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The Top Ten Regulatory
Issues Expected to
Impact Businesses
in 2016
2 0 1 6
#
1
WHY IT MATTERS
On December 28, 2015, the IRS extended the Affordable Care
Act (ACA) reporting deadlines for the 2015 t...
#
2
WHY IT MATTERS
The U.S. Department of Labor (DOL) released its proposed
Overtime Rule to revise the salary thresholds ...
Employee Pay
#
3
WHY IT MATTERS
READ MORE
TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016
Across the count...
Worker
Classification
#
4
WHY IT MATTERS
The very active DOL enforcement initiative with regard to worker
misclassification ...
TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016
#
5
WHY IT MATTERS
With the continued focus on safeguardin...
TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016
#
6
WHY IT MATTERS
There is a gap between the time employe...
TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016
#
7
WHY IT MATTERS
The final version of the DOL’s long-awai...
TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016
#
8
WHY IT MATTERS
“EMV” is a global standard and a better...
TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016
#
9
WHY IT MATTERS
States are limited by federal mandate t...
TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016
#
10
WHY IT MATTERS
In response to business concerns over ...
For more helpful tips to advance the
long-term success of your business, visit:
For more helpful tips to advance the
long-...
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The Top Ten Regulatory Issues Expected to Impact Businesses in 2016

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From the IRS extending select Affordable Care Act reporting deadlines to a delay of the debated Cadillac Tax, 2016 is gearing up to be another active year for government regulations impacting business.

  • Attention employers - there are many impactul new and adjusted regulations described here that you cannot afford to miss! Be sure and read #1 in particular.
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The Top Ten Regulatory Issues Expected to Impact Businesses in 2016

  1. 1. The Top Ten Regulatory Issues Expected to Impact Businesses in 2016 2 0 1 6
  2. 2. # 1 WHY IT MATTERS On December 28, 2015, the IRS extended the Affordable Care Act (ACA) reporting deadlines for the 2015 tax year to give businesses more time to meet the requirements. The deadline extension impacts certain forms mandated under the ACA, notably Forms 1094-C and 1095-C. READ MORE TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016 Affordable Care Act http://payx.me/dq
  3. 3. # 2 WHY IT MATTERS The U.S. Department of Labor (DOL) released its proposed Overtime Rule to revise the salary thresholds for federal overtime regulations for the Executive, Professional and Administrative white collar exemptions in June 2015. After receiving close to 300,000 public comments, the agency is expected to release the final rule as early as this spring. READ MORE TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016 Overtime Regulations http://payx.me/dq
  4. 4. Employee Pay # 3 WHY IT MATTERS READ MORE TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016 Across the country employers will be adjusting pay practices to accommodate minimum wage increases, equal pay laws, and paid sick time laws. http://payx.me/dq
  5. 5. Worker Classification # 4 WHY IT MATTERS The very active DOL enforcement initiative with regard to worker misclassification continues, while changes in the economy present even greater challenges for employers attempting to accurately classify workers. Employers need to examine third party relationships and monitor state and federal agency developments to assist in the efforts to appropriately classify workers. READ MORE TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016 http://payx.me/dq
  6. 6. TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016 # 5 WHY IT MATTERS With the continued focus on safeguarding sensitive data, many businesses will be obligated to comply with more demanding privacy and security laws and regulations. These include the minimum necessary levels of encryption and security controls, as well as establishing stricter notification processes and remediation steps when a data breach occurs. READ MORE http://payx.me/dq Privacy
  7. 7. TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016 # 6 WHY IT MATTERS There is a gap between the time employees receive their W-2 forms (on January 31) and the date at which employers must file these forms with states—either at the end of February or March, if filed electronically. Eleven states, along with Washington, DC and Puerto Rico, now require employers to file both Annual Reconciliations and W-2 forms by January 31 each year. READ MORE http://payx.me/dq Earlier Filing Deadlines to Combat Fraud
  8. 8. TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016 # 7 WHY IT MATTERS The final version of the DOL’s long-awaited fiduciary standard is expected to be released mid-year. This may impact the availability of plan advisors and result in more scrutiny of a business’ selection and ongoing monitoring of its retirement service providers. READ MORE http://payx.me/dq Retirement
  9. 9. TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016 # 8 WHY IT MATTERS “EMV” is a global standard and a better means of controlling credit card fraud verses the traditional magnetic stripe cards. With this change, liability for credit and debit card fraud shifts from issuing banks to merchants who have not yet installed new EMV terminals and processes. READ MORE http://payx.me/dq EMV
  10. 10. TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016 # 9 WHY IT MATTERS States are limited by federal mandate to only collect tax made on online purchases when the seller has sufficient physical presence in the state. To level the playing field between brick and mortar retailers and online merchants, many have pressed for passage of legislation which would allow states to collect tax, regardless of where the seller resides. READ MORE http://payx.me/dq Online Sales Tax
  11. 11. TOP TEN REGULATORY ISSUES EXPECTED TO IMPACT BUSINESSES IN 2016 # 10 WHY IT MATTERS In response to business concerns over burdensome workers’ compensation insurance costs and processes, some states have or are contemplating weakening related requirements. While workers’ comp programs are state-regulated, some in Congress believe Federal intercession may be needed to maintain worker protections as benefits erode. READ MORE http://payx.me/dq Workers’ Compensation and OSHA
  12. 12. For more helpful tips to advance the long-term success of your business, visit: For more helpful tips to advance the long-term success of your business, visit: www.paychex.com/articles The information contained within is not tax or legal advice. These issues are complex and applicability depends on individual circumstances. Businesses should consult tax or legal counsel before taking action on any of the items identified above. ©2016 Paychex, Inc. All rights reserved.

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