Changes to Overtime Rule and W-4 for 2020. Are You Prepared?

There are significant changes to the overtime rule and W-4 that will impact businesses in 2020. Read further to learn more about these changes and access the linked resources to help your business be prepared.

New Overtime Rule Effective January 1, 2020 

The Department of Labor (DOL) has released a final rule that will increase the minimum salary requirement to be considered exempt from overtime under the Fair Labor Standards Act (FLSA). The final rule took effect on January 1, 2020. Check out the overview of the new rule and guidelines to help you prepare via this article from ADP.

W-4 Form

The W-4 tax form gets its first update in more than three decades. If you’re a business owner and plan to add new hires, make note that the W-4 form has changed. Check out the details via https://abcnews.go.com/Business/tax-form/story?id=67987326