202012.22
0
0

PPP Highlights of the New Covid Relief Legislation

After months of negotiations, Congress finally passed the Consolidated Appropriations Act late in the evening last night, and the new legislation includes a little something for everyone. Here are some of the highlights relating to the Payroll Protection Program (PPP): The bill provides that gross income does not include any amount that would otherwise arise from…

202012.22
0
0

Employers: Changes Coming to Mandatory FFCRA Leave Requirements

The Families First Coronavirus Response Act (FFCRA) that was passed in March required specified employers to provide emergency paid sick leave, as well as emergency paid leave under the Family and Medical Leave Act (FMLA), to employees. FFCRA leave ends this month, but tax credits continue for leave voluntarily extended to employees.Highlights include: Mandated FFCRA Leave ends…

202012.08
0
0

Understanding the Current PPP Landscape

The Paycheck Protection Program (PPP) provided a lifeline for thousands of small businesses across the nation, helping struggling owners pay employees to remain in business during the pandemic. Once borrowers provided lenders and the Small Business Association (SBA) with verification that the proceeds were used appropriately, the loans would be forgiven. Small businesses hope for a second…