Earlier this month, the IRS announced that it had extended deadlines for filing federal income tax returns and making tax payments due to the COVID-19 pandemic, which had a small effect on benefit plans. The IRS has since amplified this relief through Notice 2020-23 and provided additional relief that is more significant for benefit plans.
This past week, the Pension Benefit Guaranty Corporation (“PBGC”) announced it had extended deadlines for upcoming premium payments and other filings due to the COVID-19 pandemic. The PBGC’s announcement came after the IRS extended its deadlines to July 15, 2020. Under the PBGC’s disaster relief policy, when the IRS announces ...
Most small businesses are aware of the loans backed by the Small Business Administration (“SBA”) to help maintain cash flow and retain workers, specifically the Paycheck Protection Program (“PPP”). While most of the media, and our prior blog post, focused on how to apply for these loans and the fact the loan is forgivable if used for ...
Under the FMLA, an employer is required to continue an employee’s group health plan coverage at active employee rates during the length of the FMLA leave. Therefore, it came as no surprise that the DOL temporary regulations that were released yesterday on the Emergency Paid Sick Leave Act (“EPSLA”) and the Emergency Family Medical Leave ...