Qualified Disaster Tax Relief – Retirement Plans and Employee Retention Credits (US)
Besides the COVID-19 pandemic, 2020 has also had its share of other disasters, including hurricanes, floods and fires.
The Consolidated Appropriations Act, 2021 (the “CAA”) has provisions that are designed to provide tax relief for individuals and employers who have been adversely affected by one of the numerous federally declared “Qualified Disasters”.
These provisions of the CAA are found in Sections 301 through 306 of Title III, of Division EE, which is called “The Taxpayer…