Ascertaining lost revenue and income stemming from these extraordinary circumstances is key to minimizing the financial consequences of this pandemic.
Deadline Extensions For 403(b) and Defined Benefit Plans
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.
COVID-19’s Impact On U.S. Retirement Plans
In this blog, we address three of the most immediate questions that companies should be considering related to their retirement plans.
CARES Act Aids Employers Who Continue To Pay Employees
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.
How does the CARES Act Help Nonprofits and Higher Education Institutions?
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.
CARES Act Relaxes Qualified Plan and Employee Benefit Rules To Improve Cash Flow For Employer and Employees
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.
ASC 740 Income Taxes – Implications of COVID-19 and the CARES Act
The CARES Act includes several business provisions that may impact a company’s accounting for income taxes. In addition, the impact of COVID-19 itself on businesses draws attention to certain provisions in ASC 740.
Individuals: What You Need to Know About the CARES Act
This alert briefly summarizes the following relief provisions affecting individuals enacted in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020.
An Overview of SBA Loan Options – Paycheck Protection Program & Economic Injury Disaster Loans
In response to the novel coronavirus (COVID-19) pandemic affecting the small business community across the country, the U.S. Small Business Administration (SBA) is offering 2 types of loans for small businesses to help through this unprecedented time; the Paycheck Protection Program and Economic Injury Disaster Loans.
OMB Guidance Provides Relief to Federal Award Recipients Amid COVID-19
To help provide some assistance, the Federal Office of Management and Budget (OMB) released a memo on March 19, 2020, providing federal agencies with guidance for managing grants and cooperative agreements during the COVID-19 pandemic.