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U.S. Master™ Wage-Hour Guide, 2009 Edition 
Presents a first approach to the broad and complex controls under the Fair Labor Standards Act (FLSA), Family and Medical Leave Act (FMLA), and other statutes regulating employee wages and hours.
The IRS has released the inflation-adjusted tax rate tables for tax years beginning in 2010, as well as the 2010 standard deduction and personal exemption amounts. The 2010 standard deduction is $11,400 for surviving spouses and for individuals who file joint returns, $8,400 for heads of households and $5,700 for unmarried individuals and married persons filing separate returns. The personal exemption for tax years beginning in 2010 remains $3,650. The threshold amounts at which the phaseout of the tax benefit of the personal exemption begins and ends and the "applicable amount" for triggering the phaseout of itemized deductions have also been determined.
Adoption assistance
The maximum credit allowed in the case of an adoption of a child with special needs is $12,170; the maximum credit allowed with regard to other adoptions is the amount of qualified adoption expenses up to $12,170. The excludable amount begins to phase out under Code Sec. 137(b)(2)(A) for taxpayers with modified adjusted gross income (AGI) in excess of $182,520 and is completely phased out for taxpayers with modified AGI of $222,520.
Earned income limit
The earned income limit for the maximum credit has increased to $8,970 for a qualifying individual with one child, $12,590 for a taxpayer with two or more children, and $5,980 for a taxpayer with no children. The EIC will be denied if the aggregate amount of certain investment income exceeds $3,100.
Medical savings accounts
Medical savings accounts are available to certain employees of small businesses only when used in conjunction with a “high deductible health plan” whose deductibles are indexed for inflation. For 2010, for individual coverage, the deductible must range from $2,000 to $3,000 with an out-of-pocket maximum of $4,050. For family coverage, the deductible range is $4,050 to $6,050 with an out-of-pocket maximum of $7,400.
Transit COLAs
For tax years beginning in 2010, the monthly limit under Code Sec. 132(f)(2)(A) for employer-provided vanpooling and transit passes is $230. The monthly limit under Code Sec. 132(f)(2)(B) regarding the fringe benefit exclusion amount for qualified parking is $230.
Foreign earned income exclusion
The foreign earned income exclusion amount was adjusted for 2010 to $91,500. (Revenue Procedure 2009-50, IRS News Release IR-2009-93, October 15, 2009.)
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