- Round 2 – Covid-19 Relief Bill
It is unclear what President Trump accomplished by delaying the signing of the bill. While the bill is not perfect but it will do an enormous amount of good for the millions of Americans struggling across the country who need help NOW.
- Families First Coronavirus Response Act (FFCRA)
FFCRA provides relief for employers and employees to take care of COVID-19 related needs. Under the act the employee can get up to 12 weeks of paid leave subject to a maximum if certain conditions are met. Read on to know more if you qualify. The credit is applicable for leave taken and wages paid until March 31, 2021.
- Relief for eligible taxpayers who need funds from IRAs and other retirement plans
If you or your dependent(s) have been diagnosed with COVID-19 or SARS-CoV-2 or experience financial consequence as a result of being unable to work, you may be eligible for a distribution from a retirement account of up to $100,000 per person.
- Section 83(b) – Is it for you?
Section 83(b) election is available to Restricted Stock Awards (RSA). Section 83(b) election is an election to notify the IRS that you wish to be taxed in connection with stock) when it is issued/granted/transferred and not when it vests.
- Employee Stock Purchase plan
Employers offer ESPP, wherein you make contributions to purchase stock at a discount, via deductions in your salary. The accumulated money is then used to buy stock for you. You get to buy the stock at a lower price than the market price.
It is unclear what President Trump accomplished by delaying the signing of the bill. While the bill is not perfect but it will do an enormous amount of good for the millions of Americans struggling across the country who need help NOW.
