Industry experts believe that blockchain technology could be particularly useful in recruiting and payroll.

Blockchain and Recruiting

Blockchain technology could make it possible for employees to fully control data about themselves, a concept referred to as “self-sovereign identity.” For example, a recruiter could use blockchain to verify a candidate’s claim of achieving a certification, but the candidate would first have to release access to a blockchain entry cross-signed by the certifying body, which gives the candidate greater control over such data and also reduces the amount of time recruiters spend verifying information.

Blockchain and Payroll

Blockchain technology is an encrypted digital ledger of public records organized into groups of data (blocks) and distributed over networks. This type of technology is best known for being the backbone technology for the digital currency bitcoin and is a way to store personal information in a secure manner and make it available to anyone with permission from those individuals.

According to experts at the Human Resource Executive’s 20th Annual HR Technology Conference & Exposition, blockchain technology will come to the HR industry within the next 18-24 months, with companies like Microsoft and IBM already making huge investments in the technology. The potential HR uses of blockchain technology could be limitless. Read More

On Dec. 22, 2017, the IRS issued a notice that delays the furnishing deadline for 2017 Affordable Care Act (ACA) reporting and President Donald Trump signed the tax reform bill, called the Tax Cuts and Jobs Act, into law, eliminating the individual mandate penalty beginning in 2019. This article briefly summarizes the implications of both of these actions.

IRS Delays Furnishing Deadline

The IRS’ Notice 2018-06 extends the following:

• • The due date for furnishing forms under Sections 6055 and 6056 for 2017 for 30 days, from Jan. 31, 2018, to March 2, 2018
• • The good-faith transition relief

from penalties related to 2017 information reporting under Sections 6055 and 6056

However, Notice 2018-06 does not extend the due date for filing forms with the IRS for 2017. The due date for filing with the IRS under Sections 6055 and 6056 remains Feb. 28, 2018 (April 2, 2018, if filing electronically). Read More

On Dec. 16, 2016, the Department of Labor (DOL) released a final rule to strengthen the claims and appeals requirements for plans that provide disability benefits and are subject to the Employee Retirement Income Security Act (ERISA). That rule has been delayed until April 1, 2018.

According to the DOL, concerns were raised that the final rule will impair workers’ access to disability benefits by driving up costs and increasing litigation. During the delay, the DOL will review the final rule to determine whether it is unnecessary, ineffective or imposes costs that exceed its benefits.

Sponsors of ERISA plans that include disability benefits should continue to monitor the status of the final rule. Read More

The cold, crisp air and breathtaking views are just a few of the simple joys associated with winter sports. To ensure that your skiing or snowboarding excursions remain safe, be sure to keep in mind the following

five tips:

1. Inspect your skiing or snowboarding equipment to ensure that it is in good working condition.

2. Wear protective headgear, such as a helmet and snow goggles.

3. Yield to skiers or snowboarders in front of or below you on the slope.

4. Carry a fully charged cell phone with you at all times.

Read More