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2010 Summer School Savings |
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Save 15% on in-house training July and August 2010. Click on the Discounts icon to learn more.
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Red Flag Rules Postponed to 12-31-10 |
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At the request of several members of Congress, the Federal Trade Commission
(FTC) is further delaying enforcement of the identity theft “Red Flags Rule"
from June 1, 2010 until December 31, 2010.
Here is a link to the FTC release about the extension - http://www.ftc.gov/opa/2010/05/redflags.shtm.
Basically, this law requires many businesses and organizations to implement a
written Identity Theft Prevention Program to detect the warning signs or “red
flags” of identity theft in their day-to-day operations. You can find an FAQ
about the “Red Flags Rule” on the FTC’s Website here: http://www.ftc.gov/bcp/edu/microsites/redflagsrule/faqs.shtm.
On its face the law seems simple, applying to financial institutions and
creditors. But it is critically important to read the rule closely to see how
those terms are defined and whether it applies to your business. Under the Rule,
the definition of creditor is broad, and includes businesses or organizations
that regularly provide goods or services first and allow customers to pay
later.
The definition also applies to HR in a way you would not expect it to –
financial institutions include businesses that hold transaction accounts where
customers can make payments to third parties. From an HR perspective, this
includes businesses that provide debit cards to employees to access benefits
under a health care Flexible Spending Account (FSA).
For more information, go to the FTC web site at http://www.ftc.gov/redflagsrule.
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New Poster for Federal Contractors & Subcontractors |
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Effective
June 19, 2010 federal contractors and subcontractors subject to the NLRA
(National Labor Relations Act) will be required to include verbiage in their
contracts and post notices regarding employee rights under the NLRA.
This
final rule that was published on May 20, 2010 in the Federal
Register
implements Executive Order 13496, signed by President Obama in January,
2009. Federal contractors with contracts of $100,000 or more and
subcontractors with subcontracts of at least $10,000 are affected by this
requirement.
The new poster has to be physically and electronically
displayed
(technology permitting) where notices to employees are normally posted.
The physical posting must be in a "conspicuous place" to be visible by all
employees working on a federal contract. Electronic displays must
be prominent with a link to the USDOL's (United States Department of Labor's)
Website containing the language of the notice and labeled "Important
Notice about Employee Rights to Organize and Bargain Collectively with Their
Employers."
Enforcement
of this new ruling will be by the OFCCP (The Office of Federal Contract
Compliance Programs). Contractors that violate this notification rule may
be subject to sanctions, including termination, cancellation or suspension of
the contract, and debarment. Violators may also be declared ineligible
for future contracts.
This information
informs employees of their rights of unionization and collective bargaining,
and gives them directions on how to report a labor violation. For more
information about these new requirements, go to http://www.dol.gov/olms/regs/compliance/EO13496.htm.
The required poster, available in a two page 8 1/2" x 11"
format or one page 11" x 17" format, can
be downloaded from EA's website. CLICK HERE to go to our
Federal & State Posters page of the Members DashBoard to download the poster.
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New Hire Act Tax Credit |
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Effective for new hires as of 2-3-10 to 12-31-10 it allows for two tax incentives
1. Tax exemption on the 6.2% employer portion of social security for wages paid 3-19 10 through 12-31-10.
2. Additional general business tax credit of 6.2% of wages up to $1000 for each new hire retained for 52 weeks.
Click here for more information ond forms from the IRS
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