COVID-19 Resources

SBA Streamlines PPP Forgiveness for Loans of Less Than $50,000! A new interim final rule (IFR) provides new guidance concerning forgiveness and loan review processes for PPP loans of $50,000 or less. On Thursday, the SBA released a streamlined application, Form 3508S, designed specifically for those who borrowed less than $50,000. The forgiveness is not…

New funding available: Provider Relief Fund Phase 3 General Distribution   Additional Funding Released Starting Oct. 5, you can apply to receive funds based on assessed revenue losses and expenses due to COVID-19. The opportunity to receive up to 2% of annual revenue from patient care remains active. As released from HHS: Healthcare providers, including…

HHS Provider Relief Fund Reporting Guidance On September 19, 2020 the US Department of Health and Human Services (HHS) issued Post Payment Notice Reporting Requirements.  All recipients of Provider Relief Fund (PRF) payments are required to comply with the reporting requirements described in the Terms and Conditions and specified in future directions issued by the Secretary.  Below…

The U.S. Department of the Treasury recently announced rules required for business owners to make use of the Paycheck Protection Program’s (PPP) loan forgiveness feature. The updated guidance provides both challenges and opportunities for local business owners. In addition, the SBA opened its PPP Loan Forgiveness portal recently. However, there are still some important questions that…

Applications are now due by Sunday, September 13, 2020. Follow the link HERE to apply now.  The Phase 2 distribution is intended for Medicaid, CHIP, and dental providers, who didn’t receive funding in the first round of distributions. The HHS allocated $15 billion from the CARES Act Provider Relief Fund for these providers, and applicants can receive up…

The IRS issued guidance on the payroll tax deferral that was ordered by the President in a presidential memorandum on Aug. 8 (Notice 2020-65). The notice allows employers to defer withholding on affected employees’ compensation during the last four months of 2020 and then withhold those deferred amounts during the first four months of 2021.…

El Paso County Allocates Additional CARES Act Funds to Small Business and Nonprofit Grants El Paso County continues its commitment to local small businesses and nonprofits with a new multi-million-dollar Regional Business Relief Fund program, launching this week. This Fund will act as a competitive grant application process to assist our small businesses and nonprofits…

HHS Provider Relief Fund – General and Targeted Fund Update HHS issued a limited update Monday July 20th.  The update suggests that providers who received more than $10,000 in PRFs (i.e., any payment under the $50 billion General Distribution, Medicaid/CHIP distribution, or various targeted distributions) will be subject to “future reporting requirements” and that detailed instructions regarding…

The Governor signed the Healthy Families and Workplaces Act on July 14, 2020. 2020: For the remainder of this year, the Act will require all employers to comply with the emergency paid sick leave requirements of the Families First Coronavirus Response Act (FFCRA). The paid sick leave provision of the FFCRA mandates that an employer…

We want to thank everyone who was able to attend our Town Hall webinar this morning with Chris Blees, CPA, CM&AA and Austin Bucket, ACA, CM&AA. We had great input from the audience and some really insightful discussion. We hope you all found it valuable. For those who were not able to attend live, we have the recording of…

The U.S. Small Business Administration (SBA), in consultation with Treasury, released Wednesday a revised loan forgiveness application for the Paycheck Protection Program (PPP). The SBA also unveiled a new EZ application for forgiveness of PPP loans. Join us for a Town Hall Webinar today at 10:00 by registering HERE for more information and input from the…

On June 5th, President Trump signed the Paycheck Protection Program Flexibility Act of 2020, which made significant changes to the PPP program. The Bill he signed was the exact law passed as H.R. 7010 by the House of Representatives. Since then, the Treasury Department issued regulations on June 11th, which included some important pronouncements. All…

HHS Provider Relief Fund Expanded to Medicaid & CHIP Providers Today, the U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), is announcing additional distributions from the Provider Relief Fund to eligible Medicaid and Children’s Health Insurance Program (CHIP) providers that participate in state Medicaid and CHIP programs.…

THE PREMIER PPP FORGIVENESS WEBINAR WITH THE EXPERTS The PPP Flexibility Act was signed into law last Friday. In a joint news release, the Small Business Administration and the Treasury Department said they will “promptly” issue rules and guidance; a modified application form; and a modified loan forgiveness application. These new rules have allowed greater flexibility…

Breaking News: Significant Changes to PPP Loan Forgiveness Rules The Senate on Wednesday evening passed by voice vote a House-passed Paycheck Protection Program reform bill, clearing it for President Donald Trump’s signature. The legislation — titled the Paycheck Protection Program Flexibility Act — was introduced by Republican Rep. Chip Roy of Texas and Democratic Rep.…

Important Highlights from the PPP Forgiveness Application The SBA released the first draft of the Forgiveness Application and related Instructions on Friday evening (5/15/2020).  The application and instructions can be found HERE. Most of the Forgiveness Application and Instructions follow the same calculations and interpretations that we have been providing our clients to maximize their…