Cares Act

COVID-19

Reporting & Audit Requirements for Provider Relief Fund Recipients

The CARES Act established the Provider Relief Fund for qualified providers of heathcare services & support to receive payments for healthcare-related expenses or lost revenue due to COVID-19. The funds come with unique compliance, reporting and audit requirements. 

PPP FAQs
COVID-19

Top Five PPP FAQs

Here are the top five PPP FAQs or most frequently asked questions, as new guidance and enhancements complicate the PPP loan process.

CARES Act Loan Errors
COVID-19

Correcting Retirement Plan CARES Act Loan Errors

Plan sponsors should work with service providers to ensure that CARES Act loans errors as a result of provisions in the Act expiring are crorrected, or take advantage of federal self-correcting programs.

Employee Retention Credit Graphic
COVID-19

IRS Guidance for Claiming the Employee Retention Credit

The IRS is urging employers to take advantage of the newly-extended employee retention credit or ERC – which makes it easier for businesses that have kept employees on the payroll despite challenges presented by COVID-19.

COVID-19

Employee Retention Credit for Nonprofit Employers

In welcome news for nonproft organizations that were not eligible for the ERC in 2020 due to receiving a PPP loan, the Consolidated Appropriations Act, 2021 retroactively eliminates this limitation and extends and enhances the ERC through the first two quarters of 2021.

Recovery Rebate
COVID-19

Individuals: What You Need To Know About The CAA

The CAA or Consolidated Appropriations Act, 2021 includes two tax relief acts that directly impact individual taxpayers. First is the COVID-related Tax Relief Act of 2020 (CRTRA), which provides an additional recovery rebate for individuals. The second is the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTRA).

PPP Loan Expenses Deductible
COVID-19

Are PPP Loan Expenses Deductible ?

IRS addresses the question “are PPP loan expenses deductible ?” in Revenue Ruling 2020-27 but many believe it contradicts intent of Congress.

Unemployment Benefits
CAS

CARES Act: HR & Payroll Highlights

The CARES Act includes various forms of relief for employees and employers. Here are some of the HR and payroll-related highlights:

CARES Act HSA HRA FSA
CAS

CARES Act: HSA, HRA and FSA Impact

The CARES Act created new laws and guidelines, as well as made some revisions to the previously enacted Family First Coronavirus Response Act (FFCRA).

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