President Donald Trump recently signed into law an emergency stimulus package designed to deliver approximately $900 billion in COVID-19-related aid.The chart below provides an overview of the highlights of the new stimulus package, and how it compares to the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law in March 2020. This will …
Comparing the Two Major COVID-19 Stimulus Packages Read More »
On Sunday, Dec. 27, 2020, President Donald Trump signed into law an emergency stimulus package designed to deliver approximately $900 billion in COVID-19-related aid. This bill was passed by Congress after months of negotiation, and was attached to a $1.4 trillion spending package that will keep the government open for the fiscal year. Notably, this …
The IRS has added or updated more than 80 answers to questions in its series of FAQs on “COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses.” The changes affect questions in all 13 of the subtopics covered by the FAQs. Refundable tax credits are available to businesses for employee paid …
AS IT TURNS OUT, PANDEMICS AND NATURAL DISASTERS both give businesses and communities the same amount of warning: none. In the wake of COVID-19’s disruptions, many spa retailers have been swapping notes to help adapt to a new normal, which has especially affected parents with school-age children. Rachael Pritz, vice president of RB Pool and …
Many employee benefits are subject to annual dollar limits that are periodically updated for inflation by the IRS. The following commonly offered employee benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs); Health flexible spending accounts (FSAs); 401(k) plans; and Transportation fringe benefit plans. The IRS typically announces …
While any workers’ compensation claims can result in costly ramifications for your organization, one category of claim in particular—known as a “mega claim”—has the potential to carry significant consequences. True to its name, a mega claim is characterized as an exceptionally large claim—typically totaling $3 million or more in incurred losses. In the realm of …
New Study Finds That Mega Claims Are on the Rise Read More »
The employee benefit landscape is constantly evolving, and business owners must keep pace. No longer is the traditional offering of basic medical and ancillary products providing employers with the competitive edge. In the battle to attract, retain and engage employees, data driven long-term strategic plans provide win/win opportunities for both employers and employees alike. A …
Scope of Employee Benefits Changing to Meet Demand of Competitive Employers Read More »
Owning and operating a construction company in today’s world is remarkably challenging,” said Jeff Chronister, Accredited Advisor of Insurance (AAI) with Ollis/Akers/Arney. He cites aggressive competition, rapidly changing economic conditions, limited labor force and the evolving expectations of employees over the past few decades. “Owners have to wear multiple hats. Sometimes they have to be …
Construction Industry Changes Require Dynamic Risk Management Read More »
On Wednesday, Oct. 21, 2020, the Centers for Disease Control and Prevention (CDC) clarified what “close contact” means as it relates to COVID-19-prevention guidance. Previously, the CDC defined close contact as spending 15 straight minutes within 6 feet of another person. Now, the organization redefined the term to mean a total of 15 minutes within …
CDC Redefines “Close Contact” Under COVID-19 Guidance Read More »
The Small Business Administration (SBA) and the U.S. Department of Treasury (Treasury) recently released a simpler Paycheck Protection Program (PPP) Loan Forgiveness Application Form 3508S and instructions. This updated, simple two-page application is for borrowers of $50,000 or less, and is not for use by borrowers who received PPP loans totaling $2 million or more …
SBA Announces Simpler PPP Loan Forgiveness for Smaller Loans Read More »
