The Internal Revenue Service has offered a settlement to executives and companies
that participated in tax shelters created to avoid paying taxes when executives' stock options
or restricted stock are exercised.
The costs of benefits in the private sector rose 1.5 percent from September to December, significantly higher than the 1.0 percent gain in the previous quarter, according to the Bureau
of Labor Statistics of the U.S. Department of Labor.
As the economy picks up steam and hiring activity increases, it's particularly
important for employers to take the time to update their organizations' job
descriptions, especially in light of new Fair Labor Standards Act regulations
governing who is eligible for overtime.
The American Jobs Creation Act of 2004 makes substantial changes to the tax
rules for nonqualified deferred compensation plans. The new rules are effective
January 1, 2005.
The median salary for security professionals in the United States rose 8.3 percent from 2002 to 2003, according to new survey results from a professional association.
The Treasury Department and IRS have issued guidance regarding transition rules
under section 409A, which provides new rules for nonqualified deferred compensation
plans.
In a final statement on a stock-options rule, the Financial Accounting Standards Board says that
companies must treat employee stock options as an expense on financial statements
beginning in 2005.
A pattern that found many U.S. employers making sharp cuts to their pay-increase
budgets at the end of the year appears to be changing, according to a survey
by Mercer Human Resource Consulting.
Buying a house in the U.S. cost 8.5 percent more in October of this year than it did in the same month last year, according to the Federal Housing Finance Board.
Average hourly earnings were up by 1 cent in November to $15.83, seasonally adjusted, following a 4-cent gain in October, according to the Bureau of Labor Statistics.
