On December 27, 2020, the Consolidated Appropriations Act of 2021 (the “CAA”) passed into law. The CAA includes long-anticipated measures in response to the COVID-19 pandemic and resulting economic crisis. The CAA supplements and extend measures enacted earlier this year, including the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the Families First Coronavirus Response Act (the “FFCRA”) and the Paycheck Protection Program Flexibility Act of 2020 (the “PPPFA”).
The following are links to plain-language summaries of the core elements of the CAA, and related agency guidance, that are applicable to employers:
- Extension of CARES Act Unemployment Provisions
- Treatment of FFCRA COVID-19 employee leave requirements
COVID-Related Tax Relief:
- Payroll Tax Deferral Extension
- Employee Retention Credit
- Paycheck Protection Act – Funded Expense Deductibility
- Paycheck Protection Act Extension
Read more in our latest COVID-19 Alert.