News & Analysis as of

American Rescue Plan Act of 2021 Final Rules

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Places Moratorium on New Employee Retention Tax Credit Processing

On September 14, 2023, the Internal Revenue Service (IRS) released Employee Retention Credit (ERC) guidance placing a moratorium on processing new ERC claims due to a surge in questionable claim submissions. Claims already...more

Bowditch & Dewey

Massachusetts Communities Use ARPA Funds to Develop Novel Affordable Housing Programs

Bowditch & Dewey on

MassHousing, Boston, Salem and Worcester have introduced novel programs using American Rescue Plan Act (ARPA) funds to create and preserve affordable housing following the U.S. Treasury’s Final Rule on Coronavirus State and...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Finalizes Rules to Collect Taxes on Erroneously Claimed Employee Retention Credits and Other COVID-19 Tax Credits

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have finalized rules for the recapture of erroneously claimed Employee Retention Credits (ERC) and other tax credits provided to employers for...more

Bricker Graydon LLP

ARPA final rule - The "B-sides collection": Parks and recreation facility improvements

Bricker Graydon LLP on

Continuing our series of articles reviewing the lesser publicized aspects of the American Rescue Plan Act guidance (hence, the “B-sides” moniker), here we address the U.S. Treasury’s issued guidance as it relates to spending...more

ArentFox Schiff

Drug Pricing Reform Finally Becomes Law: What the Inflation Reduction Act Means for Pharma

ArentFox Schiff on

After many years of policy debate and attempts at proposed legislation, some of the most meaningful changes to the ways in which Medicare pays for prescription drugs – and the obligations of manufacturers selling drugs to...more

Morgan Lewis

PBGC Issues Final Regulation on Multiemployer Pension Plan Special Financial Assistance

Morgan Lewis on

The Pension Benefit Guaranty Corporation has issued a Final Rule implementing the special financial assistance provisions of the American Rescue Plan Act to help financially troubled multiemployer pension plans. The Final...more

Bricker Graydon LLP

ARPA cash: Demolition and capital expenses related to vacant and abandoned buildings

Bricker Graydon LLP on

Much ballyhoo has accompanied the U.S. Treasury’s publication in January 2022 of its Final Rule in the use of American Rescue Plan Act (ARPA) funds. Local governments across the country are scrambling to deploy their stimulus...more

Bricker Graydon LLP

ARPA Final Rule - The "B-sides collection": Affordable housing development

Bricker Graydon LLP on

With the U.S. Treasury’s January 2022 release of its Final Rule in the use of American Rescue Plan Act (ARPA) funds, we began publishing this series of articles reviewing the lesser publicized aspects of that guidance (hence,...more

Holland & Knight LLP

Local Government Update: Treasury's Final Rule on American Rescue Plan Coronavirus State and Local Recovery Funds

Holland & Knight LLP on

The U.S. Department of the Treasury released the Final Rule on Jan. 6, 2022, governing the use of Coronavirus State and Local Fiscal Recovery Funds (SLFRF) as established under the American Rescue Plan. To assist…...more

Bricker Graydon LLP

ARPA final rule - The “B-sides collection”: Seeding revolving loan funds

Bricker Graydon LLP on

Continuing our series of articles reviewing the lesser publicized aspects of the new American Rescue Plan Act (ARPA) guidance (hence, the “B-sides” moniker), we address the U.S. Treasury’s issued guidance as to using federal...more

Morgan Lewis - ML Benefits

DOL Updates Form 5500 for PEPs and MEPs; No Decision Yet on Group of Plan Issues

The US Department of Labor (DOL) issued a final regulation (Final Rule) on December 29, 2021, updating the 2021 Form 5500 to reflect certain statutory changes included in the Setting Every Community Up for Retirement...more

Schwabe, Williamson & Wyatt PC

Treasury Issues Final Rule on COVID State Funds

On January 6, 2022, the U.S. Department of the Treasury issued a final rule on the use of Coronavirus State & Local Fiscal Recovery Funds (SLFRF) provided to state, local, and tribal governments pursuant to the American...more

Bradley Arant Boult Cummings LLP

Treasury Issues Final Rule for State and Local Fiscal Recovery Funds Under the American Rescue Plan

On March 11, 2021, the American Rescue Plan Act (“ARPA”) was signed into law and established the Coronavirus State Fiscal Recovery Fund and Coronavirus Local Fiscal Recovery Fund, which together make up the Coronavirus State...more

Bricker Graydon LLP

ARPA Final Rule - The “B-sides collection”: Funding capital projects

Bricker Graydon LLP on

Much has been written by various prognosticators regarding the January 6, 2022, release by the U.S. Treasury of its Final Rule as to the use by state and local governments of federal stimulus funding under the American Rescue...more

Best Best & Krieger LLP

U.S. Treasury Releases Final Rule on ARPA Coronavirus State and Local Fiscal Recovery Funds

Final Rule, Considered Victory for Local Governments, Takes Effect in April 2022 - The U.S. Department of Treasury has released the Final Rule governing implementation of the American Rescue Plan Act (ARPA) Coronavirus...more

Proskauer - Employee Benefits & Executive...

ARPA Final Rule Expected in January

As we previously reported, on July 9, 2021, the PBGC issued an interim final rule pursuant to the American Rescue Plan Act of 2021 (“ARP”) explaining how it intends to calculate the special financial assistance for...more

Jackson Lewis P.C.

PBGC Issues Interim Rule On Multiemployer Pension Bailout; Impact On Employers Unclear

Jackson Lewis P.C. on

On July 9, 2021, the Pension Benefit Guaranty Corporation (PBGC) issued its interim final rule on the process for eligible troubled Multiemployer Pension Plans (MEPPs) to apply for and obtain Special Financial Assistance...more

Littler

PBGC Issues Interim Final Rule on the American Rescue Plan Act’s Special Financial Assistance Program

Littler on

On July 9, 2021, the Pension Benefit Guaranty Corporation issued its interim final rule implementing the Special Financial Assistance (SFA) program passed in March 2021 as part of President Biden’s American Rescue Plan Act of...more

Goodwin

OCC Grants National Trust Bank Charter to Third Cryptocurrency Firm

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval to a third cryptocurrency firm chartering a national trust bank; the Consumer Financial Protection Bureau (CFPB)...more

Sheppard Mullin Richter & Hampton LLP

Biden Administration Finalizes Lower Out-of-Pocket Costs for Exchange Plans, Targets Health Equity and Access

The Biden Administration used the annual rulemaking that governs health plans sold on the Affordable Care Act’s exchanges to lower health care costs for consumers and improve access to health care. Part 2 of the Notice of...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #2

Lowenstein Sandler LLP on

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

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