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President Trump signed into law the Small Business Runway Extension Act of 2018 on December 17th, 2018. The Act modified how the SBA calculates a business’ size for revenue-based size standards. The Act also increased the period of time used in the calculation of a firm’s receipts from three years to five.

Regulations implementing the Act go into effect on January 6th, 2020. However, the final rule permits contractors to elect to use either the three-year or five-year period of measurement for certifications submitted on or before January 6th, 2022. The election period is ...

The IRS is giving employers, insurers, and other coverage providers two gifts this holiday season, but one may seem more like a lump of coal. First, the IRS has extended the deadline for employers to furnish Affordable Care Act (“ACA”) reporting forms to employees. Second, the IRS and other agencies have proposed a new rule requiring group health plans and insurers to disclose health coverage cost information to health plan participants. As detailed below, the ACA reporting extension guidance also extended the “good faith relief” standard for reporting errors; ...