Although the answer depends on each employer’s facts and circumstances, it seems that many employers may still be eligible for the employee retention credit (ERC) as state and local governments re-open their economies in stages.
The PPP loan forgiveness form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers.
Thanks to the CARES Act, you may now skip your Required Minimum Distribution for 2020, and pull out emergency cash, without withdrawal penalties if qualified.
This program is targeted to those Idaho small businesses that did not receive the Paycheck Protection Program.
Ascertaining lost revenue and income stemming from these extraordinary circumstances is key to minimizing the financial consequences of this pandemic.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, extends several key deadlines for 403(b) and defined benefit plan sponsors.
In this blog, we address three of the most immediate questions that companies should be considering related to their retirement plans.
The CARES Act provides two distinct and substantial employment tax benefits for certain employers under Sections 2301 and 2302 of the Act. Taken together, these provisions provide significant relief for employers and are designed to encourage employers to continue paying wages to employees during these unprecedented times.
While the programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act are primarily intended to assist businesses, there are many programs that nonprofits and higher education institutions can benefit from.
The CARES Act includes several relief provisions for tax-qualified retirement plans, expands health care flexible spending accounts so funds can be used for over-the-counter items, clarifies some health insurance plan questions, and, through year-end, allows employers to reimburse employees for student loan payments tax-free.