As of this writing, the latest stimulus package is pending in Congress. Return here for details on the tax impact after the legislation is signed into law.
This massive COVID-19 relief/stimulus legislation signed into law in March addresses retirement plans, charitable giving, payroll taxes, business losses and more.
Under the Families First act, employers must provide covered employers paid leave in certain situations. A corresponding tax credit is available to help employers fund the additional cost.
The Further Consolidated Appropriations Act, 2020,
extends certain tax provisions and introduces the
Setting Every Community Up for Retirement
Enhancement (SECURE) Act.