IRS Notice 2021-31
On May 18, 2021, the IRS issued Notice 2021-31. The notice provides guidance on tax breaks under the 2021 American Rescue Plan Act (ARPA) for continuation health coverage under COBRA.
We realize it’s a bit overwhelming, but our senior legal counsel, Michelle Barki, summarized the main points covered in the 41-page document. So don’t be scared; we are here to help!Notice 2021-31 Main Points:
1. Employers may require attestations to AEI status.Any proof of eligibility records should be kept.
2. Involuntary Termination, like ARRA, is broadly interpreted based on facts and...