Coronavirus (COVID-19) Resource Center
As the coronavirus (COVID-19) pandemic continues to evolve, be assured that the health and well-being of our employees, clients, colleagues and their families are of utmost importance to us. The rapid outbreak is an alarming health crisis that the world is grappling with, and it is also having a significant commercial impact that’s being felt globally. As your trusted strategic advisor, we have created our Coronavirus Resource Center to help disseminate important information for clients and friends as we evaluate ways to mitigate the inevitable financial effects. Our focus is to help you position yourself and your business to be resilient in the face of this threat.
Employee Retention Tax Credit
The Consolidated Appropriations Act, 2021 (CAA), enacted in December of 2020, provided a number of provisions designed to assist individuals and businesses impacted by the COVID-19 pandemic. One of the significant opportunities in the CAA is the extension and enhancement of the Employee Retention Credit (ERC), which was introduced in the CARES Act. Our Employee Retention Credit Guide addresses the key changes in the ERC and how employers can realize these savings.
Paycheck Protection Program
Navigating through all the information and understanding the process of tracking the spending of your Paycheck Protection Program funds can be complicated and overwhelming. Visit our Paycheck Protection Program Assistance page to learn more about the program and to download the loan application, loan forgiveness application and the loan forgiveness instructions.
COVID-19 Laws and Related Guidance
U.S. Dept. of Treasury Guidance for PPP
- SBA Frequently Asked Questions about the PPP
- Top-line Overview of First Draw PPP (1/8/2021)
- Top-line Overview of Second Draw PPP (1/8/2021)
- Guidance on Accessing Capital for Minority, Underserved, Veteran and Women-Owned Business Concerns (1/6/2021)
- Paycheck Protection Program Borrowers Guide
- Search Tool: Find an Eligible Lender
- Applicable Affiliation Rules
- How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documentation to Provide – By Business Type (1/17/2021)
- Second Draw PPP Loans – How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide (1/19/2021)
- Loan Forgiveness Factsheet (10/30/2020)
- PPP – Borrower’s Disclosure of Certain Controlling Interests (1/19/2021)
- Guidance on Refinance of EIDL Loans with PPP Loan Proceeds and Lender Remittance of EIDL Refinance Proceeds to SBA (6/22/2020)
Links for COVID-19 Related Information:
- Economic Impact Payments: What you need to know
- Check on the status of your Economic Impact Payment
- FAQ: Employee Retention Credit
- Families First Coronavirus Response Act: Questions and Answers (DOL)
- State Tax Filing Relief Chart
- New York Forward: Industry Guidance on Reopening
- Cybersecurity and Infrastructure Security Agency (CISA) Insights on Risk Management for COVID-19
- Centers for Disease Control and Prevention – COVID-19
- World Health Organization – COVID-19 Updates
- IRS Coronavirus Tax Relief
PPP Loans Have Reopened: Let’s Review the Tax Consequences
The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened..
Can Your Business Benefit From the Enhanced Employee Retention Tax Credit?
COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately...
A Look at What’s in the Second Stimulus Package
On Sunday, December 27, 2020, the Consolidated Appropriations Act, 2021 (H.R. 133) was signed into law.
Don’t Forget About the Payroll Tax Credit
For many businesses, retaining employees has been difficult, if not impossible. If your company...
How Fraud Perpetrators Are Stealing Unemployment Benefits
When Congress authorized an additional $600 in monthly unemployment benefits as part of the CARES Act...
Tips for Mitigating Fraud Risks in a Remote Work World
In connection with local, U.S. and world governments mandating temporary work stoppage and imposed limitations on...
IRS Guidance Provides RMD Rollover Relief
The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic.
Paycheck Protection Program Flexibility Act Makes Significant Changes to the Forgiveness Provisions of PPP Loans
The federal government responded again to further help America’s small businesses weather the financial challenges by pa
Fortunate Enough to Get a PPP Loan? Forgiven Expenses Aren’t Deductible
If you get a PPP loan and use the proceeds on certain expenses, the loan amount will be forgiven. Can you then deduct th
Business Charitable Contribution Rules Have Changed Under the CARES Act
Food and financial insecurity have increased during the coronavirus (COVID-19) pandemic. If your business is donating to
The IRS Clarifies the Deductibility of PPP-Funded Expenses
In Notice 2020-32, the IRS has clarified that deductions for income tax purposes aren’t allowed for expenses that are ot
SBA Extends the PPP Repayment Deadline for Self-Certification
May 14, 2020, is the revised deadline to repay Paycheck Protection Program loans for borrowers who have chosen the Small
New COVID-19 Law Makes Favorable Changes to “Qualified Improvement Property”
A drafting error by Congress meant that some improvements to interior parts of nonresidential buildings had to be deduct
CARES Act for Taxpayers – How to Maximize the Benefits of Retroactive Changes
The CARES Act includes many incentives for both individuals and businesses. With so many dollars at stake, there is lik
Congress Expands Small Business COVID-19 Relief
The just-passed $484 billion Interim Stimulus Plan, among other things, replenishes Paycheck Protection Program funds.
The IRS Announces New COVID-19-Related Assistance for Taxpayers
In the wake of the coronavirus (COVID-19) crisis, the IRS and U.S. Department of Treasury are
The Small Business Administration Launches the Paycheck Protection Program
Loans are now available for eligible small businesses through the Small Business Administration’s Paycheck Protection
Answers to Questions About the CARES Act Employee Retention Tax Credit
As a business with employees, you may have questions about the new employee retention tax credit.
CARES Act Provides COVID-19 Pandemic Relief to Businesses
The CARES Act includes several tax-related provisions to help businesses survive the coronavirus (COVID-19) pandemic.
COVID-19 Stimulus Package Offers Relief to Affected Individual Taxpayers
During these uncertain times, it pays to know what relief is available under the CARES Act for you and your family.
What You Need to Know About the Families First Coronavirus Response Act
The Families First Coronavirus Response Act provides paid leave benefits to certain employees and corresponding tax...