Earlier in September, the US Department of the Treasury and the Internal Revenue Service issued updated guidance providing information for employers on how to report on Form W-2 the amount of qualified sick and family leave wages paid to employees for leave taken in 2021. Notice 2021-53 provides guidance under recent coronavirus legislation including the…
Read More »As we advised you a couple of weeks ago, a 100% subsidy of COBRA premiums was mandated by the American Rescue Plan Act (ARPA) through September 30. The ARPA further dictated that plan administrators give advance notice to “assistance-eligible individuals” (AEIs) that their COBRA subsidy period is coming to an end. The final date by…
Read More »The American Rescue Plan Act (ARPA), signed into law by President Biden back in March, required that “assistance-eligible individuals” (AEIs) be provided a 100% subsidy of their COBRA premiums through September 30, 2021. A separate provision of the ARPA requires that plan administrators give advance notice to AEIs when their COBRA subsidy period is coming…
Read More »One of the perhaps more impactful provisions in the bipartisan infrastructure bill that was released by Senators this past Sunday would end the employee retention tax credit (ERTC) as of September 30. The ERTC is a refundable tax credit equal to 50% of payroll-related costs up to a maximum credit of $5,000 per employee for…
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