IRS Guidance On Treating Partners As Employees

The IRS has released temporary and proposed regulations clarifying that partners in a partnership that owns a disregarded entity (DRE) may not be treated as “employees” of the DRE (T.D. 9766; REG-114307-15). As a result, such partners are subject to self-employment tax on amounts received from the DRE and are not permitted to participate in certain tax-favored employee benefit plans.
Overview of the Regulations
The following example illustrates of the type of situation addressed by the […]

By | May 24th, 2016 ||

End Of Service Benefits Comparison Of Gratuity Under The UAE Labor Law

Employees are eligible for Gratuity at the end of completing a full years of service. This gratuity is calculated as 21 days of salary. Salary in this case excludes any allowances for housing or transport etc and considers only the basic salary of the employee.

Both the DIFC Law and the UAE Labour Law No. 8 of 1980 take an almost identical position on the issue of severance pay. The DIFC laws also calculate the […]

By | May 20th, 2016 ||

Breaking News From The U.S. Department Of Labor

The Department of Labor has just announced a Final Rule on overtime pay, which is projected to affect over 4 million employees who will be eligible for overtime pay. This Final Rule defines which white collar workers are protected by the Fair Labor Standards Act’s minimum wage and overtime laws. Employers must comply with these new regulations when they go into effect December 1, 2016.

Here are some key provisions of the Final Rule:

All workers earning […]

By | May 18th, 2016 ||