transportation benefits (see Payroll Guide ¶
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Additional Information on What Fringe Benefits May Be Excluded from Regular Rate of Pay Computation
In Dec. 16, 2019, the Department of Labor (DOL) published a final rule on fringe benefits that must be included in the regular rate of pay computation for overtime purposes . The DOL has also issued a fact sheet and FAQs to support the final rules. Here is some more detailed information on several fringe benefits that
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Business Mileage Rate Decreasing in 2020
Effective Jan. 1, 2020, the standard mileage rates for the use of a car (including vans, pickups, and panel trucks) are: 57.5¢ per mile for business miles driven (58¢ per mile in 2019); 17¢ per mile for medical or moving purposes (20¢ per mile in 2019); and 14¢ per mile for service to a charitable
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