covid-19

The IRS recently updated its coronavirus-related relief for retirement plans and IRAs questions and answers (FAQs) for Sec. 2202 of the CARES Act.

The IRS has released Notice 2021-57, providing guidance for multiemployer defined benefit (DB) plans receiving funding relief under the American Rescue Plan Act of 2021.

The IRS has issued Notice 2021-58, which clarifies the application of extension under the “Joint Notification of Extensions of Certain Timeframes for Employee Benefit Plans, Participants, and Beneficiaries Affected by the COVID-19 Outbreak”.

Senator Patty Murray (D-WA) and Representative Lauren Underwood (D-IL) have introduced the Women’s Retirement Protection Act of 2021 in their respective chambers.

The IRS again extends temporary relief from physical presence requirement for retirement plan consents.

The IRS released a Q&A on the temporary partial plan termination rules for qualified retirement plans in accordance with the Taxpayer Certainty and Disaster Tax Relief Act of 2020.

President Biden has signed into law the American Rescue Plan Act one day after the House of Representatives voted to pass the amended package. 

Following Senate passage, the House of Representatives has passed the American Rescue Plan Act of 2021 to provide additional relief to address the continued impact of COVID-19. 

The SBA has issued an interim final rule that would allow business owners who file a Schedule C to use gross income in determining payroll costs for PPP loans. 

The Departments of Labor, Health and Human Services, and Treasury have issued “FAQs About Families First Coronavirus Response Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 44”.