Legislative Update on FLSA Overtime Regulations

Legislative Update on FLSA Overtime Regulations

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On Tuesday, November 22, 2016, a Texas judge issued a preliminary injunction that effectively halts/delays the implementation of the Department of Labor (DOL) regulation that would change the way that employers have to start paying overtime to salaried workers.  President-Elect Trump has also threatened to roll back this regulation.

The ruling was set to go into effect on December 1, 2016. We will continue to monitor this issue and keep you updated.

For a summary of the ruling on changes to the overtime exemptions, read our article:

DEPT. OF LABOR ISSUES FINAL RULE ON FLSA OVERTIME REGULATIONS

 

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Source:
www.wsj.com


The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.


About the Author

Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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