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Financial Stimulus Tax Credits

Gould + Ratner LLP

IRS Issues Guidance for Claiming the Employee Retention Credit for the First Half of 2021

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This week, the IRS issued guidance for employers claiming the employee retention tax credit for the first two quarters of 2021. Background: Changes Under December 2020 Stimulus Plan - Detailed in a previous Gould &...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #3

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

Gould + Ratner LLP

The Latest COVID-19 Stimulus: Highlights of Key Tax Provisions in the American Rescue Plan Act of 2021

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The American Rescue Plan Act of 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact on employers and employees the coronavirus (COVID-19) pandemic has posed. The ARPA...more

Payne & Fears

$1.9 Trillion Stimulus: Five Things Employers Need to Know

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On March 11, 2021, President Biden signed H.R.1319 - American Rescue Plan Act of 2021 (“Rescue Plan”) into law—a $1.9 trillion stimulus bill. Here are five things every employer should know about the bill....more

BakerHostetler

The Most Important Items in the $1.9T American Rescue Plan Signed by President Biden

BakerHostetler on

President Biden signed the American Rescue Plan Act of 2021 (ARPA), an approximately $1.9 trillion COVID-19 relief, funding and tax bill that includes $1,400 direct payments to individuals, an extension of the $300 federal...more

Roetzel & Andress

The American Rescue Plan Act Of 2021

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Update: President Biden signed The American Rescue Plan Act on March 11, 2021- On Wednesday afternoon, Congress passed The American Rescue Plan Act of 2021, a broad, comprehensive policy response to the challenges brought...more

Amundsen Davis LLC

The American Rescue Plan Act Of 2021: What’s In It For Employers?

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Almost one year after the enactment of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), and with the second extension of pandemic unemployment assistance about to expire for millions of workers on March...more

Morgan Lewis

Initial Key Takeaways from the American Rescue Plan Act of 2021

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President Joseph R. Biden signed the American Rescue Plan Act of 2021 on March 11, which provides $1.9 trillion in relief funds across a broad spectrum of categories, including additional support for vaccine distribution,...more

Husch Blackwell LLP

The New FFCRA Under The American Rescue Plan Act

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Earlier today, a divided Congress approved the American Rescue Plan Act. The Act was the result of President Biden’s sweeping $1.9 trillion COVID-19 stimulus plan. President Biden is expected to sign the Act into law as early...more

Fisher Phillips

What Employers Need To Know About Biden’s American Rescue Plan

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After several weeks of tense negotiations and legislative twists and turns, President Biden’s latest COVID-19 stimulus package – the American Rescue Plan – has been passed by Congress and will become law once the president...more

Flaster Greenberg PC

Senate Passes $1.9 Trillion COVID-19 Relief Bill: What You Need To Know

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The Senate passed President Biden’s $1.9 trillion COVID-19 relief package late Friday night. While the bill must go back to the House of Representatives for reconciliation with the bill they passed in late February, it is a...more

Littler

$1.9 Trillion COVID Relief Package on Track to Become Law

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On March 6, 2021, the U.S. Senate passed its version of President Biden’s “American Rescue Plan” by a vote of 50-49 (Vice President Kamala Harris was prepared to cast a tie-breaking vote in favor of the bill).  All Senate...more

Fisher Phillips

House Passes American Rescue Plan; Next Stop, The Senate

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In the early morning hours of Saturday, February 27, the U.S. House of Representatives passed President Biden’s $1.9 trillion latest COVID-19 stimulus bill, containing a slew of employment-related initiatives that could have...more

Hogan Lovells

House committees move swiftly to pass COVID-19 relief legislation

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House committees drafted and passed their portions of the $1.9 trillion COVID-19 relief package that Democrats are preparing to pass through budget reconciliation. The reconciliation process will allow Democrats to pass the...more

Bradley Arant Boult Cummings LLP

Alabama Enacts Landmark TCJA Reform/CARES Act Exemptions

On February 12, Gov. Kay Ivey signed into law Act 2021-1, introduced only two weeks before as House Bill 170 (and its counterpart SB 98), and designated three separate acts: (1) the Alabama Taxpayer Stimulus Freedom Act of...more

Foley & Lardner LLP

Understanding the Four Goals of Biden’s “American Rescue Plan”

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President Joe Biden announced his plan for a new COVID-19 relief package on January 20, 2021 - the day he took office. He, along with Democrat leadership, attempted to gain bipartisan support for the legislation, but...more

Cadwalader, Wickersham & Taft LLP

The Consolidated Appropriations Act of 2021

Business Tax Provisions - About-Face on Deductibility of PPP Expenses. The CAA overrules the IRS’s previous guidance denying the deductibility of expenses relating to forgiven PPP loans....more

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #8

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

Fisher Phillips

Biden’s Proposed COVID-19 Economic Rescue Plan Would Lead To Dramatic Workplace Changes

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President-elect Biden has unveiled an ambitious legislative package that would serve to not only provide a third wave of economic stimulus relief to address the impacts of the COVID-19 pandemic but also transform the American...more

Partridge Snow & Hahn LLP

The End of Mandatory COVID-19 Related Leave (For Now)

In a further attempt to alleviate the adverse economic impact caused by the COVID-19 pandemic, on December 21, 2020, Congress passed a $900 billion stimulus bill, which the President signed into law on December 27, 2020....more

McDermott Will & Emery

COVID-19 Stimulus Package Significantly Expands CARES Act Employee Retention Tax Credits

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The Consolidated Appropriations Act, 2021, which became law on December 27, 2020, makes significant changes to the employee retention tax credits available under the Coronavirus Aid, Relief and Economic Security Act (the...more

Brownstein Hyatt Farber Schreck

Employee Retention Tax Credit – Updates and What to Know for Your Business

On Dec. 20, 2020, the House and Senate passed H.R. 133, the Consolidated Appropriations Act of 2021 (“CAA”), which includes a significant expansion of the Employee Retention Tax Credit (“ERTC”) through June 30. The ERTC...more

Brownstein Hyatt Farber Schreck

Have You Thought About ... What the Limited Extension to the FFCRA Means to Employers?

The Families First Coronavirus Response Act (“FFRCA”) ended by its terms on Dec. 31, 2020. Although many expected the FFCRA protections to be extended due to the continuing pandemic, only a portion of the FFCRA was extended...more

Fisher Phillips

Employer Considerations For Determining Whether To Continue Providing FFCRA Leave After Law’s Expiration

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After much heated negotiation in passing Stimulus 2.0, Congress reached a compromise on employee COVID-19 leave, allowing the leave requirements of the Families First Coronavirus Response Act (FFCRA) to expire on December 31,...more

Parker Poe Adams & Bernstein LLP

Coronavirus Relief Bill Includes Variety of Changes Impacting Employers

On December 27, President Donald Trump signed the latest coronavirus relief package into law. Among the more than 5,000 pages of text are three provisions that will impact employers in 2021....more

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