HARRISBURG, Pa. (WTAJ) — Governor Tom Wolf announced an initial distribution of $51 million of funding from CARES Act funding to support child care providers around Pennsylvania. Distributed in partnership with the General Assembly, this initial funding will reach nearly 7,000 child care ...
To apply for CARES Act funding, a school just has to fill out theCertificate of Funding and Agreement. However, there are stipulations for what the money can be used for. 50% of the money granted to an institution must be given to students to combat the impact of coronavirus, and can b...
Highlights of key provisions of the CARES Act which will impact both defined contribution (DC) and defined benefit contribution (DB) plans.
The CARES Act allocates a massive amount of funding to combat COVID-19 and to support the nation’s health care system during the public health emergency. Of the billions allocated, the act provides $150 billion to states and $117 billion to hospitals during the health crisis. The act incr...
The CARES Act also extends by 1 year the period over which distributions must be made due to an employee’s or IRA owner’s death. DEFINED BENEFIT PLAN RELIEF Employers with defined benefit plans may delay contributions otherwise due in 2020 until January 1, 2021, and may elect to use the...
With school closures and the loss of millions of jobs, many families are experiencing food insecurity. To address this concern, the CARES Act provides additional funding for the following programs: Child Nutrition– available through k-12 schools ...
As stated in Section 2(15) of the Income Tax Act, “charitable purpose” includes providing assistance to the impoverished by any means, including education, medical care, or other objects of public value. Related Schemes: PM CARES Fund Objectives ...
President Trump has signed the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act,” which includes several provisions that impact employers. These measures are largely aimed at stimulating the economy, and focus on assistance for small businesses, industries that have suffere...
On March 27, 2020, the House of Representatives passed the CARES Act by voice vote. President Trump signed the bill into law that same day.
eligible for unemployment benefits. The new law also expands the scope of individuals eligible for benefits, including those with insufficient work history, independent contractors, and the self-employed. Additionally, the Act provides temporary federal funding to states for short-time compensation ...