An estimated one-million-plus salaried American workers who are currently exempt from mandatory overtime pay will no longer be exempt under new regulations issued on September 24, 2019 by the U.S. Department of Labor. The new rule, effective January 1, 2020, changes the minimum annual salary threshold that certain employees must earn to be exempt from mandatory overtime pay under the federal Fair Labor Standards Act (FLSA). The change represents the first update to the overtime pay rules in more than 15 years.
The Trump Administration is back on track with limiting tax-exempt organizations’ disclosure of major donor information, through Form 990’s Schedule B. On September 6, 2019, the U.S. Treasury Department issued a notice in response to the recent judicial invalidation of IRS Revenue Procedure 2018-38, thereby commencing a “notice and comment” period for reinstating such requirements through new government regulations. Once that time period ends, the new donor disclosure restrictions will take effect.