SBA Provides Rules for Second Draw PPP Loans
Wednesday night, SBA & Treasury released new guidelines for PPP Loans. The guidance is in two interim final rules. The first is the Business Loan Program Temporary Changes; Paycheck Protection Program … Continued
Pittsburgh Enacts COVID-19 Paid Sick Leave Ordinance
On December 9th Pittsburgh Mayor Bill Peduto signed a Temporary COVID-19 Emergency Paid Sick Leave Ordinance. This gives certain workers in the city an additional 80 hours of paid sick time … Continued
Simpler PPP Forgiveness for Loans up to $50K
This month The U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action … Continued
Important Updates to Pennsylvania Overtime Pay Rules
The PA Department of Labor & Industry (L&I) amended the Minimum Wage Act to clarify requirements and update salary thresholds to reflect the current wages paid to Pennsylvanians working in executive, administrative, … Continued
The IRS Has Extended The ACA Deadlines
On October 2, 2020 the IRS announced that it is extending the ACA deadline again for this year. Employers were originally required to furnish year 2020 form 1095-C and/or 1095-B … Continued
Payroll Deferral Tax Employer FAQ
Payroll Tax Deferral Next Steps Earlier this week we sent an update regarding the Employee Social Security Tax Deferral. You can find a link to this notice here. Below we are … Continued
IRS AND TREASURY ISSUE GUIDANCE ON THE PAYROLL TAX DEFERRAL
Late on Friday August 28, 2020 the IRS and the Department of Treasury issued long-awaited guidance on the payroll tax deferral that was issued by President Trump in a memorandum … Continued
Executive Order Signed August 8th
On Saturday, President Trump signed an Executive order regarding a deferral for employee and employer Social Security tax. While these are not yet actionable as we are awaiting further guidance … Continued
The SBA issues FAQs Regarding Loan Forgiveness
On Tuesday the Small Business Administration released a sheet of FAQs regarding PPP Loan Forgiveness. The FAQs are very detailed and provide much needed clarification on a host of topics … Continued
Senate Releases COVID-19 Relief Proposal
As always, we’re keeping you abreast of the all the updates coming out of Washington regarding COVID-19 relief and PPP. After much anticipation, the Senate has released its latest effort … Continued
SBA and Department of Treasury Release New Loan Forgiveness Applications
The PPP Flexibility Act (PPPFA) was signed into law by President Trump on January 5, 2020. Today the SBA and Department of Treasury have announced the publication of their 19th Interim … Continued
New PPP Loan Report & Legislative Update
As promised, below you will find instructions for Phase 2 of the PPP Loan Forgiveness Report. Additionally, Trump just signed into law the PPP Flexibility Act of 2020. The full … Continued
House Votes to Loosen Restrictions on PPP Loan Forgiveness
The House voted 417-1 to allow more flexibility for the Paycheck Protection Program loan forgiveness. The Senate is expected to vote on the bill next week. Lawmakers are pushing for … Continued
SBA Clarifies Rules for PPP Loan Forgiveness
The SBA has finally released the detailed PPP Loan Forgiveness Application. You can find the SBA Application here. Below are some clarifications and highlights. Some of the key items clarified include: … Continued