American Rescue Plan Act

On Thursday, March 11th, President Biden signed the American Rescue Plan Act into law. The newly enacted law includes credit updates to Employee Retention Credit, FFCRA and COBRA.

Employee Retention Credit (ERC) is now available through the end of the year! To date we have saved clients over $37 Million. Revenue decrease is NOT the only qualifier. Was your organization more than nominally impacted due to government mandate related to COVID? To Schedule a 15 Minute Retention Credit Conversation Contact: Allison Anderson:

FFCRA The voluntary offering of FFCRA Leave has been extended from April 1 to September 30, 2021. The IRS is continuing to provide guidance and we are working on system updates. Stay tuned for an update.

COBRA The newly enacted law requires that those who are entitled to COBRA coverage any time between 4/1/2021 through 9/30/2021 due to a loss of coverage under a group health plan resulting from involuntary loss of employment or reduction of hours, be provided with a full (100%) subsidy for their COBRA premium due within this period. Eligible individuals may not be charged for a COBRA premium within this period, and the Employer can recover the government’s premium subsidy through quarterly employment tax credits. Stay tuned for an update on how to apply the tax credits once the IRS releases further guidance.