Posts Tagged ‘COVID-19’
Interest on all student loans held by the Federal Government Waived due to COVID-19
Summary of Keypoints Relief measure announced: Interest on all student loans held by the Federal Government was waived due to COVID-19, providing temporary financial relief to borrowers. Eligibility confirmation: Borrowers are instructed to contact their loan servicer online or by phone to confirm whether their loans qualify for the interest waiver. Finding your loan servicer:…
Read MoreComprehensive List of Private and Public Loans, Grants, and Financial Support for Small Businesses
Summary of Keypoints Purpose of resource: The post highlights financial relief efforts launched in response to COVID-19 by federal, state, local governments, and private organizations to support small businesses. Compiled by Gusto: Gusto created a comprehensive, centralized list of available loans, grants, and financial support programs. Scope of assistance: The resource includes both public and…
Read MoreNew Guidance from the DOL on Administering FFCRA Leaves
Summary of Keypoints Source of guidance: The U.S. Department of Labor released a Questions and Answers document to help employers administer FFCRA leave provisions ahead of the April 1 implementation date. Employee eligibility limits: FFCRA leaves are not available to employees who are furloughed, have reduced hours, or work at locations that are closed due…
Read MoreFor Individuals: New COVID-19 Federal Assistance – CARES Act
Summary of Keypoints Overview of the CARES Act for individuals: The CARES Act, enacted on March 27, 2020, provides economic relief aimed at helping individuals and families manage the financial effects of the COVID-19 pandemic, with provisions summarized as guidance available at the time. Retirement plan relief: Individuals may take coronavirus-related retirement plan distributions of…
Read MoreBusiness Tax provisions
Summary of Keypoints Employee Retention payroll tax credit: Employers may claim a refundable payroll tax credit equal to 50% of qualified wages, up to $10,000 per employee, if business operations were disrupted by COVID-19 shutdowns or gross receipts declined by at least 50% compared to the same quarter in the prior year, with different wage…
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