2021 |
117-58 |
Infrastructure Investment and Jobs Act |
80401 |
Private Activity Bonds for Qualified Broadband Projects |
142, 146(g) |
No |
17143, 24272 |
11/15/2021 |
Applies to obligations issued in calendar years beginning after 11/15/2021. |
JCT Report, JCX-25-21, pp. 20-29 and p. 73 |
Analysis of 117-58 §80401 |
2021 |
117-58 |
Infrastructure Investment and Jobs Act |
80402 |
Carbon Dioxide Capture Facilities |
45Q(f), 141(b)(6),142, 146(g) |
No |
17143, 24272 |
11/15/2021 |
Applies to obligations issued after 11/15/2021. |
JCT Report, JCX-25-21, pp. 20-29 and p. 74 |
Analysis of 117-58 §80402 |
2021 |
117-58 |
Infrastructure Investment and Jobs Act |
80501 |
Modification of Automatic Extension of Certain Deadlines in the Case of Taxpayers Affected by Federally Declared Disasters |
7508A(d) |
No |
18572 |
11/15/2021 |
Apply to federally declared disasters declared after 11/15/2021. |
Infrastructure Investment and Jobs Act, page 907 |
Analysis of 117-58 §80501 |
2021 |
117-58 |
Infrastructure Investment and Jobs Act |
80502 |
Modifications of Rules for Postponing Certain Acts by Reason of Service in Combat Zone or Contingency Operation |
7508 |
No |
18570, 18571 |
11/15/2021 |
Applies to any period for performing an act which has not expired before 11/15/2021. |
Infrastructure Investment and Jobs Act, page 907 |
Analysis of 117-58 §80502 |
2021 |
117-58 |
Infrastructure Investment and Jobs Act |
80503 |
Tolling of Time for Filing a Petition with the Tax Court |
7451 |
No |
N/A |
11/15/2021 |
Applies to any petitions required to be timely filed after 11/15/21. |
Infrastructure Investment and Jobs Act, page 908 |
Analysis of 117-58 §80503 |
2021 |
117-58 |
Infrastructure Investment and Jobs Act |
80504 |
Authority to Postpone Certain Tax Deadlines by Reason of Significant Fires |
7508A |
No |
18572 |
11/15/2021 |
Applies to fires for which assistance is provided after 11/15/2021. |
Infrastructure Investment and Jobs Act, page 908 |
Analysis of 117-58 §80504 |
2021 |
117-58 |
Infrastructure Investment and Jobs Act |
80601 |
Modification of Tax Treatment of Contributions to the Capital of a Corporation |
118 |
No |
24324, 24325 |
11/15/2021 |
Applies to contributions made after 12/31/2020. |
Infrastructure Investment and Jobs Act, page 909 |
Analysis of 117-58 §80601 |
2021 |
117-58 |
Infrastructure Investment and Jobs Act |
80602 |
Extension of Interest Rate Stabilization |
430(h); also amends Employee Retirement Income Security Act (ERISA) section 303(h) |
Yes |
17501 |
11/15/2021 |
Applies to any plans years beginning after 12/31/2021. |
Infrastructure Investment and Jobs Act, page 910 |
Analysis of 117-58 §80602 |
2021 |
117-58 |
Infrastructure Investment and Jobs Act |
80603 |
Information Reporting for Brokers and Digital Assets |
6045, 6045A, 6050I, 6724 |
Partially |
18631, 19183 |
11/15/2021 |
For information returns required to be filed and statements required to be furnished after 12/31/2023. |
Technical Explanation of Section 8063, Information Reporting For Brokers And Digital Assets,” of the Infrastructure and Jobs Act |
Analysis of 117-58 §80603 |
2021 |
117-58 |
Infrastructure Investment and Jobs Act |
80604 |
Termination of Employee Retention Credit for Employers Subject to Closure Due to COVID-19 |
3134, affecting 3111, 3131, 3132, 3221, 6402, 6413 |
No |
N/A |
11/15/2021 |
Calendar quarters beginning after 9/30/2021. |
Infrastructure Investment and Jobs Act, page 913 |
Analysis of 117-58 §80604 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
3201 |
Emergency Rental Assistance |
Uncodified, affecting IRC sections 61 |
No |
17071 |
03/11/2021 |
3/11/2021 through 9/30/2025 for Emergency Rental Assistance funds granted to states, territories, and tribes. Extends the operative date of CAA emergency rental assistance funds to 9/30/2022. |
American Rescue Plan Act of 2021, Page 51 |
Analysis of 117-2 §3201 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
5001 |
Modifications to the Paycheck Protection Program |
Uncodified law, affecting sections of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the CAA, and IRC section 501(c) |
No |
17071, 17131.8, 17280, 24271, 24308.6, 24425 |
03/11/2021 |
03/11/2021 |
American Rescue Plan Act of 2021, Page 78 |
Analysis of 117-2 §5001 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
5002 |
Targeted EIDL Advance |
Uncodified law affecting CAA section 331 |
N/A |
17071, 17131.8, 24271, 24308.6, 24425 |
03/11/2021 |
03/11/2021 |
American Rescue Plan Act of 2021, Page 82 |
Analysis of 117-2 §5002 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
5003 |
Support for Restaurants |
Uncodified American Rescue Plan Act section 5003; and IRC section 61 |
No |
17071 |
03/11/2021 |
For grants made during the covered period beginning on 2/15/2020 and ending on 12/31/2021, or no later than 3/11/2023 as determined by the Small Business Administration (SBA). |
American Rescue Plan Act of 2021, Page 82 |
Analysis of 117-2 §5003 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9041 |
Extension of Limitation on Excess Business Losses of Noncorporate Taxpayers |
461(l) |
No |
17551, 17560.5, 24681 |
03/11/2021 |
Taxable years beginning after 12/31/2025 and before 1/1/2027. |
American Rescue Plan Act of 2021, Page 119 |
Analysis of 117-2 §9041 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9042 |
Suspension of Tax on Portion of Unemployment Compensation |
85 |
No |
17081, 17083 |
03/11/2021 |
Taxable years beginning after 12/31/2019 |
American Rescue Plan Act of 2021, Page 119 |
Analysis of 117-2 §9042 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9501 |
Preserving Health Benefits for Workers |
Uncodified law affecting IRC sections 35, 61, 106, 125,
4980B, 3111, 3221, 6402, 6413, 6656, 7527, 9831, 9832, and adding new IRC sections 139I, 6432, 6720C |
No |
17071, 24271 |
Taxable years ending after 3/11/2021. |
The COBRA premium subsidy and employer tax credit is available beginning on 4/1/2021 and ending on 9/30/2021. The penalty for failure to notify a group health plan and gross income exclusion would apply to taxable years ending after 3/11/2021. |
American Rescue Plan Act of 2021, Page 124 |
Analysis of 117-2 §9501 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9601 |
2021 Recovery Rebates to Individuals |
6428B |
No |
N/A |
03/11/2021 |
For the first taxable year beginning in 2021. |
American Rescue Plan Act of 2021, Page 135 |
Analysis of 117-2 §9601 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9611 |
Child Tax Credit Improvements for 2021 |
24, 7527A |
No |
N/A |
03/11/2021 |
A refundable credit is available for taxable years beginning after 12/31/2020 and before 1/01/2022. The Secretary of the Treasury is required to establish the Advance Payment Program as soon as practicable after 3/11/2021. |
American Rescue Plan Act of 2021, Page 141 |
Analysis of 117-2 §9611 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9612 |
Application of Child Tax Credit in Possessions |
24 |
No |
N/A |
03/11/2021 |
Taxable years beginning after 12/31/2021 |
American Rescue Plan Act of 2021, Page 147 |
Analysis of 117-2 §9612 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9621 |
Strengthening the Earned Income Tax Credit for Individuals with No Qualifying Children |
32 |
No |
17052 |
03/11/2021 |
Taxable years beginning after 12/31/2020. |
American Rescue Plan Act of 2021, Page 149 |
Analysis of 117-2 §9621 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9622 |
Taxpayer Eligible for Childless Earned Income Credit in Case of Qualifying Children Who Fail to Meet Certain Identification Requirements |
32 |
Yes |
17052 |
03/11/2021 |
Taxable years beginning after 12/31/2020 |
American Rescue Plan Act of 2021, Page 150 |
Analysis of 117-2 §9622 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9623 |
Credit Allowed in Case of Certain Separated Spouses |
32 |
Yes |
17052 |
03/11/2021 |
Taxable years beginning after 12/31/2020 |
American Rescue Plan Act of 2021, Page 150 |
Analysis of 117-2 §9623 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9624 |
Modification of Disqualified Investment Income Test |
32 |
No |
17052 |
03/11/2021 |
Taxable years beginning after 12/31/2020 |
American Rescue Plan Act of 2021, Page 151 |
Analysis of 117-2 §9624 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9626 |
Temporary Special Rule for Determining Earned Income for Purposes of Earned Income Tax Credit |
Uncodified, affecting IRC sections 32, 6213 |
No |
17052 |
03/11/2021 |
03/11/2021 |
American Rescue Plan Act of 2021, Page 154 |
Analysis of 117-2 §9626 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9631 |
Refundability and Enhancement of Child and Dependent Care Tax Credit |
21 |
No |
17052.6 |
03/11/2021 |
Taxable years beginning after 12/31/2020 |
American Rescue Plan Act of 2021, Page 156 |
Analysis of 117-2 §9631 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9632 |
Increase in Exclusion for Employer-Provided Dependent Care Assistance |
129 and uncodified sections affecting IRC sections 125 and 129 |
No |
17131 |
03/11/2021 |
Taxable years beginning after 12/31/2020 |
American Rescue Plan Act of 2021, Page 157 |
Analysis of 117-2 §9632 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9642 |
Credit for Sick Leave for Certain Self-Employed Individuals |
Uncodifed, affecting IRC Chapter 1 (commencing with section 1) |
No |
N/A |
03/11/2021 |
Days occurring beginning 4/1/2021 and ending 9/30/2021 |
American Rescue Plan Act of 2021, Page 168 |
Analysis of 117-2 §9642 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9643 |
Credit for Family Leave for Certain Self-Employed Individuals |
Uncodifed affecting IRC Chapter 1 (commencing with section 1) |
No |
N/A |
03/11/2021 |
Days occurring beginning 4/1/2021 and ending 9/30/2021 |
American Rescue Plan Act of 2021, Page 171 |
Analysis of 117-2 §9643 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9651 |
Extension of Employee Retention Credit |
3134, affecting 3111, 3131, 3132, 3221, 6402, 6413 |
No |
N/A |
03/11/2021 |
Calendar quarters beginning after 6/30/2021 |
American Rescue Plan Act of 2021, Page 173 |
Analysis of 117-2 §9651 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9661 |
Improving Affordability by Expanding Premium Assistance for Consumers |
36B |
No |
N/A |
03/11/2021 |
Taxable years beginning after 12/31/2020 |
American Rescue Plan Act of 2021, Page 179 |
Analysis of 117-2 §9661 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9662 |
Temporary Modification of Limitations on Reconciliation of Tax Credits for Coverage under a Qualified Health Plan with Advance Payments of Such Credit |
36B |
No |
N/A |
03/11/2021 |
Taxable years beginning after 12/31/2019 |
American Rescue Plan Act of 2021, Page 180 |
Analysis of 117-2 §9662 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9663 |
Application of Premium Tax Credit in Case of Individuals Receiving Unemployment Compensation During 2021 |
36B |
No |
N/A |
03/11/2021 |
Taxable years beginning after 12/31/2020 |
American Rescue Plan Act of 2021, Page 180 |
Analysis of 117-2 §9663 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9671 |
Repeal of Election to Allocate Interest, Etc. On Worldwide Basis |
864 |
No |
25110 |
03/11/2021 |
Taxable years beginning after 12/31/2020 |
American Rescue Plan Act of 2021, Page 181 |
Analysis of 117-2 §9671 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9672 |
Tax Treatment of Targeted EIDL Advances |
Uncodified, affecting CAA section 331; and IRC sections 61, 265, 705, 1017, and 1366. |
Partially |
17071, 17087.5, 17131.8, 17280, 17851, 18031, 24271, 24308.6, 24425 |
03/11/2021 |
Taxable years ending after 3/27/2020 |
American Rescue Plan Act of 2021, Page 181 |
Analysis of 117-2 §9672 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9673 |
Tax Treatment of Restaurant Revitalization Grants |
Uncodified, affecting IRC sections 61, 265, 705, 1017, and 1366. |
No |
17071, 17280, 24271, 24425 |
03/11/2021 |
03/11/2021 |
American Rescue Plan Act of 2021, Page 181 |
Analysis of 117-2 §9673 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9674 |
Modification of Exceptions for Reporting of Third Party Network Transactions |
6050W |
No |
18631 |
03/11/2021 |
The de minimus exception applies for information returns filed after 12/31/2021. The clarification that reporting is not required applies for transactions after 3/11/2021. |
American Rescue Plan Act of 2021, Page 182 |
Analysis of 117-2 §9674 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9675 |
Modification of Treatment of Student Loan Forgiveness |
108 |
Partially |
17131, 17132.11, 17134, 17144.6, 17144.7, 17144.8 |
03/11/2021 |
For loans discharged after 12/31/2020 |
American Rescue Plan Act of 2021, Page 182 |
Analysis of 117-2 §9675 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9701 |
Temporary Delay of Designation of Multiemployer Plans as in Endangered, Critical, or Critical and Declining Status |
Uncodified, affecting Employee Retirement Income Security Act (ERISA) section 305 and IRC section 414, 432, and 4971 |
Yes |
17501 |
03/11/2021 |
03/11/2021 |
American Rescue Plan Act of 2021, Page 183 |
Analysis of 117-2 §9701 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9702 |
Temporary Extension of the Funding Improvement and Rehabilitation Periods for Multiemployer Pension Plans in Critical and Endangered Status for 2020 or 2021 |
Uncodified, affecting ERISA section 305 and IRC section 432 |
Yes |
17501 |
03/11/2021 |
Plan years beginning after 12/31/2019 |
American Rescue Plan Act of 2021, Page 185 |
Analysis of 117-2 §9702 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9703 |
Adjustments to Funding Standard Account Rules |
431; also amends ERISA section 304 |
Yes |
17501 |
The first day of the first plan year ending on or after 2/29/2020. However, an election made under this section that affects the plan’s funding standard account for the first plan year beginning after 2/29/2020, is disregarded for purposes of IRC section 432 and ERISA section 305. The restrictions on plan amendments increasing certain benefits as applied after application of this section are effective 3/11/2021. |
The first day of the first plan year ending on or after 2/29/2020. However, an election made under this section that affects the plan’s funding standard account for the first plan year beginning after 2/29/2020, is disregarded for purposes of IRC section 432 and ERISA section 305. The restrictions on plan amendments increasing certain benefits as applied after application of this section are effective 3/11/2021. |
American Rescue Plan Act of 2021, Page 185 |
Analysis of 117-2 §9703 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9704 |
Special Financial Assistance Program for Financially Troubled Multiemployer Plans |
432; also amends ERISA sections 4005 and 4006, and adds new section 4262 to ERISA |
Yes |
17501 |
03/11/2021 |
03/11/2021 |
American Rescue Plan Act of 2021, Page 187 |
Analysis of 117-2 §9704 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9705 |
Extended Amortization for Single Employer Plans |
430; also amends ERISA section 303 |
Yes |
17501 |
03/11/2021 |
Plan years beginning after 12/31/2018. |
American Rescue Plan Act of 2021, Page 196 |
Analysis of 117-2 §9705 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9706 |
Extension of Pension Funding Stabilization Percentages for Single Employer Plans |
430; also amends ERISA section 303 |
Yes |
17501 |
03/11/2021 |
Plan years beginning after 12/31/2019. Plan sponsor’s may elect not to have the section apply to any plan year beginning before 1/1/2022, for the entire section, or only for the purpose of determining an adjusted funding target attainment percentage. |
American Rescue Plan Act of 2021, Page 197 |
Analysis of 117-2 §9706 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9707 |
Modification of Special Rules for Minimum Funding Standards for Community Newspaper Plans |
430; also, amends ERISA section 303 |
Yes |
17501 |
03/11/2021 |
For plan years ending after 12/31/2017 |
American Rescue Plan Act of 2021, Page 199 |
Analysis of 117-2 §9707 |
2021 |
117-2 |
American Rescue Plan Act of 2021 |
9708 |
Expansion of Limitation on Excessive Employee Remuneration |
162(m) |
No |
17271, 24343 |
03/11/2021 |
Taxable years beginning after 12/31/2026 |
American Rescue Plan Act of 2021, Page 203 |
Analysis of 117-2 §9708 |
2021 |
117-6 |
PPP Extension Act of 2021 |
2 |
Extension of Covered Period for Paycheck Protection Program |
Uncodified, affecting the Small Business Act, section 7, and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) section 1102 |
No |
17071, 17131.8, 17280, 24271, 24308.6, 24425 |
03/30/2021 |
For loans provided during the covered period until ending on 6/30/2021 and applications received after 3/31/2021 and before 6/1/2021. |
PPP Extension Act of 2021, Page 1 |
Analysis of 117-6 §2 |
2020 |
116-127 |
Families First Coronavirus Response Act |
7001 |
Payroll Credit for Required Paid Sick Leave |
Uncodified, affecting IRC Chapter 1 (commencing with section 1) and sections 3111 and 3221 |
No |
N/A |
3/18/2020 |
Applies to qualified sick leave wages paid during the period beginning 4/1/2020 and on or before 12/31/2020 (IRS Notice 20-21) |
JCT Report, JCX-10-20, p. 8 |
Analysis of 116-127 §7001 |
2020 |
116-127 |
Families First Coronavirus Response Act |
7002 |
Credit for Sick Leave for Certain Self-Employed Individuals |
Uncodified, affecting IRC Subtitle A (commencing with section 1) and section 1401 |
No |
N/A |
3/18/2020 |
Days occurring during the period beginning on 4/1/2020 through 12/31/2020 can be included in determining the qualified sick leave equivalent amount (IRS Notice 20-21) |
JCT Report, JCX-10-20, p. 12-14 |
Analysis of 116-127 §7002 |
2020 |
116-127 |
Families First Coronavirus Response Act |
7003 |
Payroll Credit for Required Paid Family Leave |
Uncodified, affecting IRC Chapter 1 (commencing with section 1) and sections 3111 and 3221 |
No |
N/A |
3/18/2020 |
Applies to qualified family leave wages paid during the period beginning 4/1/2020 through 12/31/2020 (IRS Notice 20-21) |
JCT Report, JCX-10-20, p. 15-18 |
Analysis of 116-127 §7003 |
2020 |
116-127 |
Families First Coronavirus Response Act |
7004 |
Credit for Family Leave for Certain Self-Employed Individuals |
Uncodified, affecting IRC Subtitle A (commencing with section 1) |
No |
N/A |
3/18/2020 |
Days occurring during the period beginning on 4/1/2020 through 12/31/2020 can be included in determining the qualified family leave equivalent amount (IRS Notice 20-21) |
JCT Report, JCX-10-20, dated 3/17/2020, p. 19 |
Analysis of 116-127 §7004 |
2020 |
116-127 |
Families First Coronavirus Response Act |
7005 |
Special Rule Related to Tax on Employers |
Uncodified, affecting IRC Chapter 1 (commencing with section 1) and sections 3111 and 3221 |
No |
N/A |
3/18/2020 |
3/18/2020 |
JCT Report, JCX-10-20, p. 22 |
Analysis of 116-127 §7005 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
1106 |
Loan Forgiveness |
Uncodified, affecting IRC sections 61 and 265 |
The California Legislature has passed a law that provides an exclusion from gross income for amounts of covered loans that are forgiven under section 1106, like the exclusion in section 1106(i). |
17071, 17131.8, 24271, 24308.6 |
3/27/2020. |
3/27/2020 |
JCT Report, JCX-12R-20, p.104 |
Analysis of 116-136 §1106 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2201 |
2020 Recovery Rebates for Individuals |
6211, 6213, 6428 |
No |
N/A |
3/27/2020 |
3/27/2020 |
JCT Report, JCX-12R-20, pp. 3-12 |
Analysis of 116-136 §2201 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2202 |
Special Rules for Use of Retirement Funds |
72 |
Yes |
17071, 17081, 17085, 17085.7, 17501, 24271, 24601 |
3/27/2020 |
Operative for coronavirus-related distributions, as defined, made on or after 1/1/ 2020, and before 12/31/ 2020 |
JCT Report, JCX-12R-20, pp. 12-16 |
Analysis of 116-136 §2202 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2203 |
Temporary Waiver of Required Minimum Distribution Rules for Certain Retirement Plans and Accounts |
401, 402 |
Yes |
17501, 24601 |
3/27/2020 |
These provisions apply for calendar years after 12/31/2019, and applies to amendments to any plan or annuity contract made pursuant to the amendments that are made by this section and made on or before the last day of the first plan year beginning on or after 1/1/ 2022 |
JCT Report, JCX-12R-20, pp. 16-20 |
Analysis of 116-136 §2203 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2204 |
Allowance of Partial Above the Line Deduction for Charitable Contributions |
62 |
No |
17024.5, 17072 |
3/27/2020 |
The amendments made by this section apply to taxable years beginning after 12/31/ 2019 |
JCT Report, JCX-12R-20, pp. 20-23 |
Analysis of 116-136 §2204 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2205 |
Modification of Limitations on Charitable Contributions During 2020 |
170 |
No |
17201, 17275.2, 17275.3, 17275.5, 24357 – 24359.1 |
3/27/2020 |
The provision applies to taxable years ending after 12/31/2019 |
JCT Report, JCX-12R-20, pp. 23-26 |
Analysis of 116-136 §2205 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2206 |
Exclusion for Certain Employer Payments of Student Loans |
127, 221 |
No |
17131, 17151 |
3/27/2020 |
Operative for payments made after 3/27/2020 and before 1/1/2021 |
JCT Report, JCX-12R-20, pp. 26- 29 |
Analysis of 116-136 §2206 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2301 |
Employee Retention Credit for Employers Subject to Closure Due to COVID-19 |
Uncodified provision impacting IRC sections 3111 and 3221 |
N/A |
N/A |
3/27/2020 |
Operative for wages paid after 3/ 12/2020, and before1/1/2021 |
JCT Report, JCX-12R-20, pp. 30-43 |
Analysis of 116-136 §2301 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2302 |
Delay of Payment of Employer Payroll Taxes |
Uncodified provisions affecting IRC sections 1401, 3111, 3211, 3221, 6654 |
N/A |
N/A |
3/27/2020 |
Operative for payments deferred beginning on 3/27/2020 and before 1/1/2021. |
JCT Report, JCX-12R-20, pp. 43-50 |
Analysis of 116-136 §2302 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2303 |
Modifications for Net Operating Losses |
172 and 860E |
No |
17201, 17276-17276.22, 24416-24416.22 |
3/27/2020 |
The provision suspending application of the 80% taxable income limitation applies to taxable years beginning after 12/31/2017, and to taxable years beginning on or before 12/31/2017, to which NOL arising in taxable years beginning after 12/31/2017, are carried.
The provision modifying the rules relating to carrybacks applies to NOLs arising in taxable years beginning after 12/31/2017, and taxable years beginning before, on, or after such date to which such NOLs are carried.
The technical amendments made by the provision are effective as if included in section 13302 of PL 115-97. |
JCT Report, JCX-12R-20, pp. 50-55 |
Analysis of 116-136 §2303 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2304 |
Modification of Limitation on Losses for Taxpayers Other than Corporations |
461 |
No |
17551, 17560.5, 24681 |
3/27/2020 |
The provision suspending the disallowance of excess business loss is operative for taxable years beginning after 12/31/2017. The technical amendments to IRC section 461(l) made by the provision are operative as if included in section 11012 of PL 115-97 for taxable years beginning after 12/31/2017. |
JCT Report, JCX-12R-20, pp. 55-59 |
Analysis of 116-136 §2304 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2305 |
Modification of Credit for Prior Year Minimum Tax Liability of Corporations |
53 |
No |
17063, 23453 |
3/27/2020 |
This provision is operative for taxable years beginning after 12/ 31/ 2017 |
JCT Report, JCX-12R-20, pp. 59-60 |
Analysis of 116-136 §2305 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2306 |
Modification of Limitation on Business Interest |
163 |
No |
17024.5, 17201, 23051.5, 24344, 24344.7 |
3/27/2020 |
This section is operative for taxable years beginning after 12/31/ 2018. |
JCT Report, JCX-12R-20, pp. 61-67 |
Analysis of 116-136 §2306 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2307 |
Technical Amendments Regarding Qualified Improvement Property |
168 |
No |
17201, 17250, 24349 |
3/27/2020 |
This section is operative as if included in section 13204 of the Tax cuts and Jobs Act ( PL 115-97). |
JCT Report, JCX-12R-20, pp. 67-71 |
Analysis of 116-136 §2307 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
2308 |
Temporary Exception from Excise Tax for Alcohol Used to Produce Hand Sanitizer |
5214 |
No |
N/A |
3/27/2020 |
Applies to distilled spirits removed after 12/31/2019, and before 1/1/2021. |
JCT Report, JCX-12R-20, pp. 71-72 |
Analysis of 116-136 §2308 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
3516 |
Technical Amendments |
6103 |
No |
19542-19547, 19549, 19551-19555, 19559, 19561, 19562, 19565 |
3/27/2020 |
This section is operative as if included in the Fostering Undergraduate Talent by Unlocking Resources for Education Act or the “FUTURE Act” (P.L. 116–91) |
JCT Report, JCX-12R-20, pp. 73-76 |
Analysis of 116-136 §3516 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
3606 |
Advanaced Refunding of Credits |
Uncodified, affecting IRC section 3111 and 3221 by amending sections 7001 and 7003 of the Families First Coronavirus Response Act, (Public Law 116-127). |
No |
N/A |
3/27/2020 |
Applies to qualified family leave wages paid during the period beginning 4/1/2020 and on or before 12/31/2020 (IRS Notice 20-21) |
JCT Report, JCX-12R-20, pp. 77-81 |
Analysis of 116-136 §3606 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
3607 |
Expansion of DOL Authority to Postpone Certain Deadlines |
N/A |
N/A |
N/A |
3/27/2020 |
3/27/2020 |
JCT Report, JCX-12R-20, pp. 81-82 |
Analysis of 116-136 §3607 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
3608 |
Single-Employer Plan Funding Rules |
Uncodified provisions, affecting IRC sections 430 and 436 |
Partially |
17501, 24601 |
3/27/2020 |
3/27/2020 |
JCT Report, JCX-12R-20, pp. 83-90 |
Analysis of 116-136 §3608 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
3609 |
Application of Cooperative and Small Employer Charity Pension Plan Rules to Certain Charitable Employers Whose Primary Exempt Purpose is Providing Services with Respect to Mothers and Children. |
414 |
Yes |
17501, 24601 |
3/27/2020 |
The provision is applicable to plan years beginning after December 31, 2018 |
JCT Report, JCX-12R-20, pp. 90-95 |
Analysis of 116-136 §3609 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
3701 |
Exemption for Telehealth Services |
223 |
No |
17215.4 |
3/27/2020 |
This provision is operative for plan years beginning on or before December 31, 2021 |
JCT Report, JCX-12R-20, pp. 96-97 |
Analysis of 116-136 §3701 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
3702 |
Inclusion of Certain Over-The-Counter Medical Products as Qualified Medical Expenses |
105, 106, 220, and 223 |
No |
17024.5, 17131, 17131.4, 17201, 17215, 17215.1, and 17215.4 |
3/27/2020 |
The provision applies to distributions from HSAs and MSAs for amounts paid after December 31, 2019.
The provision applies to reimbursements from health FSAs and HRAs for expenses incurred after December 31, 2019.
|
JCT Report, JCX-12R-20, pp. 98-100 |
Analysis of 116-136 §3702 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
4003 |
Emergency Relief and Taxpayer Protections |
Uncodified, affecting IRC section 382 |
No |
17024.5, 17321, 17323, 23051.5, 24451, 24458, 24459, and 24472 |
3/27/2020 |
3/27/2020 |
JCT Report, JCX-12R-20, p.105 |
Analysis of 116-136 §4003 |
2020 |
116-136 |
Coronavirus Aid, Relief, and Economic Security (CARES) Act |
4007 |
Suspension of Certain Aviation Excise Taxes |
Uncodified, affecting IRC sections 4041, 4081, 4083, 4261, 4271, and 6427 |
No |
N/A |
3/27/2020 |
The suspension of these excise taxes applies from March 28, 2020 through December 31, 2020. |
JCT Report, JCX-12R-20, pp. 101-103 |
Analysis of 116-136 §4007 |
2020 |
116-139 |
Paycheck Protection Program and Health Care Enhancement Act |
101 |
Amendments to the Paycheck Protection Program, Economic Injury Disaster Loans, and Emergency Grants |
Uncodified, amends Division A of the CARES Act (PL 116-136) |
No |
17071, 17131.8, 24271, 24308.6 |
4/24/2020 |
4/24/2020 |
JCT Report, JCX-12R-20, p. 104 |
Analysis of 116-139 §101 |
2020 |
116-142 |
Paycheck Protection Program Flexibility Act of 2020 |
3 |
Amendments to Paycheck Protection Program Loan Forgiveness |
Uncodified, affecting IRC sections 61 and 265 |
No |
17071, 17131.8, 24271, 24308.6 |
3/27/2020 |
Applies to loans made pursuant to SBA Section 7(a)(36) or CARES Act Section 1109 |
JCT Report, JCX-12R-20, p. 104 |
Analysis of 116-142 §3 |
2020 |
116-142 |
Paycheck Protection Program Flexibility Act of 2020 |
4 |
Delay of Payment of Employer Payroll Taxes |
Uncodified, affecting IRC section 3111 |
N/A |
N/A |
N/A |
N/A |
JCT Report, JCX-12R-20, p. 43 |
Analysis of 116-142 §4 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
272 |
Additional 2020 Recovery Rebates for Individuals |
6428A |
No |
N/A |
12/27/2020 |
12/27/2020 |
Consolidated Appropriations Act, 2021, page 784 |
Analysis of 116-260 §272 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
273 |
Amendments to Recovery Rebates under the CARES Act |
Uncodified, affecting the Coronavirus, Aid, Relief, and Economic Security Act (CARES Act), and IRC Subtitle A (commencing with section 1) and section 6428 |
No |
N/A |
03/27/2020 |
03/27/2020 |
Consolidated Appropriations Act, 2021, page 795 |
Analysis of 116-260 §273 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
274 |
Extension of Certain Deferred Payroll Taxes |
Uncodified, affecting Internal Revenue Service Notice 2020-65 |
N/A |
N/A |
12/27/2020 |
12/27/2020 |
Consolidated Appropriations Act, 2021, page 797 |
Analysis of 116-260 §274 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
275 |
Regulations or Guidance Clarifying Application of Educator Expense Tax Deduction |
Uncodified, affecting IRC section 62 |
No |
17072 |
12/27/2020 |
Expenses paid or incurred after 3/12/2020 |
Consolidated Appropriations Act, 2021, page 797 |
Analysis of 116-260 §275 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
276 |
Clarification of Tax Treatment of Forgiveness of Covered Loans |
Uncodified, affecting the Small Business Act, section 7A, and IRC sections 61, 265, 705, 1017, and 1366 |
No |
17071, 17131.8, 17280, 24271, 24308.6, 24425 |
12/27/2020 |
The original Payroll Protection Program (PPP) loan provision is effective for taxable years beginning after 3/27/2020
The subsequent PPP loans provision is effective for taxable years ending after 12/27/2020 |
Consolidated Appropriations Act, 2021, page 798 |
Analysis of 116-260 §276 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
277 |
Emergency Financial Aid Grants |
Uncodified, affecting the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) section 3504, and IRC Subtitle A (commencing with section 1) and sections 25A, 61 |
No |
17071, 17131.8, 24271, 24308.6 |
03/27/2020 |
Emergency financial aid grants made on or after 3/27/2020 |
Consolidated Appropriations Act, 2021, page 799 |
Analysis of 116-260 §277 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
278 |
Clarification of Tax Treatment of Certain Loan Forgiveness and other Business Financial Assistance |
Uncodified, affecting CARES Act, sections 1109, 1110, and 1112, and IRC sections 61, 265, 705, 1017, and 1366. |
No |
17071, 17131.8, 17280, 24271, 24308.6, 24425 |
12/27/2020 |
The provisions related to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), PL 116-136, including PPP-related provisions, Economic Injury Disaster Loan (EIDL) advances, and subsidies for certain loan payments under the CARES Act are effective for taxable years ending after 3/27/2020.
The provision relating to grants for shuttered venue operators is effective for taxable years ending after 12/27/2020.
The provision relating to EIDL advances under Division N, Title III, section 331 (Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act) is effective for taxable years beginning after 12/27/2020. |
Consolidated Appropriations Act, 2021, page 799 |
Analysis of 116-260 §278 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
279 |
Authority to Waive Certain Information Reporting Requirements |
Uncodified, affecting various sections of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), sections 276(b), 277, and 278 of the Act, and IRC Subtitle F, Chapter 61 (commencing with section 6012) |
Partially |
18631 |
12/27/2020 |
12/27/2020 |
Consolidated Appropriations Act, 2021, page 801 |
Analysis of 116-260 §279 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
280 |
Application of Special Rules to Money Purchase Pension Plans |
Uncodified, affecting the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), PL 116-136, section 2202, and IRC section 72 |
Yes |
17071, 17081, 17085, 17085.7, 17501, 24271, 24601 |
03/27/2020 |
Operative for coronavirus-related distributions, as defined, made on or after 1/1/2020, and before 12/31/2020. |
Consolidated Appropriations Act, 2021, page 801 |
Analysis of 116-260 §280 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
281 |
Election to Waive Application of Certain Modifications to Farming Losses |
Uncodified, affecting the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), PL 116-136, section 2303, and IRC sections 172 and 860E |
No |
17201, 17276-17276.22, 24416-24416.22 |
03/27/2020 |
The provision modifying the rules relating to carrybacks applies to a net operating loss (NOL) arising in taxable years beginning after 12/31/2017. The provision modifying the rules relating to NOL limitations applies to taxable years beginning after 12/31/2017, and taxable years beginning on or before such date to which NOLs arising in taxable years beginning after such date are carried. |
Consolidated Appropriations Act, 2021, page 802 |
Analysis of 116-260 §281 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
283 |
Disclosures to Identify Tax Receivables Not Eligible for Collection Pursuant to Qualified Tax Collection Contracts |
6103, 7213 |
No |
19542 - 19572 |
12/27/2020 |
Disclosures made on or after 12/27/2020 |
Consolidated Appropriations Act, 2021, page 803 |
Analysis of 116-260 §283 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
284 |
Modification of Certain Protections for Taxpayer Return Information |
6103 |
No |
19542 - 19572 |
Disclosures made after 12/19/2019 |
Disclosures made after 12/19/2019 |
Consolidated Appropriations Act, 2021, page 804 |
Analysis of 116-260 §284 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
285 |
2020 Election to Terminate Transfer Period for Qualified Transfers from Pension Plan for Covering Future Retiree Costs |
420 |
Yes |
17501, 24601 |
12/27/2020 |
For taxable years beginning after the date of a one-time election to terminate the transfer period for pension plans to cover future retiree costs, that is made during taxable years beginning after 12/31/2019 and before 12/31/2021 |
Consolidated Appropriations Act, 2021, page 807 |
Analysis of 116-260 §285 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
286 |
Extension of Credits for Paid Sick and Family Leave |
Uncodified, affecting Families First Coronavirus Response Act (FFCRA), sections 7001-7004, and IRC sections 1401, 3111, and 3221 |
No |
N/A |
03/18/2020 |
Various, see Summary of Federal Change |
Consolidated Appropriations Act, 2021, page 808 |
Analysis of 116-260 §286 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
288 |
Certain Technical Improvements to Credits for Paid Sick and Family Leave |
Uncodified, affecting Families First Coronavirus Response Act (FFCRA), sections 7001 and 7003, and IRC sections 3111 and 3221 |
N/A |
N/A |
03/18/2020 |
Applies to qualified family leave wages paid during the period beginning 4/1/2020 through 3/31/2021. |
Consolidated Appropriations Act, 2021, page 811 |
Analysis of 116-260 §288 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
304 |
Additional Eligible Expenses |
Uncodified, affecting the Small Business Act, sections 7 and 7A, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), PL 116-136, sections 1106 and 1109, and IRC sections 61 and 265 |
No |
17071, 17131.8, 24271, 24308.6 |
12/27/2020 |
Allows loans made under Payroll Protection Program (PPP) before, on, or after 12/27/2020, to utilize funds for additional forgivable expenses, except for borrowers who have already had their loans forgiven. |
Consolidated Appropriations Act, 2021, page 812 |
Analysis of 116-260 §304 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
421 |
Assistance for Providers of Transportation Services Affected by COVID-19 |
Uncodified, affecting IRC section 3111 |
N/A |
N/A |
12/27/2020 |
Certain transportation services beginning 12/27/2020, and ending the later of 3/31/2021 or the date in which all authorized funds are expended, but not later than 12/27/2023. |
Consolidated Appropriations Act, 2021, page 880 |
Analysis of 116-260 §421 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
501 |
Emergency Rental Assistance |
Uncodified, affecting IRC section 61 |
No |
17071, 24271 |
12/27/2020 |
12/27/2020 |
Consolidated Appropriations Act, 2021, page 888 |
Analysis of 116-260 §501 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
512 |
Great Lakes St. Lawrence Seaway Development Corporation |
9505 |
N/A |
N/A |
12/27/2020 |
12/27/2020 |
Consolidated Appropriations Act, 2021, page 1575 |
Analysis of 116-260 §512 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
102 |
Health Insurance Requirements Regarding Surprise Medical Billing |
9815, 9816, 9817, 9822, 223 |
No |
17201, 17215.4 |
12/27/2020 |
Plan years beginning on or after 1/1/2022 |
Consolidated Appropriations Act, 2021, page 1577 |
Analysis of 116-260 §102 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
103 |
Determination of Out-Of-Network Rates to be Paid by Health Plans; Independent Dispute Resolution Process |
9816 |
No |
N/A |
12/27/2020 |
Various |
Consolidated Appropriations Act, 2021, page 1616 |
Analysis of 116-260 §103 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
105 |
Ending Surprise Air Ambulance Bills |
9817 |
No |
N/A |
12/27/2020 |
Operative with respect to plan years beginning on or after 1/1/2022 |
Consolidated Appropriations Act, 2021, page 1650 |
Analysis of 116-260 §105 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
106 |
Reporting Requirements Regarding Air Ambulance Services |
9823 |
No |
N/A |
12/27/2020 |
Operative with respect to plan years beginning on or after 1/1/2022 |
Consolidated Appropriations Act, 2021, page 1670 |
Analysis of 116-260 §106 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
107 |
Transparency Regarding In-Network and Out-Of-Network Deductibles and Out-Of-Pocket Limitations |
9816 |
9816 |
N/A |
12/27/2020 |
Operative with respect to plan years beginning on or after 1/1/2022. |
Consolidated Appropriations Act, 2021, page 1677 |
Analysis of 116-260 §107 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
111 |
Consumer Protections through Health Plan Requirement for Fair and Honest Advance Cost Estimate |
9816 |
No |
N/A |
12/27/2020 |
Operative with respect to plan years beginning on or after 1/1/2022. |
Consolidated Appropriations Act, 2021, page 1680 |
Analysis of 116-260 §111 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
113 |
Ensuring Continuity of Care |
9818 |
No |
N/A |
12/27/2020 |
Operative with respect to plan years beginning on or after 1/1/2022. |
Consolidated Appropriations Act, 2021, page 1687 |
Analysis of 116-260 §113 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
114 |
Maintenance of Price Comparison Tool |
9819 |
No |
N/A |
12/27/2020 |
Operative with respect to plan years beginning on or after 1/1/2022 |
Consolidated Appropriations Act, 2021, page 1693 |
Analysis of 116-260 §114 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
116 |
Protecting Patients and Improving the Accuracy of Provider Directory Information |
9820 |
No |
N/A |
12/27/2020 |
Plan years beginning on or after 1/1/2022 |
Consolidated Appropriations Act, 2021, page 1697 |
Analysis of 116-260 §116 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
201 |
Increasing Transparency by Removing Gag Clauses on Price and Quality Information |
9824 |
No |
N/A |
12/27/2020 |
12/27/2020 |
Consolidated Appropriations Act, 2021, page 1709 |
Analysis of 116-260 §201 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
203 |
Strengthening Parity in Mental Health and Substance Use Disorder Benefits |
9812 |
No |
N/A |
12/27/2020 |
12/27/2020 |
Consolidated Appropriations Act, 2021, page 1719 |
Analysis of 116-260 §203 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
204 |
Reporting on Pharmacy Benefits and Drug Costs |
9825 |
No |
N/A |
12/27/2020 |
12/27/2020 |
Consolidated Appropriations Act, 2021, page 1737 |
Analysis of 116-260 §204 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
101 |
Reduction in Medical Expense Deduction Floor |
213 |
No |
17201 and 17241 |
12/27/2020 |
Taxable years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1858 |
Analysis of 116-260 §101 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
102 |
Energy Efficient Commercial Buildings Deduction |
179D |
No |
17257.2 |
Property placed in service after 12/31/2020 |
Property placed in service after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1858 |
Analysis of 116-260 §102 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
103 |
Benefits Provided to Volunteer Firefighters and Emergency Medical Responders |
139B |
No |
17131 |
Taxable years beginning after 12/31/2020 |
Taxable years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1859 |
Analysis of 116-260 §103 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
104 |
Transition from Deduction for Qualified Tuition and Related Expenses to Increased Income Limitation on Lifetime Learning Credit |
25A, 222 |
No |
17204.7 |
Taxable years beginning after 12/31/2020 |
Taxable years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1859 |
Analysis of 116-260 §104 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
105 |
Railroad Track Maintenance Credit |
45G |
No |
N/A |
12/27/2020 |
For taxable years ending after 12/27/2020 |
Consolidated Appropriations Act, 2021, page 1860 |
Analysis of 116-260 §105 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
106 |
Certain Provisions Related to Beer, Wine, and Distilled Spirits |
263A, 5001, 5041, 5051, 5212, 5414, 5555 |
No |
17201, 24422.3 |
12/27/2020 |
Interest costs paid or accrued after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1860 |
Analysis of 116-260 §106 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
107 |
Refunds in Lieu of Reduced Rates for Certain Craft Beverages Produced Outside the United States |
5001, 5041, 5051, 6038E, 7652 |
N/A |
N/A |
12/27/2020 |
Generally, for distilled spirits, beer, and wine brought into the US and removed after 12/31/2022, with various other operative dates |
Consolidated Appropriations Act, 2021, page 1864 |
Analysis of 116-260 §107 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
108 |
Reduced Rates Not Allowed for Smuggled or Illegally Produced Beer, Wine, and Spirits |
5067, 5068 |
N/A |
N/A |
12/27/2020 |
For distilled spirits, beer, and wine produced after 12/27/2020 |
Consolidated Appropriations Act, 2021, page 1868 |
Analysis of 116-260 §108 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
109 |
Minimum Processing Requirements for Reduced Distilled Spirits Rates |
5001, 5002 |
N/A |
N/A |
12/27/2020 |
For distilled spirits removed after 12/31/2021 |
Consolidated Appropriations Act, 2021, page 1868 |
Analysis of 116-260 §109 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
110 |
Modification of Single Taxpayer Rules |
5001, 5041, 5051 |
N/A |
N/A |
12/27/2020 |
For beer, wine, and distilled spirits removed after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1868 |
Analysis of 116-260 §110 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
111 |
Look-Thru Rule for Related Controlled Foreign Corporations |
954 |
No |
25110 |
12/27/2020 |
Taxable years beginning after 12/31/2020 and before 1/1/2026, and to taxable years of US shareholders with or within which such taxable years of foreign corporations end. |
Consolidated Appropriations Act, 2021, page 1869 |
Analysis of 116-260 §111 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
112 |
New Markets Tax Credit |
45D |
No |
N/A |
12/27/2020 |
Calendar years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1869 |
Analysis of 116-260 §112 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
113 |
Work Opportunity Credit |
51 |
No |
17053.6, 23624 |
12/27/2020 |
Applies to individuals who begin work for an employer after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1869 |
Analysis of 116-260 §113 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
114 |
Exclusion from Gross Income of Discharge of Qualified Principal Residence Indebtedness |
108 |
No |
17071, 17131, and 17144.5 |
12/27/2020 |
Discharges of indebtedness after 12/31/2020 and before 1/1/2026 |
Consolidated Appropriations Act, 2021, page 1869 |
Analysis of 116-260 §114 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
115 |
7-Year Recovery Period for Motorsports Entertainment Complexes |
168 |
No |
17201, 17250, and 24349-24355.4 |
12/27/2020 |
Property placed in service after 12/31/2020 and before 1/1/2026. |
Consolidated Appropriations Act, 2021, page 1869 |
Analysis of 116-260 §115 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
116 |
Expensing Rules for Certain Productions |
181 |
No |
17201.5, 17250, 17250.5, 24349 |
12/27/2020 |
Productions that commence after 12/31/2020 and before 1/1/2026 |
Consolidated Appropriations Act, 2021, page 1870 |
Analysis of 116-260 §116 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
117 |
Oil Spill Liability Trust Fund Rate |
4611 |
N/A |
N/A |
12/27/2020 |
On and after 1/1/2021 |
Consolidated Appropriations Act, 2021, page 1870 |
Analysis of 116-260 §117 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
118 |
Empowerment Zone Tax Incentives |
1391, 1397A, 1397B |
No |
17053.73, 23626 |
12/27/2020 |
For taxable years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1870 |
Analysis of 116-260 §118 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
119 |
Employer Credit for Paid Family and Medical Leave |
45S |
No |
N/A |
12/27/2020 |
Wages paid in taxable years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1870 |
Analysis of 116-260 §119 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
120 |
Exclusion for Certain Employer Payments of Student Loans |
127 |
No |
17151 |
12/27/2020 |
Payments made after 12/31/2020 and before 1/1/2026 |
Consolidated Appropriations Act, 2021, page 1870 |
Analysis of 116-260 §120 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
121 |
Extension of Carbon Oxide Sequestration Credit |
45Q |
No |
N/A |
12/27/2020 |
12/27/2020 |
Consolidated Appropriations Act, 2021, page 1870 |
Analysis of 116-260 §121 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
131 |
Credit for Electricity Produced from Certain Renewable Resources |
45, 48 |
No |
N/A |
01/01/2021 |
01/01/2021 |
Consolidated Appropriations Act, 2021, page 1871 |
Analysis of 116-260 §131 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
132 |
Extension and Phaseout of Energy Credit |
48 |
No |
N/A |
01/01/2020 |
01/01/2020 |
Consolidated Appropriations Act, 2021, page 1871 |
Analysis of 116-260 §132 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
133 |
Treatment of Mortgage Insurance Premiums as Qualified Residence Interest |
163 |
No |
17225 |
12/27/2020 |
For amounts paid or accrued after 12/31/2020. |
Consolidated Appropriations Act, 2021, page 1872 |
Analysis of 116-260 §133 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
134 |
Credit for Health Insurance Costs of Eligible Individuals |
35 |
No |
N/A |
12/27/2020 |
Months beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1872 |
Analysis of 116-260 §134 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
135 |
Indian Employment Credit |
45A |
No |
N/A |
12/27/2020 |
Taxable years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1872 |
Analysis of 116-260 §135 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
136 |
Mine Rescue Team Training Credit |
45N |
No |
N/A |
12/27/2020 |
Applies to taxable years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1872 |
Analysis of 116-260 §136 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
137 |
Classification of Certain Race Horses as 3-Year Property |
168 |
No |
17201, 17250, 24349 |
12/27/2020 |
Property placed in service after 12/31/2020 and before 1/1/2022 |
Consolidated Appropriations Act, 2021, page 1872 |
Analysis of 116-260 §137 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
138 |
Accelerated Depreciation for Business Property on Indian Reservations |
168 |
No |
17201, 17250, 24349-24355.4 |
12/27/2020 |
Property placed in service after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1873 |
Analysis of 116-260 §138 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
139 |
American Samoa Economic Development Credit |
Uncodified, amends Section 119 of Division A of the Tax Relief and Health Care Act of 2006 (PL 109-432) |
No |
N/A |
12/27/2020 |
Taxable years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1873 |
Analysis of 116-260 §139 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
140 |
Second Generation Biofuel Producer Credit |
40 |
No |
N/A |
12/27/2020 |
For qualified second generation biofuel production after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1873 |
Analysis of 116-260 §140 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
141 |
Nonbusiness Energy Property |
25C |
No |
N/A |
12/27/2020 |
Property placed in service after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1873 |
Analysis of 116-260 §141 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
142 |
Qualified Fuel Cell Motor Vehicles |
30B |
No |
N/A |
12/27/2020 |
Property purchased after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1873 |
Analysis of 116-260 §142 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
143 |
Alternative Fuel Refueling Property Credit |
30C |
No |
N/A |
12/27/2020 |
Property placed in service after 12/31/2020, and on or before 12/31/2021 |
Consolidated Appropriations Act, 2021, page 1873 |
Analysis of 116-260 §143 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
144 |
2-Wheeled Plug-In Electric Vehicle Credit |
30D |
No |
N/A |
12/27/2020 |
Vehicles acquired after 12/31/2020, and before 1/1/2022 |
Consolidated Appropriations Act, 2021, page 1873 |
Analysis of 116-260 §144 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
145 |
Production Credit for Indian Coal Facilities |
45 |
No |
N/A |
12/27/2020 |
Coal produced after 12/31/2020, and on or before 12/31/2021 |
Consolidated Appropriations Act, 2021, page 1873 |
Analysis of 116-260 §145 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
146 |
Energy Efficient Homes Credit |
45L |
No |
N/A |
12/27/2020 |
Homes acquired after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1874 |
Analysis of 116-260 §146 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
147 |
Extension of Excise Tax Credits Relating to Alternative Fuels |
6426, 6427 |
N/A |
N/A |
12/27/2020 |
Applies to fuel sold or used after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1874 |
Analysis of 116-260 §147 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
148 |
Extension of Residential Energy-Efficient Property Credit and Inclusion of Biomass Fuel Property Expenditures |
25C and 25D |
No |
N/A |
12/27/2020 |
Property placed in service after 12/31/2020, or for qualified biomass fuel property, expenditures paid or incurred in taxable years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1874 |
Analysis of 116-260 §148 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
149 |
Black Lung Disability Trust Fund Excise Tax |
4121 |
N/A |
N/A |
12/27/2020 |
Applies to sales after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1875 |
Analysis of 116-260 §149 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
201 |
Minimum Low-Income Housing Tax Credit Rate |
42 |
No |
17057.5, 17058, 23610.4, 23610.5 |
12/27/2020 |
Allocations of housing credit dollar amounts and financed obligations issued after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1875 |
Analysis of 116-260 §201 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
202 |
Depreciation of Certain Residential Rental Property over 30-Year Period |
Uncodified, affecting the Tax Cuts and Jobs Act, PL 115-97, section 13204 and IRC section 168. |
No |
17201 and 24349 |
12/27/2020 |
Taxable years beginning after 12/31/2017 |
Consolidated Appropriations Act, 2021, page 1875 |
Analysis of 116-260 §202 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
203 |
Waste Energy Recovery Property Eligible for Energy Credit |
48 |
No |
N/A |
12/27/2020 |
Periods after December 31, 2020, under rules similar to the rules of IRC section 48(m) as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990 (PL 101-508) |
Consolidated Appropriations Act, 2021, page 1876 |
Analysis of 116-260 §203 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
204 |
Extension of Energy Credit for Offshore Wind Facilities |
48 |
No |
N/A |
12/27/2020 |
Periods after 12/31/2016, under rules similar to the rules of IRC section 48(m) as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990 (PL 101-508). |
Consolidated Appropriations Act, 2021, page 1876 |
Analysis of 116-260 §204 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
205 |
Minimum Rate of Interest for Certain Determinations Related to Life Insurance Contracts |
7702 |
No |
17020.6, 23045 |
12/27/2020 |
Contracts issued after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1877 |
Analysis of 116-260 §205 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
206 |
Clarifications and Technical Improvements to CARES Act Employee Retention Credit |
Uncodified, amends Section 2301 of the CARES Act and Section 7A of the Small Business Act |
No |
N/A |
03/27/2020 |
Wages paid after 3/12/2020
In addition, certain amounts from earlier quarters may be claimed in the fourth quarter of 2020. This will apply only for employers that did not apply the law consistently with the retroactive changes. |
Consolidated Appropriations Act, 2021, page 1878 |
Analysis of 116-260 §206 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
207 |
Extension and Modification of Employee Retention and Rehiring Tax Credit |
Uncodified, affecting the Coronavirus, Aid, Relief, and Economic Security Act (CARES Act), section 2301, and IRC Subtitle A (commencing with section 1) and sections 3111 and 3221 |
N/A |
N/A |
12/27/2020 |
Calendar year quarters beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1880 |
Analysis of 116-260 §207 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
208 |
Minimum Age for Distributions during Working Retirement |
401 |
Yes |
17501, 24601 |
12/27/2020 |
Distributions made before, on, or after 12/27/2020 |
Consolidated Appropriations Act, 2021, page 1884 |
Analysis of 116-260 §208 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
209 |
Temporary Rule Preventing Partial Plan Termination |
Uncodified, affecting IRC sections 401, 411 |
Yes |
17501, 24601 |
12/27/2020 |
For plan years that include the period beginning 3/13/2020 and ending 3/31/2021, if the number of active participants covered by the plan on 3/31/2021 is at least 80 percent of the number of active participants covered by the plan on 3/13/2020. |
Consolidated Appropriations Act, 2021, page 1885 |
Analysis of 116-260 §209 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
210 |
Temporary Allowance of Full Deduction for Business Meals |
274 |
No |
17201, 24443 |
12/27/2020 |
Amounts paid or incurred after 12/31/2020 and before 1/1/2023 |
Consolidated Appropriations Act, 2021, page 1885 |
Analysis of 116-260 §210 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
211 |
Temporary Special Rule for Determination of Earned Income |
Uncodified, affecting IRC sections 24, 32, 61, and 6213 |
No |
17052 |
12/27/2020 |
First taxable year that begins in 2020 |
Consolidated Appropriations Act, 2021, page 1885 |
Analysis of 116-260 §211 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
212 |
Certain Charitable Contributions Deductible by Non-Itemizers |
62, 63, 170, 6662, 6751 |
No |
17024.5, 17072, 17201 |
12/27/2020 |
Taxable years beginning after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1886 |
Analysis of 116-260 §212 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
213 |
Modification of Limitations on Charitable Contributions |
Uncodified, affecting Coronavirus Aid, Relief, and Economic Security Act (CARES Act), PL 116-136, section 2205, and IRC section 170. |
No |
17201, 17275.2, 17275.3, 17275.5, 24357 – 24359.1 |
12/27/2020 |
Contributions made after 12/31/2020 |
Consolidated Appropriations Act, 2021, page 1887 |
Analysis of 116-260 §213 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
214 |
Temporary Special Rules for Health and Dependent Care Flexible Spending Arrangements |
Uncodified, affecting IRC sections 21, 106, 125, and 126 |
No |
17131 |
12/27/2020 |
For Health flexible spending arrangement (FSA) and dependent care FSA plan years 2020 and 2021 |
Consolidated Appropriations Act, 2021, page 1887 |
Analysis of 116-260 §214 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
302 |
Special Disaster-Related Rules for Use of Retirement Funds |
Uncodified, affecting IRC sections 72, 402, 403, 408, 414, 457, 3405 |
Partially |
17071, 17081, 17085, 17085.7, 17501, 24271, 24601 |
12/27/2020 |
Various, see Summary of Federal Change |
Consolidated Appropriations Act, 2021, page 1889 |
Analysis of 116-260 §302 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
303 |
Employee Retention Credit for Employers Affected by Qualified Disasters |
Uncodified, affecting IRC Subtitle A (commencing with section 1) and section 38 |
No |
N/A |
12/27/2020 |
For qualified wages beginning on the date on which a trade or business first became inoperable as a result of the disaster at the employee’s principal place of employment immediately before the disaster, and ending on the earlier of the date on which the trade or business resumed significant operations at the employee’s principal place of employment, or 150 days after the last day of the disaster incident period. |
Consolidated Appropriations Act, 2021, page 1894 |
Analysis of 116-260 §303 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
304 |
Other Disaster-Related Tax Relief Provisions |
Uncodified, affecting Coronavirus Aid, Relief, and Economic Security Act (CARES Act), PL 116-136, section 2205, and IRC sections 165 and 170. |
No |
17201, 17204, 24357 – 24359.1 |
12/27/2020 |
Contributions paid beginning on 1/1/2020 and ending 60 days after 12/27/2020
Personal casualty losses arising in a qualified disaster area, on or after the first day of the incident period of a related qualified disaster |
Consolidated Appropriations Act, 2021, page 1898 |
Analysis of 116-260 §304 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
305 |
Low-Income Housing Tax Credit |
Uncodified, affecting IRC section 42 |
No |
17057.5, 17058, 23610.4, 23610.5 |
12/27/2020 |
Calendar years 2021 and 2022, and qualified disaster areas beginning on 1/1/2020, and ending on the date which is 60 day after 12/27/2020 |
Consolidated Appropriations Act, 2021, page 1899 |
Analysis of 116-260 §305 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
102 |
Disclosures to Identify Tax Receivables Not Eligible for Collection Pursuant to Qualified Tax Collection Contracts |
6103, 7213 |
No |
19542-19547, 19549, 19551-19555, 19559, 19561, 19562, 19565 |
12/27/2020 |
Disclosures made on or after 12/27/2020 |
Consolidated Appropriations Act, 2021, page 1902 |
Analysis of 116-260 §102 |
2020 |
116-260 |
Consolidated Appropriations Act, 2021 |
103 |
Modification of Certain Protections for Taxpayer Return Information |
6103 |
No |
19542-19547, 19549, 19551-19555, 19559, 19561, 19562, 19565 |
12/27/2020 |
Disclosures made after 12/19/2019, the date of the enactment of the FUTURE Act (Public Law 116–91). |
Consolidated Appropriations Act, 2021, page 1903 |
Analysis of 116-260 §103 |