On May 18, 2021, the IRS published Notice 2021-31, which includes 86 FAQs relating to the ARPA COBRA subsidies (which the IRS refers to as premium assistance) and tax credits. Among other things, the FAQs provide clarifications and examples relating to the meaning of reduction in hours and involuntary termination, the certification and documentation of premium assistance eligibility status, and the process and forms to claim the related tax credits.
In addition to our summary of the notice, our parent company at NFP will be hosting a special webinar on Monday, May 24, 2021, at 3:00 p.m. ET, to discuss the guidance in detail. Please visit the link below to register.
Mark Bailey, Jr. is the Senior Marketing Manager @ The Bailey Group. Before joining the company, Mark was a production assistant on the tv show Glee and an on-air talent on 95.1 WAPE. He has over 10 years of experience in the insurance and corporate benefits space. Mark is an avid Jacksonville Jaguars fan and loves to spend his free time building custom mechanical keyboards.