Delaware Implements Another Retirement Plan for Its Residents:

On Thursday, August 18, Delaware became the latest state to sign a government-sponsored retirement plan into law. Delaware Governor Carney signed the Expanding Access for Retirement and Necessary Savings (“EARNS”) Act into law on Thursday.   The EARNS Act requires every business that has more than five employees to offer a retirement plan. Businesses that […]
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Non-Profit Clubs Must Remain Attentive to Tax Exemption Requirements:

In a letter published on August 19, the Internal Revenue Service (“IRS”) determined that a social club no longer qualified for tax exemption under Internal Revenue Code (“IRC”) § 501(a) as an organization described in IRC § 501(c)(7). IRC § 501(c)(7) states that social clubs are tax exempt if they are “organized for pleasure, recreation, […]
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Proposed Act to Benefit Low-Income Workers

The 2022 Vanguard report on “How America Saves” recently found that many young people and low-income workers are prematurely cashing out their 401(k) balances, resulting in a lack of retirement preparation. Most employees with less than $1,000 in their 401(k) are either automatically or voluntarily cashing out when they leave a job, vs. employees who […]
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Medical Plans Are Going to Cost More Because Of Inflation

With inflation on the rise this year, the cost of practically everything is increasing, and medical care is not an exception. The cost of medical plans is expected to rise 5.6 percent in 2023.   Thankfully, because most health plans typically have contracts with healthcare providers for multiple years, the full effect of inflation will […]
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Considerations Employers Must Make Before Executing a Workforce Reduction                Following an unprecedented season of economic and political instability over the past few years which encompassed presidential elections, wars, and a global pandemic, many economists and analysts are cautioning investors and businessmen seemingly daily about the impending recession. There […]
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How Should Employers Deal with Increased Substance Abuse and Addiction in the Wake of the Pandemic?     The physical and economic toll that the Covid-19 pandemic has had on so many individuals around the world has been overly obvious and abundant as millions of people have experienced financial and physical hardships over the last […]
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Weingarten Rights Could Make Their Way into the Workplace for Nonunion Employees

Weingarten Rights came into existence after the ruling in 1975 United States Supreme Court case National Labor Relations Board v. J. Weingarten, Inc. 420 U.S. 251. In this case, the Supreme Court affirmed a decision by the National Labor Relations Board (NLRB) that employees have a right to request a union representative in the case of investigatory interviews. An […]
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Do not Forget to Respond to IRS Correspondence:

In a letter released on August 5th, the Internal Revenue Service (“IRS”) denied tax-exempt status to a volleyball organization. The IRS stated the organization did not qualify for tax exemption under Internal Revenue Code (“IRC”) § 501(a) as an organization described under IRC § 501(c)(3).   Before this determination, the IRS had sent the adult […]
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The IRS Is Facing Growing Pressure to Go After Organizations’ Church Status:

In a letter from August 1, 28 lawmakers asked the Internal Revenue Service (“IRS”) to investigate the Family Research Council (“FRC”). The FRC is an organization of churches that lawmakers claim is a political advocacy group.   According to the lawmakers, the FRC does not hold religious services or have a congregation. They claim it […]
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Charities Are Expected to Suffer if the Carried Interest Provision Does Not Change

Elizabeth McGuigan from the Philanthropy Roundtable stated on July 28, 2022, that the carried interest provision of the reconciliation package before Congress is a big concern for the charitable sector. According to McGuigan, the carried interest provision will lead to income tax on certain charitable donations.   McGuigan believes some charitable donations will now be […]
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