Federal

ARPA proposes to help “rescue” nonprofits

No one needs to tell nonprofit organizations how tough the past year has been. According to the John Hopkins Center for Civil Society Studies, 7.7% of not-for-profit workers — nearly one million people — lost their jobs between February 2020 and January 2021. An even higher percentage of arts and education organizations lost jobs last […]

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What’s in the American Rescue Plan Act (ARPA)?

The American Rescue Plan Act, 2021 (ARPA) was signed by President Biden on March 11, 2021 to help businesses, nonprofits and individuals affected by COVID-19. The legislation extends and expands provisions found in the Families First Coronavirus Relief Act (FFCRA), Coronavirus Aid, Relief and Economic Security (CARES) Act, and the Consolidated Appropriations Act, 2021 (CAA, […]

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New Guidance on Employee Retention Credit

On March 2, 2021, the U.S. Department of the Treasury (Treasury) and IRS released Notice 2021-20 (Notice), which provides guidance on the Employee Retention Credit (ERC) under the Coronavirus Aid, Relief, and Economic Security Act (CARES). The ERC is a refundable payroll tax credit for employers who experienced either the full or partial suspension of […]

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Updated PPP Rules and New Forms

In February, several changes were made to the Paycheck Protection Program (PPP). On March 3, 2021, the Small Business Administration (SBA) released an interim final rule (IFR) providing guidance on those changes. They also issued new/updated application forms and updated the frequently asked questions (FAQs) on their site. This new guidance addresses borrowers who file […]

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