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New law extends COVID tax credit for employers who keep workers on payroll IR-2021-21, Jan. 26, 2021 WASHINGTON — The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed......
Paycheck Protection Program and Health Care Enhancement Act In response to the spread of the 2019 novel coronavirus (COVID-19), President Trump signed the Paycheck Protection Program and Health Care Enhancement Act (PPPHCEA) into law on April 24, 2020. The PPPHCEA is phase 3.5 in Congress’......
New IRS Form 7200 Families First Coronavirus Response Act Leave Tax Credit and Coronavirus Aid, Relief, and Economic Security Act Employee Retention Tax Credit The Internal Revenue Service (IRS) recently released IRS Form 7200 along with completion Instructions. Form 7200 may be used by an......
Coronavirus Bill Requiring Paid Employee Leave Signed Into Law On March 18, 2020, President Trump signed the Families First Coronavirus Response Act (the Act) into law. The Act requires employers to provide paid leave for some employees related to the coronavirus (COVID-19) pandemic, among other......
Compliance Recap March 2020 March was a busy month in the employee benefits world. The President signed the Families First Coronavirus Response Act (FFCRA) into law. The Department of Labor (DOL) issued a bulletin regarding enforcement of the FFCRA. The President also signed the Coronavirus......
Compliance Recap February 2020 February was a busy month in the employee benefits world. The Centers for Medicare and Medicaid Services (CMS) released an updated Premium Assistance Under Medicaid and the Children’s Health Insurance Program (CHIP) model notice. CMS also issued frequently asked questions (FAQs)......
Updated December 2019 In December 2019, the Further Consolidated Appropriations Act, 2020 included a one-year extension of the federal tax credit for employers that provide paid family and medical leave (FML) to their employees. As background, in December 2017, the Tax Cuts and Jobs Act (Act)......
IRS Releases Final Forms and Instructions for 2019 ACA Reporting Background Under the Patient Protection and Affordable Care Act (ACA), applicable large employers (ALEs) are required to offer health benefits to their full-time employees and individuals are required to have health insurance, although the penalty......
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