Resources For Employers
COVID-19 RESOURCE CENTER
IRS Provides Guidance on Temporary 100% Expense Deduction for Meals
The IRS has released guidance explaining when the temporary 100% deduction for restaurant meals is available and when the 50% limitation on the deduction for food and beverages continues to apply for Sec. 274 purposes (Notice 2021-25). The Consolidated Appropriations...
SBA Restaurant Revitalization Fund (RRF) Registration Portal Opens April 30
The recently passed American Rescue Plan Act (ARPA) established a $28.6 billion Restaurant Revitalization Fund (RRF) with the Small Business Administration (SBA). The RRF will provide funding for eligible entities equal to their pandemic-related revenue loss up to $10...
From FFCRA to ARPA: The latest on paid COVID-related leave
The Families First Coronavirus Response Act (FFCRA) was one of the first major laws enacted in response to the COVID-19 pandemic. It allows employees paid sick time and paid family leave time to care for themselves or loved ones during the ongoing health crisis. As of...
COBRA Provisions Play Critical Role in COVID-19 Relief Law
During the COVID-19 pandemic, many employees and their families have lost group health plan coverage because of layoffs or reduced hours. If your business has had to take such steps, and it’s required to offer continuing health care coverage under the Consolidated...
PPP Application Deadline Extended to May 31, 2021
The PPP Extension Act of 2021 extends the Paycheck Protection Program (PPP) application filing deadline from March 31, 2021, to May 31, 2021, thus providing potential PPP borrowers additional time to submit their applications. The law also gives the SBA an additional...
The American Rescue Plan Act has passed: What’s in it for you?
Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic that has haunted the country for the last year. President Biden is expected to sign the 628-page American Rescue Plan Act (ARPA), which includes $1.9...
Pennsylvania Businesses and Nonprofit Organizations: Protect Your Business Name | Pennsylvania Decennial Filing Due This Year
The Pennsylvania Decennial Filing or Report is a report of an entity’s continued existence or use of certain marks. Decennial filings are made every ten years during the years ending with the numeral “1” (i.e., “2021”). As of January 15, 2021, the Pennsylvania...
Many tax amounts affecting businesses have increased for 2021
A number of tax-related limits that affect businesses are annually indexed for inflation. Many have increased for 2021, while some have stayed the same due to low inflation. Here’s a rundown of those that may be important to you and your business. Social Security tax...
Important Update Regarding the Employee Retention Credit (ERC)
In recent blasts, and during our live webinar on January 21, we touched on various provisions of the Consolidated Appropriations Act (CAA) which was enacted December 27, 2020. Many parts of this Act revolved around extensions or changes to provisions offered in the...
How can your business benefit from the Consolidated Appropriations Act?
The Consolidated Appropriations Act of 2021 (CAA) was signed into law in late December. The sprawling legislation contains billions of dollars in additional stimulus funding in response to the COVID-19 pandemic. Let’s take a closer look at the provisions that are most...
LIVE WEBINAR January 21 at 1 pm | Consolidated Appropriations Act, 2021: Its Impact on Employers
On December 27, 2020, the Consolidated Appropriations Act, 2021 was signed into law. What are the immediate opportunities for your business, and what will the potential changes mean to you? Join us for a free, live, one-hour webinar as we unpack the portions of this...
New Legislation Brings New Paycheck Protection Program (PPP) Funding
Happy New Year! As we bid farewell to 2020 (don’t let the door hit you on the way out) and enter what will hopefully be the home stretch of this pandemic, our friends in Congress issued some “light” holiday reading with passage of the Consolidated Appropriations Act,...
IRS Releases 2021 Standard Mileage Rates
The IRS released the optional standard mileage rates for 2021. Most taxpayers may use these rates to calculate deductible costs of operating vehicles for business, medical, and charitable purposes. The standard mileage rates for 2021 are: 56 cents per mile for...
New Bill Addresses Paycheck Protection Program (PPP) Expense Deductibility, New Round of PPP Loans, Extended Sick Leave Benefits and More Stimulus Payments
Late Monday night, Congress passed a $900 billion Coronavirus relief bill. The President is expected to sign it once it reaches his desk. This bill is massive coming in at 5,593 pages. Following is a quick summary of the items most pertinent to our clients. PPP...
Paycheck Protection Program (PPP) Loan Forgiveness: Action from Congress May Be Imminent
We hope you are safe and well and still enjoying this holiday season although it is very different from past years. As we rapidly approach year-end we know many of you are eager to file your PPP loan forgiveness application. As you may have heard, there is a proposed...
Paycheck Protection Program (PPP) Loan Forgiveness: Apply Now or Wait?
The Small Business Administration (SBA) and Treasury Department have recently issued additional guidance on PPP loans and released a simplified loan forgiveness application for PPP borrowers with loans under $50,000. We realize many of you are wondering if you should...
IRS Issues Guidance on Executive Order to Defer Payroll Taxes
Late Friday, the IRS issued Notice 2020-65 entitled Relief with Respect to Employment Tax Deadlines Applicable to Employers Affected by the Ongoing Coronavirus (COVID-19) Disease 2019 Pandemic. This Notice provides guidance to employers on how to implement the...
NEW PPP Loan Forgiveness Guidance
NEW Paycheck Protection Program (PPP) Loan Forgiveness Guidance A new interim final rule was released last night addressing several issues related to the qualification of certain expenses for PPP loan forgiveness. The first provision of the new rule provides that the...
IRS Notices: What You Need to Know
Did you receive a notice from the IRS advising you that you owe money for your 2019 tax return? Had you already paid the amount being requested? Unfortunately you are not alone. The IRS is currently working through an enormous backlog of mail due to the Coronavirus...
How the Executive Order to Defer Payroll Taxes Impacts Employers and Employees
After Congress failed to act with additional economic relief legislation, the President issued four executive orders this past weekend. The most significant order provides for a deferral of payroll taxes. The remaining three orders address increased unemployment...
Pennsylvania Department of Community and Economic Development (DCED) Establishes “COVID-19 PA Hazard Pay Grant Program”
The Pennsylvania Department of Community and Economic Development (DCED) has established the “COVID-19 PA Hazard Pay Grant Program” which has been designed to assist employers in paying additional hazard pay to life-sustaining business “front-line workers” during the...
Paycheck Protection Program (PPP) Extended
The Paycheck Protection Program resumed accepting applications after passage of the Paycheck Protection Program Extension Act. This new Act re-opened the application window for new loans until August 8. You may recall the previous deadline to apply was June 30. The...
COVID-19 Relief Pennsylvania Statewide Small Business Assistance
Governor Wolf recently announced a relief package for Pennsylvania small businesses. The COVID-19 Relief Pennsylvania Statewide Small Business Assistance program will provide grants ranging between $5,000 and $50,000 to small businesses that have been economically...
U.S. Treasury Releases NEW Paycheck Protection Program (PPP) Loan Forgiveness Applications
Earlier this week, the Treasury Department released a new Paycheck Protection Program (PPP) Loan Forgiveness Application. You can access the application here and the related filing instructions here. The revision was necessary to take into account the changes made to...
Update on Paycheck Protection Program (PPP) Loan Forgiveness and Main Street Lending Program
Loan Forgiveness Relief Last week we told you about the recently-passed Paycheck Protection Program Flexibility Act. One of the favorable provisions in this law was reducing the requirement that 75% of a borrower’s loan proceeds be used on payroll costs. The new limit...
Congress Passes Paycheck Protection Program Flexibility Act
We hope you are continuing to stay safe and healthy as Southeastern Pennsylvania plans to move into the “Yellow” phase of reopening. We’re pleased to report that good news for business owners arrived late last evening when the Senate passed the Paycheck Protection...
Guidance for Completing the SBA Paycheck Protection Program (PPP) Loan Forgiveness Application
As we communicated earlier, the SBA recently released its PPP loan forgiveness application, which you can access here. This 11-page document includes filing instructions that answer many but not all the questions borrowers have on the…
SBA Issues Paycheck Protection Program (PPP) Loan Forgiveness Application
Over the past weekend the U.S. Treasury along with SBA issued the long-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application which can be found here. This application is subject to change and many unanswered questions remain. We anticipate additional...
Bucks County Back To Work Small Business Grant
The Bucks County Board of Commissioners has allocated $6 million to establish the Bucks Back to Work Small Business Grant program which will provide grants up to $25,000 or 25% of annual operating expenses (whichever is lower). The program fact sheet can be found here. Applicants must be…
SBA Allows Increased Paycheck Protection Program (PPP) Loans to Partnerships and Seasonal Employers
On April 14, 2020, after many borrowers had already submitted their PPP loan applications, the SBA issued guidance for individuals with self-employment income. This rule prohibited partners in a partnership from submitting a loan application for themselves. Instead,...
Links to Government Resources
U.S. Small Business Administration (SBA) Paycheck Protection Program Loans FAQs
U.S. Small Business Administration Three-Step Process: SBA Disaster Loans
PA Department of Labor Form UC-1921W Refusal of Suitable Work Notification
PA Employer UC & COVID-19 FAQs
PA Department of Community and Economic Development
US Department of Labor (DOL) Poster for Employers
US Department of Labor (DOL) Families First Coronavirus Response Act: Questions & Answers
PA Industry Operation Guidance
(Life-Sustaining Businesses)
Bucks Back to Work Small Business Grant
Montgomery County MontCo Strong Small Business Grant Program: Eligible small businesses in Montgomery County can apply for up to $25,000 to help with making rent or mortgage payments, meeting payroll expenses, and covering utility bills.