Senator Reid’s Senior Advisor on tax and business will be speaking along with Regional  Administrator  Daniel P. Hannaher for the Small Business Administration Region 8 out of Denver.

Topics to be covered include  incentives and programs such as the Hiring Incentives to Restore Employment (HIRE) Act.  Under the HIRE Act, enacted March 18, 2010, two new tax benefits are available to employers who hire certain previously unemployed workers.

WHEN:
Tuesday, August 10, 2010
10 a.m.

WHERE:
Cathexes Architecture
250 Bell Street
Reno, Nevada

Space at this event is limited.
Please RSVP to Senator Reid’s Reno office at 775-686-5750

Victor Hugo Mercado
Regional Representative
Office of United States Senator Harry Reid

On December 19, 2009, President Obama signed a new law amending the COBRA subsidy provisions of the American Recovery and Reinvestment Act of 2009 (“ARRA”).  Under the ARRA, individuals who were involuntarily terminated during the coverage period from September 1, 2008 through December 31, 2009, and were eligible for continuation of health care benefits pursuant to COBRA, could have 65% of their COBRA premium subsidized by the federal government for up to nine months.  The Department of Defense Appropriations Act 2010 amends the ARRA to extend the coverage period during which a termination occurs by two months, through February 28, 2010.  In addition, the new law also extends the maximum period for receiving the subsidy by an additional six months, for a total of fifteen months.  Eligible individuals who had reached the end of the initial nine month COBRA subsidy period before amendment of the law will now have an extension of their grace period to pay the reduced COBRA premium.  To continue their coverage, the eligible individual would have to pay 35% of the premium by February 17, 2010, or, if later, within thirty days after notice of the extension is provided by the plan administrator.  Similarly, individuals who lost the COBRA subsidy and paid 100% of the premium in December 2009 can contact their plan administrator or employer to seek a credit applied against future months of COBRA payments or a reimbursement of the overpayment.

Plan administrators or employers sponsoring health plans will be required to provide the COBRA subsidy notices required by the ARRA.  Employers should determine whether the administrator of their health insurance plan or the employer is responsible for providing notices under the COBRA subsidy extension.  More information regarding the COBRA subsidy extension may be found at www.dol.gov/ebsa/cobra.html.

© 2009 Drinkwater Law Offices

WASHINGTON – The U.S. Small Business Administration issued a scam alert today to small businesses, warning them not to respond to letters falsely claiming to have been sent by the SBA asking for bank account information in order to qualify them for federal tax rebates.

The fraudulent letters were sent out with what appears to be an SBA letterhead to small businesses across the country, advising recipients that they may be eligible for a tax rebate under the Economic Stimulus Act, and that SBA is assessing their eligibility for such a rebate. The letter asks the small business to provide the name of its bank and account number.

These letters have not been sent by or authorized by the SBA, and all small businesses are strongly advised not to respond to them.

The scheme is similar in many ways to e-mail scams often referred to as “phishing” that seek personal data and financial account information that enables another party to access and individual’s bank accounts or to engage in identity theft.

The SBA is working with the SBA Office of Inspector General to investigate this matter. The Office of Inspector General asks that anyone who receives such a letter report it to the OIG Fraud Line at 1 (800) 767-0385, or e-mail at OIGHotline@sba.gov.