Top Small Business Compliance Issues for 2018

Top Small Business Compliance Issues for 2018

1. Tax Reform

Employers must implement new withholding tables (tables available from TAG) no later than February 15, 2018. New provisions of this legislation take effect in 2018 and employers should assess what changes they should make to stay in compliance with the IRS.

2. States Reaction to Federal Tax Reform

Although most states conform to the IRS code, many states are trying to lessen the impact on state tax payers and state revenue. Look for new state tax laws in reaction to federal tax reform.

3. Overtime Regulations

The prior administration’s Final Overtime Rule was invalidated in late 2017. New federal overtime regulations could be in place in early 2019. Meanwhile, continue to comply with existing federal and state overtime regulations.

4. Minimum Wage Increases

A federal minimum wage increase isn’t expected soon. But many states and local jurisdictions have been inspired to raise theirs in response. Keep up with your state and local wage laws.

5. Expansion of Pay Equity Rules

Many state and local legislatures are expanding their pay equity regulations to protect workers. There are many tricky compliance issues here for employers, including non-retaliation, and in some cases to protect applicants, like not asking about salary history.

6. Paid Leave Law Expansion

The trend that more states and cities are implementing paid sick leave policies. Compliance is complicated, to say the least. An additional trend to keep an eye on is paid family leave, which is also expanding at all levels of government.

7. Healthcare Regulations

ACA will continue as the law of the land until and unless congress repeals and replaces it. It is wise to continue compliance with the unchanged ACA, rather than betting on a change and relaxing your compliance efforts.