In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided a six-month automatic payment suspension on federal student loans through September 30, 2020. In August, the president signed a memorandum to extend federal student loan relief through December 31, 2020. Continue reading “Student Loan Relief Extended Through End of Year”
On August 8, 2020, the president issued an executive order to allow the deferral of certain payroll taxes during the last four months of 2020, and the IRS recently provided related guidance. This has implications for both employers and employees. Here’s a brief summary of the issues. Continue reading “Temporary Payroll Tax Deferral: What You Need to Know”
Here are some bullet points that came across my desk today. I hope they help make some senses out of the passage of the recent Acts.
Highlights of the SECURE Act include:
Age restrictions on contributions to a Traditional IRA have been eliminated
Highlights of the CARES Act include:
Five Key Benefits of the CARES Act for Individuals and Businesses
The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains many provisions. Here are five that may benefit you or your business. Continue reading “Five Key Benefits of the CARES Act for Individuals and Businesses”
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. This $2 trillion emergency relief package represents a bipartisan effort to assist both individuals and businesses in the ongoing coronavirus pandemic and accompanying economic crisis. The CARES Act provisions for retirement plan relief for individuals under federal tax law are discussed here. Continue reading “CARES Act: Retirement Plan Relief Provisions”
