Asserting that many employers have improperly claimed Employee Retention Tax Credit (ERTC) refunds, the Internal Revenue Service (IRS) released two new announcements that address ERTC claims. Following these new IRS announcements, most employers should consult their legal and tax advisors and consider filing protective refund claims to preserve their employment and income tax positions and to defend against potential IRS penalties and interest.
The recent decision in Ponticelli Limited v Gallagher provides a salient reminder that the right to participate in a share incentive plan can transfer to a new employer under the Transfer of Undertakings (Protection of Employment) Regulations. The right applies even if the employee’s right to participate in the plan arose outside of the contract of employment. The employee will be treated as a leaver under their old employer/transferor’s scheme, and the transferee employer must then provide a scheme of substantial equivalence for the employee to participate in post-transfer.
While this is a Scottish case, the decision is binding on the employment tribunals throughout the UK.
Market volatility and other business disruptions can force employers to make difficult personnel decisions around reductions in force (RIFs). These may include reducing employee headcount, eliminating entire departments, hiring independent consultants or implementing hiring freezes to ease potential financial burden.
During this webinar in our series exploring best practices for workforce management in volatile markets, Pankit Doshi, Lisa Loesel and Saniya Ahmed offered strategies to follow when making restructuring decisions.
Illinois recently amended its Equal Pay Act to require employers with 15 or more workers to include pay and benefits information for each covered job posting. There is, however, a delayed start date: This amendment will take effect on January 1, 2025.
The Biden administration may eliminate a US Department of Labor rule that would have modified how the US government sets prevailing wages for H-1B professionals and employment-based green card applicants, according to this Forbes article. The Trump administration originally sought to use the wage rule to make it more challenging for foreign-born scientists and engineers to seek employment.
Governments and employers throughout the world are paying more attention to environmental, social and corporate governance (ESG) issues. That’s according to the International Bar Association Global Employment Institute’s (IBA GEI) Eleventh Annual Global Report.
The report is based on data from lawyers in 55 countries and covers a range of topics, including artificial intelligence, mental health, cybersecurity, immigration and compensation. McDermott Partner and IBA GEI co-chair Todd A. Solomon served as an editor, and McDermott Partner Abigail M. Kagan contributed to the report.
The New York State Legislature recently passed a bill that will prohibit employers from entering covenants not to compete with their employees and contractors. The bill specifically exempts nondisclosure and client nonsolicitation agreements, but it is silent on employee nonsolicitation agreements and sale of business restrictions.
Effective July 1, 2023, Minnesota will no longer allow covenants not to compete, with limited exceptions for the sale or dissolution of a business. The law is not retroactive, nor does it apply to nondisclosure agreements or client/customer nonsolicitation restrictions.
As summer approaches and the clocks are set forward, April marks an increase in the National Minimum Wage, compensation for unfair dismissal and other payments required by UK employment laws.
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