On May 4, 2020, the Internal Revenue Service released much-anticipated guidance related to implementing the retirement plan aspects of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) enacted on March 27, 2020, see our article here. Although the questions and answers fall short of resolving all open questions, they provide helpful insight
Allan S Friedland
IRS Extends the Form 5500 Due Dates for Some Employee Benefit Plans
By Suzanne G. Odom, Allan S Friedland & Kathryn W. Wheeler, CEBS on
Posted in Employee Benefits
The Internal Revenue Service has broadened the filing and payment relief provided under prior guidance. IRS Notice 2020-23 postpones, among other relief, the due date for employee benefit plans required to make the Form 5500 series filings due on or after April 1, 2020, and before July 15, 2020. Plans with original due dates or…
The CARES Act Effect on Retirement Plans
By Suzanne G. Odom & Allan S Friedland on
Posted in Employee Benefits
On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The Act largely stabilizes fragile industries, provides loans and tax credits to businesses tied to their retaining their workforces during these uncertain times, and offers additional unemployment relief to employees hurt by COVID-19. But the CARES Act…