Pandemic Relief Package Includes Benefit Provisions
Legislation proposed by the House Ways and Means Committee to provide pandemic relief includes several items that would affect retirement and health benefits.
IRS Updates FAQs on Tax Credits for COVID-Related Leave
On January 28, 2021, the IRS posted updated FAQs on COVID-19-related employer tax credits for paid leave that is provided by certain businesses.
PPP Reopens the Week of January 11 2021
Paycheck Protection Program reopens the week of January 11, 2021.
IRS Addresses Tax Benefits Related to PPP Loans
The IRS has issued Revenue Ruling 2021-02 guidance related to tax benefits associated with PPP loans.
DOL Updates Q&As for Pandemic-Related Paid Leave
The DOL has issued an update to its Q & A guidance on paid employee leave under provisions of FFCRA.
Spending Bill Contains Coronavirus Relief
On December 21, 2020, Congress passed additional measures to provide economic relief from the effects of the coronavirus pandemic. On December 27, 2020, it was signed into law.
COVID Relief and Government Funding Legislation Delayed
Legislation for a new round of economic relief for victims of the COVID-19 pandemic and extend funding for federal government agencies remains in pending status.
Extended Due Date for Single-Employer DB Contributions
The IRS has clarified that contributions to single-employer DB plans due January 1, 2021, under the CARES Act are considered timely if they are made no later than January 4, 2021.
Treasury and SBA Announce Simpler PPP Loan Forgiveness Form
Treasury and SBA have announced a “simpler” version of the form used by recipients of Paycheck Protection Program (PPP) business loans of $50,000 or less to request loan forgiveness.
House Passes Revised Pandemic Relief Bill, Disagreements Remain
The House of Representatives has passed a revised version of the HEROES Act estimated at $2.2 trillion to provide pandemic relief.
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