COVID-19 Tax News & Firm Updates | Cg Tax, Audit & Advisory

25 May

IRS Guidance on ARPA COBRA Provision

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May 24, 2021

The IRS has issued guidance on the American Rescue Plan Act provision that provides temporary premium assistance for COBRA continuation coverage and a credit to entities that maintain group health plans. The law provides...

23 Apr

Coronavirus & Nonprofits, SBA

NJEDA Announces Small Business Emergency Assistance Grant Phase 4

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April 23, 2021

The New Jersey Economic Development Authority (NJEDA) announced another phase of its Small Business Emergency Assistance Grant Program, providing grants up to $20,000 to small and medium-sized businesses (nonprofits included) negatively impacted by the...

17 Apr

Federal Tax, Helpful COVID-19 Links

IRS Addresses Questions for Second EIP

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April 15, 2021

The IRS has made three rounds of Economic Impact Payments (EIPs) to eligible individuals to help mitigate the financial effects of the COVID-19 pandemic. What happens if you lose your payment or it’s stolen?...

12 Apr

Coronavirus Healthcare, Coronavirus Tax Filing & Payment, Federal Tax

2020 Premium Tax Credit Update

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April 12, 2021

The IRS recently suspended a requirement to repay excess advance payments of the 2020 Premium Tax Credit (PTC). The action is a result of the American Rescue Plan Act, which was enacted on March...

09 Apr

Employer, Families First Coronavirus Response Act

From FFCRA to ARPA: The Latest on Paid COVID-Related Leave

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April 5, 2021

The Families First Coronavirus Response Act (FFCRA) was among the first major laws enacted in response to the COVID-19 pandemic. It allows employees paid sick time and paid family leave time to care for...

29 Mar

Coronavirus Stimulus Bill

Make the Most of the Employee Retention Credit

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March 25, 2021

The Employee Retention Credit (ERC), which was created to encourage employers to keep their workforces intact during the COVID-19 pandemic, has been with us for a year. But questions about it remain for many...

20 Mar

Coronavirus Stimulus Bill, Federal Tax

Third Round of EIPs

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March 18, 2021

The IRS has begun sending the third round of Economic Impact Payments (also sometimes referred to as recovery rebates) to eligible taxpayers via direct deposit or paper checks. The IRS calls these payments “EIP...

17 Mar

Coronavirus Stimulus Bill

The American Rescue Plan Act Provides Sweeping Relief Measures for Eligible Families and Businesses

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March 16, 2021

On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA). The $1.9 trillion law is intended to provide far-reaching relief from the economic and other repercussions of the ongoing...

16 Mar

Coronavirus Healthcare, Employer

The Latest on COVID-Related Deadline Extensions for Health Care Benefits

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March 15, 2021

The U.S. Department of Labor (DOL) recently issued EBSA Disaster Relief Notice 2021-01, which is of interest to employers. It clarifies the duration of certain COVID-19-related deadline extensions that apply to health care benefits...

11 Mar

Coronavirus Stimulus Bill

The American Rescue Plan Act has passed: What’s in it for you?

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March 11, 2021

Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic that has haunted the country for the last year. President Biden is expected to sign the 628-page...

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