COVID-19: Special Disaster Benefits for Employees Under current law and the proposed Coronavirus Aid, Relief, and Economic Security (CARES) Act, employers can offer a cluster of special benefits to employees in the event of a disaster such as the COVID-19 pandemic. Available disaster benefits discussed in our latest alert include: - Tax-free emergency payments under Code section 139,
- Leave cashouts and leave sharing programs,
- Hardship withdrawals from 401(k) plans, and
- Loans from 401(k) plan accounts.
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