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The Consolidated Appropriations Act 2021 Provides COVID Relief from Partial Plan Terminations

By Audit, Employee Benefit Plan Audits, Insights

The Consolidated Appropriations Act of 2021 (CAA), signed into law on December 27, 2020, includes a temporary rule providing COVID-related relief from certain partial plan terminations for employee benefit plans. Under this provision, a plan is not treated as having a partial plan termination during any plan year which includes the period beginning on March 13, 2020, and ending on March 31, 2021, if the number of active participants covered by the plan on March 31, 2021, is at least 80 percent of the number of active participants covered by the plan on March 13, 2020.

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Business Insider Features Torie Barry’s Insight on Tax Benefits for Companies that Offer Childcare

By Employee Benefit Plan Audits, News, Professional Services

Business Insider recently spoke with Torie Barry, a partner in Bennett Thrasher’s Tax practice, about ways companies can benefit from providing their employees with childcare options during the coronavirus pandemic. She explained how offering this service is not only a great retention tool as it shows a company is willing to invest in its employees, but it also comes with tax benefits.

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