IRS Clarifies Partial Plan Termination Relief Under 2020 Legislation
By EsqSocial Corporation 04/05/21
On April 27, the Internal Revenue Service (“IRS”) issued informal guidance on partial plan terminations as part of the COVID-related tax relief provided under The Taxpayer Certainty and Disaster Tax Relief Act of 2020 (the “Relief Act”), part of the Consolidated Appropriations Act of 2021. The Relief Act was intended to provide a measure of relief for qualified plan sponsors that experienced layoffs due to COVID-19....
By: Groom Law Group, Chartered