Tooher-Ferraris Insurance Group’s Post

TIS Legal Alert: New ACA-Related Laws Provide More Flexibility to Employers Below, you will find a link to our legal alert regarding two new laws signed by President Biden earlier last week, H.R. 3797 (the “Paperwork Reduction Act”) and H.R. 3801 (the “Employer Reporting Improvement Act”), which will positively impact applicable large employers (“ALEs”) and other entities required to furnish forms 1095-B or 1095-C to individuals. Read the full legal alert: https://lnkd.in/gbn4Ef6m This alert is of interest to all employers who are required to furnish forms 1095-B or 1095-C to individuals because either they are an ALE or they are a non-ALE who sponsors a self-funded plan.

Misclassifying workers as independent contractors instead of employees can lead to significant financial and legal issues for your business. For example, if you control their tasks, hours, or location, they may need to be classified as W-2 employees, regardless of any prior agreement. Misclassification can result in fines, back pay, unpaid taxes, and penalties that could heavily impact your business. It’s crucial to understand the rules to avoid these risks. Join us in our upcoming webinar where we’ll discuss worker classification in detail. Comment 'Webinar' for the link! #BusinessCompliance #EmployeeClassification #SimplyLegal #LegalRisk #SmallBusinessHelp #Webinar #LinkedInLearning Disclaimer: The content shared on this account is for educational purposes only and does not constitute specific legal, business, or tax advice. Please consult a professional for guidance tailored to your individual circumstances.

Misclassifying workers as independent contractors instead of employees can lead to significant financial and legal issues for your business. For example, if you control their tasks, hours, or location, they may need to be classified as W-2 employees, regardless of any prior agreement. Misclassification can result in fines, back pay, unpaid taxes, and penalties that could heavily impact your business. It’s crucial to understand the rules to avoid these risks. Join us in our upcoming webinar where we’ll discuss worker classification in detail. Comment 'Webinar' for the link! #BusinessCompliance #EmployeeClassification #SimplyLegal #LegalRisk #SmallBusinessHelp #Webinar #LinkedInLearning Disclaimer: The content shared on this account is for educational purposes only and does not constitute specific legal, business, or tax advice. Please consult a professional for guidance tailored to your individual circumstances.

On August 20, 2024, a Texas federal judge issued a nationwide injunction blocking a controversial Federal Trade Commission (FTC) rule that would have invalidated millions of non-compete agreements. This decision is a significant win for employers concerned about protecting their investments in talent and proprietary information. The FTC's regulation, initially set to take effect on September 4, 2024, aimed to ban most non-compete agreements, arguing they stifled employee mobility and were inherently anti-competitive. However, this broad approach faced immediate legal challenges. The Texas court found that the FTC exceeded its authority, labeling the rule as both "arbitrary and capricious." The court noted that the rule imposed a one-size-fits-all ban without considering less disruptive alternatives or the benefits of non-competes in certain situations. With this ruling, businesses can continue to use non-compete agreements, but it’s crucial to remain vigilant. The FTC is likely to appeal, and the legal landscape surrounding these agreements may continue to shift. Employers should review their non-compete agreements to ensure compliance with state laws and be prepared for further developments. This decision highlights the importance of staying informed on regulatory changes that impact workforce management and competitive practices. As scrutiny on non-competes intensifies, consulting with legal counsel is advisable to navigate this evolving area effectively. #NonCompeteAgreements #CommercialLitigation

COMPLIANCE ALERT: INFORM: Paperwork Burden Reduction Act- H.R. 3797 On December 23, 2024, President Biden signed the Paperwork Burden Reduction Act- H.R. 3697, https://lnkd.in/gWMKAtEm This Act is effective as of 12/31/2024 and affects the 2024 1095-B&C form distribution requirements to provide these statements to employees by March 3, 2024. The recent Paperwork Burden Reduction Act (HR 3797) expands existing IRS rules that excuse employers from having to provide paper copies of Forms 1095-B or 1095-C to all employees provided your employer website contains a “clear and conspicuous notice” that employees may receive paper copies upon request. The ICHRA Shop suggest employers: First- Notify all employees that you will no longer provide the 1095 forms to them unless they request a copy in writing. Suggested wording of both the email and posting to your company Intranet is below: Even if you email you still must post a message on your company intranet. Below is suggested wording: On December 23, 2024, President Biden signed the Paperwork Burden Reduction Act- H.R. 3697. This Act reduces the requirement to automatically provide paper copies of form 1095-C (attached sample of form) to employees. As an employee you may request in writing a copy of this form. For 2024, the date for distribution of this form is by March 3, 2025. If you wish to receive a copy of this form you may request it after March 3, 2025, and the form will be provided to you. To request a copy please contact: HR please provide contact information here

Misclassifying an employee, whether intentionally or unintentionally, can have significant legal and financial consequences for employers. The classification of employees as either "employees" or "independent contractors" is a critical distinction under labor and tax laws, and getting it wrong can lead to various issues. Impact can include serious legal, financial, and reputational consequences for employers. Some of these include fines, penalties, and legal action from government agencies if they misclassify employees. The severity of these penalties varies by jurisdiction and the nature of the violation. #EmployeeClassificaton #RetainHR

Every year there is a number of legislative updates that impact the way California employers run their business. Here are some of the highlights of this years updates. #compliance #legislativeupdates #Californiabusiness

New laws provide employers with greater flexibility in their reporting obligations. On Monday, December 23, 2024, President Biden signed into law two bills, H.R. 3797 (the “Paperwork Reduction Act”) and H.R. 3801 (the “Employer Reporting Improvement Act”), which will positively impact applicable large employers (“ALEs”) and other entities required to furnish forms 1095-B or 1095-C to individuals. Full article: https://ow.ly/JHFp50UEssW #ACA #EmployeeBenefits

Video: Colorado passed the first pay transparency law in the country in 2019. Since then, 10 other states have passed similar legislation. A dozen other states have considered transparency legislation since the start of 2023. Read the full story here: https://lnkd.in/gU_MYnF2

🚨 Don’t Gamble with Your Business’s Future!🚨 DIY contracts or generic templates might seem like a quick fix, but they often miss the critical details that protect your business. One of the most overlooked yet essential factors? Correctly classifying workers in your contracts and agreements. Here’s why this matters: • 📋 Tailored Solutions: Generic templates don’t account for your unique business setup or state-specific laws. • ⚖️ Worker Classification: Misclassifying employees as independent contractors can result in fines, back wages, and tax penalties. Clear, properly drafted agreements help establish the right worker relationship from the start. • 💼 Legal Compliance: Protect yourself from costly disputes and regulatory scrutiny by addressing classification and other key terms in your contracts. • ✅ Peace of Mind: A solid agreement ensures your business is compliant and protected. Don’t leave your business exposed. Let us help you draft custom agreements that address your needs, including proper worker classification. Contact us today! #LegalProtection #WorkerClassification #RiskManagement #BusinessGrowth #SimplyLegal Disclaimer: The content shared on this account is for educational purposes only and does not constitute specific legal, business, or tax advice. Please consult a professional for guidance tailored to your individual circumstances.