On Dec. 29, 2022, the IRS announced the 2023 optional standard mileage rates, which are used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. The 2023 standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be:

• 65.5 cents per mile driven for business use, up three cents from the midyear rate for the second half of 2022;
• 22 cents per mile driven for medical purposes or for moving purposes for qualified active duty members of the Armed Forces, unchanged  from the midyear rate for the second half of 2022; and
• 14 cents per mile driven in service of charitable organizations. The rate is set by statute and remains unchanged from 2022.

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On Dec. 29, 2022, President Biden signed the Consolidated Appropriations Act of 2023, an omnibus bill that includes the “SECURE 2.0” legislation. It is referred to as such because it builds on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.

Key SECURE 2.0 provisions include:

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On Dec. 12, 2022, the IRS released a final rule that extends the annual furnishing deadlines for Sections 6055 and 6056 reporting under the Affordable Care Act (ACA). This rule finalizes guidance that was proposed by the IRS in December 2021 with minor clarifications. Specifically, the rule:

• Finalizes the 30-day automatic extension to the due date for furnishing statements to individuals under Sections 6055 and 6056.
• Confirms the availability of an alternate method for furnishing statements to individuals under Section 6055 for every year in which the individual mandate penalty is zero.

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An HR compliance calendar is a valuable tool to help your business stay on track with key employment-related deadlines throughout the year. HR compliance is a complex area with many moving parts. Keeping track of HR deadlines during 2023 can help your business stay organized and avoid the penalties or workplace disruption that may be triggered by noncompliance.

There are a number of HR compliance tasks with predictable deadlines that you can anticipate from year to year, such as providing your employees with Form W-2 and filing Form 5500 for your employee benefit plans. Other deadlines can be unpredictable or triggered by certain events, such as when you hire a new employee or when an employee gets injured at work. Knowing what your business is required to do and when is the best way to stay compliant.

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We recently released our latest Attraction and Retention Newsletter for the first quarter of 2023. In this edition, we cover:

1. Market Recap – Employee Quits and Job Openings Trend Down While Employers Prepare for Economic Uncertainty

2. Securing Talent – Identifying and Retaining Key Employees (Including the Quick Quitting Trend)

3. Workplace Outlook – Summary of the Bureau of Labor Statistics (BLS) Data

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Check out our PDF chart below for a list of states that have upcoming minimum wage increases in 2023 (click either image for the full report):

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Many benefit plan limits have changed for the new calendar year. Here are some limits to review for 2023:

401(k) Limits

• Pre-tax contributions: $22,500 (up $2,000 from 2022)
• Catch-up contributions: $7,500 (up $1,000 from 2022)

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Many organizations rely on seasonal workers to supplement their regular workforce during peak times. This often occurs during busy seasons or holidays, as there’s an influx of business activity. While similarities exist, there are important differences between seasonal and regular employment. Due to these differences, hiring and reliance on seasonal workers can present significant and unexpected challenges for employers.

Seasonal employment is temporary employment that occurs during a specific time of the year. Employers often hire seasonal workers when they need extra help. This need may be based on industry demands, financial reasons, or increased consumer traffic, such as during the holiday season. Seasonal employment is more common in certain industries, such as delivery services, ski resorts, and agriculture.

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As employers navigate trends such as “quiet quitting”—a new term within the employment landscape that refers to workers only doing what their job description entails without going above and beyond—new data revealed that many workers have begun “quick quitting.” That is, in certain industries, workers are quitting their jobs at increasingly high rates before the one-year mark. The emergence of this trend demonstrates that workers in the United States are getting more comfortable leaving their jobs.

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Pay transparency is when an employer openly communicates pay-related information through established practices to current or prospective employees. Employers can provide this information through various channels, such as online job sites, job postings, or during an interview. As a result of changing labor markets, more and more employees are demanding pay transparency. Further, some jurisdictions are now requiring employers to share pay information, meaning that this trend is impacting more and more employers.

Pay Transparency Across the Nation – As demands for pay transparency increase, some states have passed legislation requiring organizations to be transparent. In recent years, California, Colorado, Connecticut, Maryland, Nevada, Rhode Island, and Washington have all passed pay transparency laws. Some cities, including New York City, Jersey City, and Cincinnati, have also passed such laws.

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