News & Analysis as of

Qualified Disaster Relief Payments Coronavirus/COVID-19

Morgan Lewis - ML Benefits

Code Section 139 Relief Period Scheduled to End: What Employers Need to Know

As the Code Section 139 relief period is scheduled to end soon along with the end of the COVID-19 national emergency, employers that assisted employees with personal expenses attributable to the COVID-19 pandemic should...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Stimulus acts allows disaster distributions

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

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

U.S. and Puerto Rico Issue Rules on Non-COVID-19 Disaster Relief for Retirement Plans

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

Bowditch & Dewey

2020 End of Year Tax Planning for Businesses

Bowditch & Dewey on

As the 2020 year draws to a close, businesses should review the tax-related provisions adopted in the CARES Act and related IRS guidance with their tax advisers: EMPLOYER REFUNDABLE CREDIT AND PAYROLL TAX DEFERRAL: -...more

PilieroMazza PLLC

False Claims Act Implications for PPP and Disaster Relief Loans: What Small Businesses Should Be Ready For

PilieroMazza PLLC on

With its chaotic rollout, conflicting regulations, and breakneck disbursements, the Paycheck Protection Program (PPP) is primed to create a wave of litigation. This includes actions taken under the False Claims Act (FCA),...more

PilieroMazza PLLC

[Webinar] False Claims Act Implications for PPP and Disaster Relief Loans: What Small Businesses Should Be Ready For - July 29th,...

PilieroMazza PLLC on

With its chaotic rollout, conflicting regulations, and breakneck disbursements, the Paycheck Protection Program (PPP) is primed to create a wave of litigation. This includes actions taken under the False Claims Act (FCA),...more

Groom Law Group, Chartered

Thinking Outside the Box to Help Employees During COVID: Section 139 Tax-Free Reimbursements

In the face of the unprecedented COVID-19 pandemic, many employees may experience financial hardship. For example, they may incur unexpected expenses as a result of COVID-19, including being quarantined or under a stay at...more

Sheppard Mullin Richter & Hampton LLP

COVID-19 Related Expenses

Businesses, employees, and other taxpayers are incurring new and often significant expenses as they adapt and respond to the changes brought on by the COVID-19 pandemic. Several tax provisions may help to mitigate the impact...more

BakerHostetler

FAQs: Section 139

BakerHostetler on

Q: In addition to the CARES Act and other provisions of employee benefit plans described below, what other forms of hardship assistance are employers considering in order to support their employees who are facing health and...more

Davis Wright Tremaine LLP

What Employers Should Know About Creating Leave-Sharing Programs and Qualified Disaster Relief for Employees Affected by COVID-19

As more employees face financial hardship due to COVID-19, many employers are exploring additional options available for providing paid leave and other financial relief. This advisory provides a high-level summary of the...more

Faegre Drinker Biddle & Reath LLP

Tax Exemptions and Implications of Employee COVID-19 Hardship Payments

Employers providing support to employees during the COVID-19 pandemic can do so without triggering tax requirements in many cases — but executives seeking to return compensation to the company to aid employees should be...more

Mintz - Employment Viewpoints

Employer-Funded, Tax-Free Disaster Relief Payments Available to Employees

A timely and robust response to the COVID-19 virus demands the attention and resources of, and action by, federal and state regulators, employers, and individuals alike. The stakes could not be higher. State and local...more

Dorsey & Whitney LLP

What All Employers Should Know About Disaster Relief Funds to help with COVID-19

Dorsey & Whitney LLP on

The COIVD-19 pandemic is placing new and unprecedented demands on both taxable and tax-exempt employers and their employees. One option many employers may not have previously considered is the use of a tax-exempt employee...more

Nilan Johnson Lewis PA

Employers & Businesses: COVID-19 Disaster Assistance Payments are Exempt from Tax

The President declared a national emergency in connection with the COVID-19 pandemic triggering Section 139 of the Internal Revenue Code. Thus, disaster assistance/relief payments are not taxable to the recipients if they...more

Holland & Hart - Employers' Lawyers

Providing Disaster Relief Payments or Charitable Assistance to Employees During COVID-19

Employers may provide disaster relief payments and/or charitable assistance to employees in several ways. The following includes brief descriptions of each scenario in the context of the COVID-19 pandemic and corresponding...more

Poyner Spruill LLP

Relief Storm: Providing Tax-Free Benefits During the COVID-19 Emergency

Poyner Spruill LLP on

The landscape for employers has been changing quickly in the wake of COVID-19. Many employers are adapting to new ways of working and looking for ways to support employees with living and working through the COVID-19...more

Snell & Wilmer

Tax-Favorable COVID-19 Pandemic Relief for Employees and Employers Covered by Section 139 Programs

Snell & Wilmer on

With life upended for many employees during the COVID-19 pandemic, we want to highlight one way for employers to offer potential tax-favorable financial relief: implementing a disaster relief program under Section 139 of the...more

Foley & Lardner LLP

Employer Sponsored Foundation for Coronavirus Disaster Relief and Implications for Tax Planning

Foley & Lardner LLP on

As the COVID-19 pandemic continues, businesses may consider having their affiliated company foundations take the lead on providing assistance to affected employees and their families. This is permitted, but companies must...more

Cole Schotz

Coronavirus – A Few Planning Points For Individuals And Business Owners

Cole Schotz on

With the worldwide spread of coronavirus, this is an unprecedented and unsettling time. Our health care systems are overwhelmed. Markets have been upended. Social distancing and self-quarantine are terms and practices we...more

Fox Rothschild LLP

How To Help Your Employees With Tax Advantageous Hardship And Disaster Grants

Fox Rothschild LLP on

During this unprecedented crisis, for-profit corporations have strategic options to assist their workers by providing deductible hardship and disaster grants that are tax-free to employees. Hardship and disaster grants...more

Sullivan & Worcester

Nontaxable Payments to Employees? A New Way to Help Employees in the Age of COVID-19

Sullivan & Worcester on

On March 13, 2020, the President issued a determination under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (the “Stafford Act”). A consequence of that action is that payments from employers to employees...more

Parker Poe Adams & Bernstein LLP

Disaster Relief Payments Exempt From Taxation

Millions of Americans may potentially benefit from a disaster relief tax exemption following a declaration of a national emergency by President Donald Trump. On March 13, President Trump issued an emergency declaration in...more

Amundsen Davis LLC

Tax Breaks For Qualified Disaster Relief Payments To Employees

Amundsen Davis LLC on

You have dedicated employees that continue to courageously and diligently work the “front lines” during this time. Or, perhaps you’ve had to furlough or issue temporary layoffs to employees and you want to find some way to...more

Jackson Walker

U.S. Government Provides Additional Relief and Tools to Aid Employers and Employees During COVID-19 Pandemic

Jackson Walker on

More Relief Provided Late on Friday - On March 20, 2020, a joint news release issued by the Internal Revenue Service, the U.S. Treasury Department, and the U.S. Department of Labor announced regulations to be issued this...more

Nutter McClennen & Fish LLP

Providing Charitable Hardship Payments to Employees During COVID-19

COVID-19 is presenting novel challenges for employers across the globe. Last week, we issued a general advisory that provides guidance to employers on how to navigate these challenges. One issue facing employers is how to...more

27 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide