| Volume 143 Number 2 |
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The People’s Lawyer’s Tip of the Day
As we start 2020, many of us are making financial resolutions. Of course, saving more or paying down debt sounds great, but getting started can feel overwhelming. Click here for more.
Here are some key tax changes taking effect in 2020
With the arrival of a new year, many consumers will already be preparing to file their 2019 federal tax return. But it could pay to be aware of tax changes that have just gone into effect for 2020. Even if you haven’t gotten a raise or added a dependent to your family, you might find yourself in a different tax bracket this year. The Internal Revenue Service (IRS) makes slight adjustments to the tax brackets every year to account for inflation. Click here for more.
Your Money
For married couples, combining finances is a smart way to streamline expenses. But at tax time, couples face a tricky question: File jointly or separately? Knowing which status to choose – married filing jointly or married filing separately – isn't always cut and dry. However, figuring out which way to go can result in many tax benefits. In most cases, married couples should file their taxes jointly in order to qualify for better tax breaks and ultimately reduce their overall tax liability. However, there are some circumstances when filing separately is the best option and both should be weighed carefully. Click here for more.
For the Lawyers
EEOC rescinds policy against binding arbitration of discrimination disputes. The Commission in 1997 adopted the Policy Statement on Mandatory Binding Arbitration of Employment Discrimination Disputes as a Condition of Employment (July 10, 1997) (Policy Statement). Since its issuance, the Supreme Court has ruled that agreements to arbitrate employment-related disputes are enforceable under the Federal Arbitration Act (FAA) for disputes between employers and employees. Circuit City Stores v. Adams, 532 U.S. 105 (2001). In other arbitration-related cases the Court has decided since 1997, the Court rejected concerns with using the arbitral forum - both within and outside the context of employment discrimination claims. Those decisions conflict with the 1997 Policy Statement. Although the rescinded policy recognizes the validity of arbitration agreements between employers and employees, case law also now makes clear that the EEOC continues to be fully available to employees as an avenue to assert EEO rights and to investigate in the public interest. The EEOC may hear disputes, regardless of whether the parties have entered into an enforceable arbitration agreement. Click here for more.