COVID-19 Resource Center

Unexpected Employee Retention Credit Refund Delays

Unexpected Employee Retention Credit Refund Delays

The IRS is experiencing continued delays The IRS is currently backlogged with millions of unprocessed payroll tax returns due to the changes in COVID-19 safety protocols and the volume of Employee Retention Credit (ERC) refund requests. As of November 17, 2021, the...

Infrastructure Bill Terminates ERC Earlier Than Expected

Infrastructure Bill Terminates ERC Earlier Than Expected

On Monday, November 15th, President Biden signed into law the bipartisan Infrastructure Bill. The $1.2 trillion bill included a few tax provisions in the legislation, one significant change being the earlier end date for the Employee Retention Credit (ERC). The ERC...

Guidance for Claiming Employee Retention Credit in 2021

Guidance for Claiming Employee Retention Credit in 2021

The IRS has issued guidance for employers claiming the employee retention credit enacted by the American Rescue Plan Act of 2021 (ARP), which provides a credit for wages paid after June 30, 2021, and before January 1, 2022. The guidance amplifies previous notices...

First Deadline for HHS PRF Funds – September 30, 2021

First Deadline for HHS PRF Funds – September 30, 2021

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES) was passed and signed into law. This bill included $100 billion in funding to a Provider Relief Fund (PRF) for aid during the COVID-19 pandemic. The fund is managed by the Office of the...

CARES Act Provider Relief Fund Reporting Update

Congress provided relief for Americans, businesses, and healthcare institutions through a record stimulus deal in response to the COVID-19 pandemic, The Coronavirus Aid, Relief, and Economic Security Act (CARES). Providers and facilities were granted financial relief...

SBA Issues Loan Forgiveness Procedures for Lenders

Interim Final Rule: Loan Review Procedures and Related Borrower and Lender Responsibilities May 27, 2020 On Friday, May 22, 2020, the Small Business Administration (SBA) published an Interim Final Rule (IFR) relating to the Paycheck Protection Program (PPP). This rule...

SBA Issues Loan Forgiveness Application

May 18, 2020 June 18, 2020 - Additional updates have been made to this program. Please click here for additional information.  On Friday, May 15, 2020, the Small Business Administration (SBA) published the loan forgiveness application, SBA Form 3508, to be completed...

Loan Increases Allowed for Certain PPP Loans

Loan Increases Allowed for Certain PPP Loans

Interim Final Rule: Loan Increases May 14, 2020 On Wednesday May 13, 2020, the Small Business Administration (SBA) published an Interim Final Rule relating to the Paycheck Protection Program (PPP). This item summarized key loan increase provisions of the PPP and...

FAQ 46 Certification Rule Clarity

FAQ 46 Certification Rule Clarity

Subsequent to the publishing of this item, the Treasury/SBA released FAQ 47 which further extends the below discussed certification’s safe harbor to May 18, 2020 here. May 13, 2020 On Friday, April 24, 2020, the Small Business Administration (SBA) published an Interim...

FAQ 45 Considerations

FAQ 45 Considerations

New FAQ Allows Retention Credits if PPP Funds Turned back in by May 14 Subsequent to the publishing of this item, the Treasury/SBA released FAQ 47 which further extends the below discussed certification’s safe harbor to May 18, 2020 here May 7, 2020 The Treasury...

SBA Interim Final Rules and Other Information: An Update

April 29, 2020 Since our last update, the Small Business Administration has published four Interim Final Rules relating to the Paycheck Protection Program (PPP). These items summarized key eligibility components relating to the Paycheck Protection Program and...

PPP Loan Funds and EIDL Grant Amounts Refilled

April 27, 2020 This week Congress provided further relief for businesses and healthcare institutions through additional funding for the record stimulus deal in response to the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security Act (CARES) provided...