HR 8083 · 116th Congress · Taxation
Preserving Employee Retirement Savings Act of 2020
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2020-08-21)
Plain Language Summary
[AI summary unavailable — showing source text]
Preserving Employee Retirement Savings Act of 2020 This bill allows an employer that has a temporary substantial business hardship and, if not a tax-exempt or cooperative organization, does not have more that $41.5 million in gross receipts a tax credit for 20% of retirement contributions made to employee retirement accounts. The amount of such credit for any employer may not exceed $100,000 in any taxable year.…
Summarized by Claude AI · Non-partisan · For informational purposes only