On November 22, 2021, the U.S. Department of Labor (DOL) published a final rule implementing Executive Order (EO) 14026, which mandates an increase in the minimum wage for many federal contractors and subcontractors. The final rule, issued after a four-month public comment period that followed a notice of proposed rulemaking issued on July 22, 2021, raises the federal contractor minimum wage to $15 per hour (representing a $4.05 increase from the current minimum wage for federal contractors of $10.95 per hour) and permits the Secretary of Labor to increase the minimum wage annually beginning in 2023.
On Jan. 27, 2023, the California Attorney General announced his office is investigating and sending letters to businesses in the retail, travel, and food industries with popular mobile apps that allegedly are not in compliance with the California Consumer Privacy Act (CCPA) by failing to offer a consumer opt-out mechanism for sales, or honor rights requests submitted via authorized agents.
In 2022, New York State and New York City enacted many new workplace laws, creating additional obligations for employers.
While ransomware attacks have been on the rise since 2020, a recent trend has emerged where threat actors are bypassing ransomware malware and encryption tactics and going straight to data theft.
On January 13, 2023, the Internal Revenue Service (IRS) released a Chief Counsel Advice Memorandum (CCA 202302011) concluding that taxpayers cannot claim a deduction for cryptocurrency losses that have, absent a sale or other taxable disposition, substantially declined in value if such cryptocurrency continues to trade on at least one cryptocurrency exchange and has a value that is greater than zero.
Six of the seven Medicare Administrative Contractors (MACs) are scheduled to jointly host a multijurisdictional contractor advisory committee (CAC) meeting on February 28, 2023.
The District of Columbia Council has postponed the first effective date of voter Initiative 82, the “Tip Credit Elimination Act,” from January 1, 2023, to May 1, 2023.
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