President Trump Signs COVID-19 Relief Package
Published: 12.28.2020
President Trump has signed a bill, passed by Congress on December 21, to fund the government and provide economic relief in response to the coronavirus pandemic.The bill expands the Coronavirus Aid, Relief and Economic Security Act's Paycheck Protection Program to cover all nonprofit organizations. The package also extends the refundable employer payroll tax credit for paid sick and family leave through March 2021, although the Families First Coronavirus Response Act paid sick and family leave obligations, which are due to expire at the end of this year, were not extended.
Other workplace provisions include:
• Allowing workers to roll over unused funds in their health and dependent care flexible spending accounts.
• Expanding employer-provided education assistance to include student loan repayment.
• Providing employer tax credits for paid family and medical leave.
• Extending the employee retention tax credit.
• Delaying deferred payroll tax payments.
Source: SHRM HR Daily Alert
