covid-19

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.

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 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.

The House of Representatives has passed a revised version of the HEROES Act estimated at $2.2 trillion to provide pandemic relief.

S. 4539 has been introduced with COVID-19 liability protection for businesses and healthcare providers, a tax credit for employer COVID-19 testing, and several retirement provisions.

The IRS has postponed the due date for reporting and paying an excise tax that results from a delay in making certain minimum required contributions to single-employer DB pension plans.

The DOL has issued a revision and clarification to guidance that implemented emergency paid sick leave and expanded family and medical leave under the Emergency Leave Rule.

The Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act (S.178), did not receive the votes needed to proceed to a final vote on the package.

Senate GOP leadership expected to vote on the Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act (S. 178).

The IRS has released two Notices with more guidance for certain provisions under the CARES and SECURE Acts.