The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) offers tax relief which may be beneficial to entities taxed as partnerships. These provisions include (i) retroactive relief for entities taxed as partnerships by temporarily increasing the interest deduction limitation from 30% to 50% of adjusted taxable income, and (ii) clarifying that “qualifying investment property” …
Employee Benefit Provisions in the CARES Act Provide Employer and Participant Relief
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act became law on March 27, 2020. The Act includes important provisions that impact employer sponsored benefit plans. Consistent with its name, the Act provides participants enhanced access to retirement plan money, provides employers relief regarding defined benefit pension plan funding, aids employees by requiring payment of …