Monthly Archives: April 2020

//April

CARES Act – Net Operating Losses

On March 27, 2020, Congress passed the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) to provide relief for the acute economic fallout from the coronavirus (COVID-19) pandemic. The CARES Act, among other things, aims to provide significant aid to businesses and employees. One of the key business [...]

By | 2020-04-09T14:30:27+00:00 April 9th, 2020|

UPDATED Families First Coronavirus Response Act

Families First Coronavirus Response Act  Emergency Paid Sick Leave Act and the Family and Medical Leave Expansion Act    Last Updated: April 7, 2020  Summary: Starting for any leave on or after April 1, 2020, Employers with fewer than 500 employees are required to provide paid, protected leave to employees who are unable to [...]

By | 2020-04-08T19:00:59+00:00 April 8th, 2020|

Paycheck Protection Program (CARES Act)

Paycheck Protection Program Part of the CARES ACT (Coronavirus Aid, Relief, and Economic Security Act) Enacted Friday, March 27, 2020 Last Updated: April 7, 2020 Summary: Private lenders are offering Small Business Administration (SBA) low interest loans requiring no collateral, no personal guarantees, 6 month to 1 year payment deferrals, and substantial loan forgiveness, [...]

By | 2020-04-09T14:00:04+00:00 April 8th, 2020|

Employee Retention Credit

The IRS has provided advice for employers on how to claim an employee retention credit on quarterly Form 941 under the coronavirus stimulus legislation. The refundable tax credit is equal to 50% of qualified wages paid to employees after March 12, 2020, and before January 1, 2021. If an employer [...]

By | 2020-04-08T16:54:45+00:00 April 7th, 2020|