What You Should Know About the Employee Retention Credit (ERC)

EMPLOYEE RETENTION CREDIT (ERC) The CAA legislation provided some important updates to the Employee Retention Credit. Not only did this legislation extend the credit thru June 30 2021 but the credit is now retroactively available for all entities that paid wages during the periods of March 12 through December 31, 2020.    2020 CREDIT (AVAILABLE […]

Recent HHS Updates – Provider Relief Fund Payment Changes

On June 11, 2021, HHS updated the reporting requirements for recipients of Provider Relief Fund payments. The new notice supersedes the Post Payment Reporting Requirements Notice released on January 15, 2021. The changes per the June 11, 2021 notice include:   The period for using the funds on (1) qualified expenses related to preventing, preparing for, […]

Recent HHS Updates – Provider Relief Fund Payment Changes

On June 11, 2021, HHS updated the reporting requirements for recipients of Provider Relief Fund payments. The new notice supersedes the Post Payment Reporting Requirements Notice released on January 15, 2021. The changes per the June 11, 2021 notice include:   The period for using the funds on (1) qualified expenses related to preventing, preparing for, […]

What You Should Know About the Employee Retention Credit (ERC)

EMPLOYEE RETENTION CREDIT (ERC) The CAA legislation provided some important updates to the Employee Retention Credit. Not only did this legislation extend the credit thru June 30 2021 but the credit is now retroactively available for all entities that paid wages during the periods of March 12 through December 31, 2020.    2020 CREDIT (AVAILABLE […]

PAYCHECK PROTECTION PROGRAM (PPP) LOAN – ROUND 2

PAYCHECK PROTECTION PROGRAM (PPP) LOAN – ROUND 2 REQUIREMENTS The business must have fewer than 300 employees, including sole proprietors and other self-employed individuals. The business must have used or will use all of the original PPP Loan funds received The business must demonstrate not less than a 25% reduction in gross receipts for any […]

COVID-19 – 07-01-20 BULLETIN RELEASE – PPP Loan Forgiveness & Provider Relief Fund

Forgiveness Application After much anticipation, the SBA has released new forgiveness applications and additional guidance regarding the recent changes put in place with the Paycheck Protection Program Flexibility Act (PPPFA). The SBA provided two applications and related instructions – the abbreviated Form 3508EZ and the detailed Form 3508. Both applications clearly allow for the 24-week […]

COVID-19 – 06-10-20 BULLETIN RELEASE – PPP Loan – Revised Flexibility Act

Looking back at the COVID whirlwind, the original PPP loan legislation was rapidly drafted and signed into law the week of March 23, 2020, which was concurrent with many State Governor’s forcing business closures and issuing stay at home orders due to COVID. The timing of these events was a disaster to the PPP loan […]

COVID-19 – 05-19-20 BULLETIN RELEASE – PPP Loan Forgiveness Further Guidance

Late in the day, Friday, May 15, 2020, the SBA came out with the instructions and application borrowers will use to request PPP loan forgiveness from their lender. While this new information provides some welcomed relief to pieces of the forgiveness puzzle for many, it falls short in answering all outstanding questions that still remain […]

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