IRS issued guidance for employers claiming the employee retention credit under the Coronavirus Aid, Relief, and Economic Security Act modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020. Notice 2021-23 explains the changes for the first and second calendar quarters of 2021, including: the increase in the maximum credit amount the expansion of […]
Tag: ARPA
Provisions implement COBRA premium assistance through September 2021 The U.S. Department of Labor today issued guidance implementing the American Rescue Plan’s Continuation of Health Coverage premium assistance provisions to provide full COBRA premium assistance to certain individuals who have experienced a reduction in hours or involuntary termination of employment. The guidance from the department’s Employee Benefits Security […]
I include a summary here because you might read the rest of this article and think, “No way, really?!” And yes, yes really. Summary: The American Rescue Plan Act provides for a 100 percent COBRA premium subsidy for certain former employees from April 1, 2021 to Sept. 30, 2021 and provides a second chance for […]
Hey Compliance Warriors! President Biden has signed ARPA into law and the effects on the workplace are many. Check out this article by the National Law Review for more details. https://www.natlawreview.com/article/american-rescue-plan-extends-ffcra-tax-credit-not-mandate On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (the “Plan”). The Plan is the most recent stimulus bill […]