We came across a few interesting articles this week on some major topics we wanted to share: First, the American Rescue Plan Act, signed into law on March 11, contains several key provisions to help struggling businesses and workers during the coronavirus pandemic. Furthermore, it allocates a total of $50 billion to small businesses including…
Hope you’re having a great weekend! Here’s a brief summary of some of the changes coming out of DC: American Rescue Plan Highlights for Employers: An extension of the Employee Retention Tax Credit through the 3rd and 4th quarters of 2021. An extension of the tax credits for voluntarily providing FFCRA paid sick and family…
BREAKING NEWS! The House of Representatives passed the next COVID-19 stimulus bill at $1.85 trillion. On a strictly bipartisan basis, 100% democrats voted for it and 100% republicans voted against it. It now moves to the White House for President Biden’s signature, which is expected by Friday. Furthermore, here’s what we learned during our NAPEO…
The IRS finally released some FAQs on ERTC with details on how to take advantage of the tax credit program even if your company took the PPP loan. Delta is here if you have any questions about how to apply or if you’d like to find out if you’re eligible. As expected, the proposed $1.9…
Big news out of DC! Congress is about to pass its latest 600-page stimulus package that will dole out almost $2 trillion to various sectors, all under the pretense of COVID-19 relief. Much of what is coming is going to be helpful to the small business community and Americans that have been struggling throughout the…
On Monday, President Biden announced several administrative changes to the Paycheck Protection Program (PPP), increasing lending to small businesses in need and promoting more equitable access. A complete listing of the Small Business Administration’s COVID-19 resources can be found here. Here are some of the key highlights: Establishes a 14-day, exclusive PPP loan application for…
This week, the NAPEO Federal Affairs Committee invited another guest speaker from the US Chamber of Commerce, Marc Freedman, to our weekly meeting. As VP of Employment Policy, his responsibility is to lobby Congress on behalf of the Chamber on all things relating to employment. First, Mr. Freedman reviewed the current and forthcoming appointments that…
If you’re unfamiliar with the financial relief provisions available from the government, eligible companies with a loss of revenue in 2020 vs 2019 meeting the criteria have the option to receive tax credits for employee retention (ERTC). Our national association (NAPEO) created a one-page ERTC overview for those considering taking advantage of this tax credit….
Today’s NAPEO Federal Affairs Committee call featured a highly ranked guest speaker from the US Chamber of Commerce who shared some inside information about what’s going on in DC. In his recent meeting with President Biden and his staff, they discussed his administration’s agenda for the business community and reviewed some of the ways in…
In partnership with NAPEO, we created this video to outline the recently enacted legislation on PPP loans and forgiveness as well as some of the new forms issued to simplify things for qualified borrowers.
