Federal

Claim the Employee Retention Tax Credit

The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules. Background In March of 2020, Congress originally enacted the ERTC in the CARES Act to encourage employers to hire and retain […]

Read the full article

SBA Plans to Make Loan Forgiveness Easier

UPDATE: The SBA has officially dropped the PPP Loan Necessity Questionnaire from the forgiveness process. Read the updated article. There are recent reports that the Small Business Administration intends to withdraw the use of a controversial Paycheck Protection Program loan questionnaire ( SBA Form 3509, Paycheck Protection Program Loan Necessity Questionnaire (For-Profit Borrowers), and SBA Form 3510, Paycheck Protection […]

Read the full article

Revised PRF Reporting Requirements including Extended Time to Expend Some Funds

Breaking News:   HHS has just provided more guidance on Provider Relief Fund (PRF) reporting and revised the Reporting Requirements. This new version supersedes all previous versions of the Post-Payment Notice of Reporting Requirements documents. Key updates include: The period of availability of funds is based on the date the payment is received (rather than requiring […]

Read the full article

Congress asks HHS to extend deadline to expend PRF funds and clarify guidance

As the June 30, 2021 deadline to expend Provider Relief Fund (PRF) draws near, there is still conflicting guidance and no reporting mechanism deadline. In addition, there are still billions of dollars in the PRF yet to be distributed. Hopefully, good news is on the horizon. On May 11, 2021, 79 Members of Congress wrote […]

Read the full article

Tax Credits for Employers Providing Paid Leave Related to COVID-19 Vaccinations

The American Rescue Plan Act of 2021 (ARPA) allows businesses (including tax-exempt organizations), with fewer than 500 employees, to claim refundable tax credits for the cost of providing paid sick and family leave to their employees due to COVID-19, including leave taken by employees to receive or recover from COVID-19 vaccinations. The tax credits are […]

Read the full article