Federal And State Government Updates

The Latest AALU/GAMA Policy Analysis

COVID Small Business Loans
What Employers Need to Know
Read Here

COVID Small Business Loans Questions
Answers for Business Owners
Read here

Sick Leave for COVID
What Small Business Employers Need to Know
Read here

Sick Leave for COVID Employees
What Employees of Small Businesses Need to Know
Read here

Sick Leave for COVID Questions
Answers for Small Business Employers
Read here

Stimulus Bill Analysis
Congress is circling in on passage of a third significant legislative package in the wake of the COVID-19 outbreak, designed to stimulate the U.S. economy, provide aid to struggling American workers, and shore up distressed businesses. Read a brief overview from our public policy team on the major parameters of these three initiatives here.

Small Business Loan Information
As part of the “Phase One” package of aid signed into law on March 6, 2020, the Small Business Administration (SBA) will provide an estimated $7 billion in low-interest disaster loans to small businesses and non-profit organizations that have been impacted by financial losses due to the coronavirus outbreak. Learn more about this program and how to access these loans for yourself or your clients in need in this policy brief.

Family and Medical Leave Analysis
“Phase Two” of the federal stimulus, enacted on March 18, 2020, includes a requirement on employers to provide paid sick leave and partially paid family and medical leave to employees. Click here for details on whether and how those requirements could work for you personally or for those you serve – and how to access those tax credits.

Individual Relief Information
The federal government has taken a host of actions to provide relief to people affected by the health and economic effects of COVID-19. This memo provides a guide for you, your staff, and your clients to access this help.


News and Updates

This content does not reflect the opinion of AALU & GAMA, our members, or our partners. The articles are curated from outside news sources and are intended for daily news updates on industry and policy matters.

Updated March 2020

March 30
The Wall Street Journal: America’s Make-or-Break Week | Read here
Journal of Accountancy:
Gift and GST Returns Added to Postponed Tax and Filing Deadlines | Read here
WealthManagement:
Struggling Americans Can Tap 401Ks With Coronavirus Bill | Read here
MarketWatch:
 Coronavirus Stimulus-Package Tax Relief: Withdraw $100K from your IRA — and Repay in 3 years with Zero Tax Liability | Read here
POLITICO:
The Mega-Bailout Leaves 4 Mega-Questions | Read here

March 27
401K Specialist: Cares Act RMD, Early Withdrawal Waivers: A Closer Look | Read here
The Wall Street Journal:
New Details from the IRS on July 15 Tax Deadline, Audit Relief | Read here
POLITICO: 
Insurers Scramble To Avoid 9/11-Style Coronavirus Backlash | Read here
WealthManagement:
States Offer Regulatory Relief as the Coronavirus Spreads | Read here
HuffPost: Opinion:
COVID-19 Is the Best Argument Yet for A Wealth Tax | Read here
WealthManagement:
FSI Pushes to Delay Reg BI | Read here

March 26
The New York Times: Fine Print of Stimulus Bill Contains Special Deals for Industries | Read here
POLITICO: How The $2 Trillion Deal Came Together and Nearly Fell Apart | Read here
ThinkAdvisor: Insiders’ Views on What’s to Come in Fixed Income, Economy | Read here
Reuters:
After Senate Vote, Massive U.S. Coronavirus Bill Moves to The House | Read here

March 25
ICYMI: IRS: Releases FAQs on Filing and Payment Deadlines | Read here

March 20
401K Specialist: More Calls for Congress to Provide COVID-19-Related Retirement Plan Relief | Read here
ThinkAdvisor: Ways to Stress Test Your Business for Coronavirus Impact | Read here
Bloomberg Tax: IRS Limits Foreign Tax Credits Companies Can Claim in Rules (3) | Read here
PlanSponsor:
Plan Fiduciaries to Pay for Failure to Remit Participant Loan Repayments | Read here

March 18
CNN: What a 20% Unemployment Rate Would Actually Mean for Our Politics | Read here
Financial Advisor: IRS Issues Guidance on Deferring Tax Payments | Read here
Financial Advisor: The Future of Opportunity Zone Funds Could Be in Renewable Energy | Read Here

March 17
The Washington Post: White House Expresses Support for Immediate Cash Payments to Americans as Part of Stimulus Package | Read here
Pensions & Investments: SEC Finalizes Rule to Simplify Variable Annuity Prospectuses | Read here
POLITICO: Fed Wages Furious Battle to Unclog Financial Markets | Read here
PlanAdviser:
Responding to Coronavirus, SEC Eases Certain Fund and Adviser Requirements | Read here

March 16
ThinkAdvisor: Social Security Offices to Close Due to Coronavirus | Read here

March 12
Financial Advisor: The Market Is Tanking, Time For Advisors To Communicate With Clients And Media | Read here


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