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 as Amended. This updates the rules for PPP loans for first-time borrowers and provides the changes that were made in the recent legislation.   The Second Interim … Continued

New COVID Relief Bill

A new $900 billion coronavirus relief bill has become law and answers the question of whether federal Emergency Paid Sick Leave (EPSL) and Emergency Family and Medical Leave (EFMLA) will be extended. The answer is yes, but it’s an option, not a requirement. Here’s what employers need to know: Offering EPSL and EFMLA after December … Continued

FFCRA Leave Extended

On Monday, December 21st, the Senate and House of Representatives passed the Consolidated Appropriations Act, 2021, the second COVID-19 relief bill since the CARES Act in March. Full text of the bill is available here.  The $900 billion bill provides $600 stimulus payments to individuals, adds $300 to extended weekly unemployment benefits, and provides more … 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 taking effect immediately. Pittsburgh employers with at least 50 employees must make the maximum amount of paid leave available to eligible employees in addition to … 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 streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars. Please see … 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, and professional occupations.  The federal Fair Standards Labor Act took effect on January l, 2020 raising the federal overtime salary threshold to $35,568.  Pennsylvania’s Overtime Rules … 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 information returns to employees by January 31, 2021.  Following suit from prior years the IRS had automatically extended the deadline to March 2, 2021.   This … 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 including an updated FAQ for employers regarding the Payroll Tax Deferral.  Additionally, we know that some of you may be fielding questions from your employees.   … 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 on August 8, 2020.   The IRS notice (Notice 2020-65) states the following: Allows employers to postpone the withholding, deposit, and payment of the employee portion of Social … Continued