Insights on benefits counseling and litigation issues impacting employers nationwide
Guidance issued by the Treasury Department and the Small Business Administration (SBA), the federal agency that administers the Paycheck Protection Program (PPP), demonstrates that the PPP loans, as originally thought, were too good to be true.
PPP was established by section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Public Law…
Much has happened in the three-plus weeks since the Coronavirus Aid, Relief, and Economic Securities (CARES) Act was enacted on March 27, 2020. The $349 billion dollars appropriated to the newly created Paycheck Protection Program (PPP) has been exhausted. The Small Business Administration (SBA), the Federal agency administering the PPP, reports they have made over…
What could be in the next stimulus bill in response to the COVID-19 pandemic? Congress reportedly is working on a bill (dubbed “Stimulus 3.5”) that includes additional funding for the Paycheck Protection Program created by the CARES Act. Will the new stimulus bill address long-awaited reforms to the multiemployer pension plan system?
The imminent…
The Internal Revenue Service has broadened the filing and payment relief provided under prior guidance. IRS Notice 2020-23 postpones, among other relief, the due date for employee benefit plans required to make the Form 5500 series filings due on or after April 1, 2020, and before July 15, 2020. Plans with original due dates or…
On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The Act largely stabilizes fragile industries, provides loans and tax credits to businesses tied to their retaining their workforces during these uncertain times, and offers additional unemployment relief to employees hurt by COVID-19. But the CARES Act…
