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Just launched: The SBA’s Paycheck Protection Program
To stem the tide of joblessness caused by the coronavirus (COVID-19) outbreak, the Small Business Administration (SBA) has officially launched the Paycheck Protection Program (PPP). The program’s stated objective is “to provide a direct incentive for small businesses...
CARES ACT changes retirement plan and charitable contribution rules
As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of a tax law passed on March 27. The Coronavirus Aid, Relief, and Economic...
EEOC guidance addresses screening employees for COVID-19
The coronavirus (COVID-19) outbreak has changed the way most employers are interacting with their employees. Many organizations have sent employees home to work remotely, but this isn’t feasible in every industry. If you still need to run an office or operate a...
CARES Act offers new hope for cash-strapped nonprofits
On March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. How is this massive $2 trillion recovery package poised to help your not-for-profit organization? It depends on your group’s size, financial condition, and other factors....
What COVID-19 legislation means for nonprofits and their staffers
Whether your not-for-profit is newly deluged with demand for services or you’ve closed doors temporarily, it’s important to keep up with legislation responding to the coronavirus (COVID-19) crisis. On March 18, the Families First Coronavirus Response Act was signed...
SBA offering disaster loans to small businesses hit hard by COVID-19
Every company has faced unprecedented challenges in adjusting to life following the widespread outbreak of the coronavirus (COVID-19). Small businesses face particular difficulties in that, by definition, their resources — human, capital and otherwise — are limited....
CARES Act provides businesses with more COVID-19 tax relief
On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Employee...
Cash payments and tax relief for individuals in new tax law
Cash payments and tax relief for individuals in the new law A new law signed by President Trump on March 27 provides a variety of tax and financial relief measures to help Americans during the coronavirus (COVID-19) pandemic. This article explains some of the tax...
Employee leave under the Families First Coronavirus Response Act
Congress passed and the president signed into law the Families First Coronavirus Response Act on March 18. The law allows employees time to care for themselves or loved ones and includes provisions for new tax credits to offset employers’ costs. But the immediate need...
Coronavirus (COVID-19) tax and other relief for individuals
Taxpayers now have more time to file their tax returns and pay any tax owed because of the coronavirus (COVID-19) pandemic. The Treasury Department and IRS announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15,...
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