March 24, 2020
The IRS is set to issue additional guidance this week concerning the availability of tax credits for leave payments made under the FFCRA. In addition, the Department of Labor (DOL) has clarified how certain provisions of the law apply.
Forthcoming guidance from the IRS will include the following:
On Wednesday, March 25, The White House and United States Senate reached a deal on a bill that would deliver $2 trillion in government relief to combat the economic and public health impact of the Coronavirus pandemic. If passed, the legislation would be the largest emergency economic aid package in US history.
The package is expected to include $500 billion in loans for distressed companies, $250 billion in direct payments to individuals, and $350 billion in small business loans. The Senate is expected to vote on the deal Wednesday afternoon, with the House expected to receive the bill on Thursday.
As new information is made available regarding the pending stimulus package, we will continue to provide you with updates and analysis.
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September 8, 2023
Tenth Circuit Court of Appeals Hands Down a Big Win for ERISA Preemption After several failed attempts by pharmacy benefit managers (“PBM”) to challenge state laws regulating PBMs, the 10th Circuit Court of Appeals (in Pharmaceutical Care Management Association v. Mulready) handed down a big win for PBMs and, by extension, self-funded ERISA plans, when […]
August 28, 2023
IRS Issues Affordability Percentage Adjustment for 2024 The Internal Revenue Service (IRS) has released Rev. Proc. 2023-29, which contains the inflation adjusted amounts for 2024 used to determine whether employer-sponsored coverage is “affordable” for purposes of the Affordable Care Act’s (ACA) employer shared responsibility provisions and premium tax credit program. As shown in the table […]