The American Rescue Plan Act of 2021 includes a modified version of the Butch Lewis Act, referred to as the Emergency Pension Plan Relief Act of 2021 (EPPRA), which restores to financial health more than 100 failing...more
3/16/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
Coronavirus/COVID-19 ,
Insolvency ,
Joe Biden ,
MPRA ,
Multi-Employer Pensions ,
Multiemployer Pension Plan Amendments Act (MPPAA) ,
Multiemployer Plan ,
Pensions ,
Relief Measures ,
Withdrawal Liability
The American Rescue Plan Act of 2021 expands upon some popular tax credit provisions and makes other changes to a key tax provision regarding compensation deduction limitations. These changes are summarized below...more
3/15/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Employee Retention ,
Families First Coronavirus Response Act (FFCRA) ,
Internal Revenue Code (IRC) ,
Non-Discrimination Rules ,
Paid Leave ,
Qualified Health Plans ,
Relief Measures ,
Tax Credits ,
Wage and Hour
Recent statements by Small Business Administration (SBA) and Treasury Department officials have confused many Paycheck Protection Program (PPP) borrowers and led many to return PPP funds or consider doing so. Finally, the SBA...more
The Small Business Administration (SBA) violated federal law by imposing conditions for loans under the Paycheck Protection Program (PPP) that were not enacted in the Coronavirus Aid, Relief, and Economic Security Act, H.R....more
In our post of April 4, we advised there was an ambiguity between the CARES Act and subsequent guidance issued by the Small Business Administration (SBA) on whether employees of foreign affiliates of applicants are considered...more
Applicants in the Small Business Administration’s (SBA) Business Loan Programs (which include the Paycheck Protection Program (PPP)) are generally subject to the affiliation rule in 13 CFR Section 121.301, subject to certain...more
CARES is expected to infuse approximately $2.2 trillion into the U.S. economy. The Act addresses a multitude of ways in which the federal government seeks to support businesses impacted by the pandemic and employees affected...more