Advocacy Alert: DOL releases final overtime rule

by MICPA | May 23, 2016   ()
The Department of Labor (DOL) released its final overtime rule, which raises the threshold or “white collar” exemption for overtime pay from $23,660 to $47,476 per year, effective Dec. 1, 2016. The salary threshold will increase every three years. The final rule does not make any changes to the duties test for executive, administrative and professional employees. 
During the comment period, the MICPA voiced concerns in its own comment letter to the DOL. The MICPA also joined with the AICPA in the Partnership to Protect Workplace Opportunity (PPWO). To inform the DOL about the unintentional damage to small businesses, their employees and the U.S. economy the rule would inflict. 
Statements issued by the AICPA and PPWO express deep concerns about the adverse effects of the final regulations and urge continued advocacy through Congressional intervention.
Source: MICPA
Source: MICPA

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