In times of great uncertainty, there is power in knowledge and preparation. In response to the coronavirus (COVID-19) outbreak throughout the United States and beyond, we’ve assembled industry experts to give you guidance and solutions to combat the ramifications on your business.
Continue to visit the Friedman COVID-19 Resource Center for breaking coverage and tactics to inform your financial decision making.
August 11, 2021 [NEW] IRS Notice 2021-49: Additional ERC Guidance and Clarification
Earlier this year, the IRS issued two notices, 2021-20 and 2021-23, attempting to provide guidance on the Employee Retention Credit (“ERC”). The current notice clarifies some of the earlier issued guidance and attempts to answer questions not previously addressed.
August 4, 2021 [NEW] The SBA Changes Its Mind: You Don’t Have to Complete a PPP Loan Necessity Questionnaire
On July 29, the Small Business Association announced that it is discontinuing the use of Loan Necessity Questionnaires.
July 1, 2021 HHS Issues Update on Provider Relief Funds
On June 11, 2021, the Department of Health and Human Services (“HHS”) released an updated notice regarding the reporting requirements for recipients of Provider Relief Funds (“PRF”). This notice supersedes the guidance released early this year, providing updated deadlines for the use of funds and timelines for reporting to the PRF reporting portal.
June 16, 2021 Retail’s New Look in 2021
As shoppers resume traditional in-person dining and shopping, the question becomes: Which shopping behaviors developed during the pandemic will have a long-term shelf life?
An individual is subject to tax on all of their income by the state in which they are domiciled. Due to successful remote work over the course of the pandemic, workers are seeking to change their domicile to a more tax-friendly state.
The American Rescue Plan Act of 2021 made some tweaks to the Emergency Paid Sick Leave Act to include COVID-19 testing or immunization as qualified sick leave wages. Eligible employers are entitled to tax credits for employee wages paid for leave due to reasons related to COVID-19.