Congress Extends (Again) the COBRA Premium SubsidyBy Kathy Odle In what is becoming a common occurrence, Congress again has extended and modified the COBRA premium subsidy program originally created under the American Recovery and Reinvestment Act of 2009. On April 15, 2010, President Obama signed the Continuing Extension Act of 2010. The Continuing Extension Act extended the deadline for the COBRA premium subsidy program from March 31, 2010 (which was the deadline under the Temporary Extension Act of 2010) to involuntary terminations occurring on or before May 31, 2010. The endless extensions are not over. Pending legislation, the American Workers, State and Business Relief Act of 2010, would extend the COBRA premium subsidy for involuntary terminations through December 31, 2010. This legislation is expected to pass soon. ________________________________________________________________
Circular 230 Notice This advisory contains provisions concerning a federal tax issue or issues. This advisory is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on any taxpayer by the Internal Revenue Service. For information about this statement, contact Sherman & Howard L.L.C. or visit our website at www.shermanhoward.com/PrivacyPolicy/Circular230/ ©2010 Sherman & Howard May 10, 2010 |
|||||