Consolidated Appropriations Act, 2021
On December 27, 2020, the Consolidated Appropriations Act, 2021 was signed into law. This new legislation includes the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (Act), which provides a breadth of benefits to businesses designed to address the economic fallout from the pandemic.
New IRS Restrictions on PPP Loans
Businesses who received PPP loans may receive forgiveness of the full principal amount of the loan up to an amount equal to eligible expenses paid or incurred during the covered period.
How Does the CARES Act Impact 401(k) Plans?
With the recent passing of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, there are sure to be a lot of questions in what this means for your organization. One area the CARES Act specifically addresses is around retirement plans. We’ve compiled a few FAQs below to help you understand these provisions and determine next steps.