COVID-19

New PPP Rules, Applications, and Loan Forgiveness Revealed

New PPP Loan Forgiveness Application The US Small Business Administration (SBA) and Treasury updated their loan forgiveness forms on January 19, 2021. Among these is the PPP Loan Forgiveness Application Form 3508S, for those whose PPP loan was $150,000 or less. Form 3508S requires info on the borrower’s loan amount, disbursement date, employee totals, covered […]

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Provider Relief Fund Reporting Delayed and Reporting Requirements Updated

Today the U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA) issued a news release announcing a delay to the February 15, 2021 reporting deadline for the Provider Relief Fund Program (PRF) due to the recent passage of the Coronavirus Response and Relief Supplemental Appropriations Act.  Beginning today, […]

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OMB Compliance Supplement Addendum & Single Audit Applicability of Provider Relief Funds (PRF) & Coronavirus Relief Funds (CRF)

The Office of Management and Budget (OMB) released an addendum to the 2020 Compliance Supplement on December 22, 2020. This addendum provides important updates to COVID-19 related federal funding and the impact to Single Audits. This addendum is effective for fiscal years beginning after June 30, 2019 (i.e. June 30, 2020 fiscal years and later). […]

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Can your business benefit from the Employee Retention Tax Credit?

COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligible for a refundable Employee Retention Tax Credit, which was extended and enhanced in the latest law. Background on Employee Retention Tax Credit  The CARES Act, enacted in March of 2020, created the Employee Retention […]

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