• The Internal Revenue Service announced this morning that an increased number of taxpayers impacted by the coronavirus pandemic are now qualified to receive distributions or loans from retirement plans. The CARES Act allows for qualified individuals to treat up to $100,000 in distributions made from their eligible retirement plans (including IRAs) between Jan. 1 and Dec. 30, 2020, as coronavirus-related distributions, according to WBRZ-TV.
• The White House has embraced a declaration by a group of scientists arguing that authorities should allow the coronavirus to spread among young healthy people while protecting the elderly and the vulnerable—an approach that would rely on arriving at “herd immunity” through infections rather than a vaccine, according to The New York Times. Many experts say “herd immunity”—the point at which a disease stops spreading because nearly everyone in a population has contracted it—is still far away.
• AMC Entertainment Holdings Inc., the world’s largest movie-theater company, may run out of cash by year’s end if it doesn’t raise additional funds or get more people back to theaters following pandemic shutdowns, The Wall Street Journal reports. AMC says it has reopened 83% of its U.S. theaters, but that attendance is down about 85% at those theaters from the year before.
Read more stories on how the coronavirus is impacting the Baton Rouge business community. See a roundup of resources available to those impacted by the pandemic. Click here to see a 225 magazine list of local restaurants offering patio seating or indoor dining during phase three of reopening.