$50,000 in Stimulus Help: Biden Wants To Go Way Beyond Stimulus Checks
There appear to be plenty of extra savings to take advantage of thanks to new tax breaks, credits, and expanded health benefits which could potentially save families up to $50,000.
Perhaps too much attention has been solely focused on the one hundred sixty-three million coronavirusstimulus checks, valued at about $384 billion, that have been disbursed to date.
That’s because there appears to be plenty of other extra savings to take advantage of thanks to new tax breaks, credits, and expanded health benefits which could potentially save families up to a whopping $50,000. Let’s dig in to see how this all adds up.
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The American Rescue Plan Act of 2021 ( ARPA ), which
was signed by President Biden on March 11, 2021, includes
provisions that dramatically and immediately affect compliance with
the continued group health plan coverage requirements of the
Consolidated Omnibus Budget Reconciliation Act of 1985
( COBRA ). In particular, ARPA includes a 100% COBRA
premium subsidy for periods of coverage occurring between April 1
and September 30, 2021. The subsidy is available to qualified
beneficiaries who are eligible for COBRA coverage due to a covered
employee s reduction in hours of employment or involuntary
termination of employment. The subsidy applies not only to federal
What should in-house lawyers spend time discussing with their chief financial officers (CFOs)? What are the most important tax developments affecting businesses today? In this program, we’ll review the key tax issues that impact your business and how you can mitigate risks. We are pleased to be joined by BDO USA’s Associate General Counsel, Charis Runnels.
Topics will include:
Key things to know about potential changes to the tax law/issues to consider with a remote workforce
Risk management – insurance renewals in a hardening market/opportunities for a captive insurer
Doing business in Chicago and the unexpected tax challenges
webinar on the COBRA coverage subsidy under the American Rescue Plan Act of 2021 (ARPA) produced more questions than the presenters could address during the webinar. Below are answers to some of the most common and interesting questions we heard from our audience.