Extended Tax Returns & Department of Labor Overtime Update
Extended Tax Returns
If you are one of the clients who filed for an extension, please send any outstanding tax information and documents to us as soon as possible. You can fax, scan and email, or send copies via the US Postal Service. Thank you in advance for your prompt submission.
Department of Labor Wage and Hour Division Update
The US Department of Labor has updated the overtime rules for salaried employees. Effective July 1, 2024, workers who make as much as $43,888 per year will be eligible for time-and-a-half overtime under the Fair Labor Standards Act, up from the current $35,568 minimum.
Effective January 1, 2025, the salary threshold will increase to $58,656.
Employees covered by the Fair Labor Standards Act (FLSA) must receive overtime pay for hours worked over 40 in a work week at a rate not less than time and one-half their regular rate of pay. The FLSA does not require overtime pay for work on Saturdays, Sundays, holidays, or regular days of rest, unless overtime is worked on such days.
For more information about the DOL's rulings, visit their website: