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Options for Disaster Relief Assistance for Employees

Christopher P. Woehrle reviews different types of disaster relief assistance.

The Coronavirus Aid Relief and Economic Security (CARES) Act has added to our tax lexicon COVID-19 distributions and loans. Because loans must be repaid and COVID-19 distributions are exempt only from the premature distribution penalty and not income tax, they’re imperfect solutions for employees. Employees at well-capitalized firms may have better options to receive financial assistance than borrowing or getting COVID-19 distributions. Specifically, does an employer have either a disaster


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