IR-2021-128, June 11, 2021 The Internal Revenue Service today posted two new, separate sets of frequently-asked-questions (FAQs) to assist families and small and mid-sized employers in claiming credits under the American Rescue Plan (ARP).
IRS offers guidance on American Rescue Plan tax credits accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
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Under the American Rescue Plan Act of 2021 ( ARPA ), a 100% COBRA subsidy is available to qualified beneficiaries who lose coverage due to an involuntary termination of employment or reduction in hours. The subsidy is available for the period of April 1, 2021 through September 30, 2021, if the individual is not eligible for other group health plan coverage or Medicare. For more information, please refer to our prior Client Alerts on the new COBRA subsidy which may be accessed here and here.
On May 18, 2021, the IRS issued Notice 2021-31, which provides helpful guidance on a number of issues in the form of 86 FAQs. Part I of our series of Client Alerts on the new COBRA subsidy (which may be accessed here) addressed the following issues:
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A Washington County man who said he was fired after calling off sick with covid-19 symptoms last year is suing his former employer.
David Matyjasek, of Washington, filed the federal complaint on Tuesday against Kellington Protection Services, of Robinson, alleging a violation of the Family First Coronavirus Response Act.
A message left with Kellington on Tuesday evening was not immediately returned.
Matyjasek said in the complaint that he was hired as the director of operations for Kellington in 2013.
But in March 2020, he began to experience covid-19 symptoms, including a fever. Matyjasek visited his doctor, who told him to quarantine for 14 days.
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The American Rescue Plan Act (ARPA), which became law on March 11, 2021, extends the incentive to employers to provide paid time away from work for COVID-related reasons. This article examines this law.
In response to the pandemic, Congress enacted the FFCRA, under which employers of fewer than 500 employees (“qualified employers”) were required to provide up to two weeks of paid leave under the Emergency Paid Sick Leave Act (EPSL) and up to 10 weeks of paid family leave under the Emergency Family and Medical Leave Act (EFMLA) to employees who were unable to work for certain COVID-19 related reasons. The FFCRA provided employers with a corresponding payroll tax credit which offset the employer’s costs for providing the paid leave.