False Claims Act Implications for PPP and Disaster Relief Loans: What Small Businesses Should Be Ready For
On December 27, 2020, President Trump signed the Consolidated Appropriations Act of 2021 (the “Stimulus Act”), which not only gives taxpayers another stimulus payment but changes to retirement plans, including qualified...more
Last year, in response to the COVID-19 pandemic, the United States Congress and the Puerto Rico Department of Treasury (Hacienda) granted favorable tax treatment to coronavirus-related distributions (CRDs) and participant...more
We previously reported on the Bipartisan Budget Act (the “Budget Act”) hardship distribution rule changes for qualified retirement plans. On September 23, 2019, the IRS issued final regulations implementing certain statutory...more
Not all 401(K) and other qualified plans allow hardship withdrawals, but if your plan does allow hardship withdrawals, make sure it is compliant with the new rules finalized in September. All of the changes are optional for...more
As the end of the calendar year approaches, sponsors of qualified retirement plans should consider whether their plan documents require updates to comply with important legal changes and deadlines. Below is a summary of some...more
In this episode, Nickolas Spiliotis discusses employer responsibilities when a natural disaster hits. He covers wage and hour issues, employee protections, and tips for employers. ...more
When Hurricanes Harvey and Irma made landfall in Texas and Florida, they gave rise not only to widespread property damage, but to a humanitarian disaster as well. The massive storms have left scores dead and thousands...more
Following Hurricane Harvey and its resulting destruction, many employees are in need of financial assistance and/or early access to retirement funds. We will highlight how employers can make direct financial assistance...more
In the wake of massive floods caused by Hurricane Harvey, the Department of Labor (DOL), Internal Revenue Service (IRS), and Pension Benefit Guaranty Corporation (PBGC) have issued initial employee benefit plan guidance. The...more