Reading Time: 2 minutes In recent weeks, we have learned of an uptick in fraud cases for businesses who have applied for Paycheck Protection Program (PPP) funds for coronavirus disruption relief. Businesses on the receiving end of this type of fraud have discovered it only after receiving an official document from the SBA via …
Read morePPP Applicants are Stuck Fighting Fraud due to Security Breaches
Reading Time: 3 minutes In a rather atypical fashion, the USDA published a Final Rule for Payment Limitation and Payment Eligibility on August 24, 2020. The rule states that it was published to implement mandatory changes required by the Agriculture Improvement Act of 2018 (2018 Farm Bill). Why atypical? While the Farm Service Agency …
Reading Time: 2 minutes By Jeanne Bernick Next month I’ll join my counterparts from around the country in the K·Coe PRO Summit, a virtual conference designed to help businesses manage operations and navigate impacts during the COVID-19 pandemic and economic crisis. Our business advisors are on the front lines of hearing concerns, navigating issues …
Read moreCombat COVID: How to Move Business Forward During Disruption
Reading Time: < 1 minute As the original June 30 deadline passed for small businesses to apply for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), the Senate and House worked quickly to unanimously pass an extension proposal. This past Saturday, President Trump signed the extension allowing businesses to apply for assistance through August …
Read moreSBA Paycheck Protection Program Application Deadline Extended
Reading Time: 2 minutes As Paycheck Protection Program (PPP) applications are slated to start on April 3, K·Coe Isom advisors have been getting many questions and requests for guidance. We’d like to clear the air, and provide some important considerations – for the benefit of businesses. Important Loan Forgiveness Update Clarification was released this …
Read morePaycheck Protection Program (PPP): Considerations When Applying
Reading Time: 6 minutes Since its passage on March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act continues to be aggressively dissected, digested, and questioned by lawyers, accountants, HR and payroll administrators alike – with the intent to help businesses secure funding to endure the economic downturn caused by the COVID-19 pandemic. …
Read moreCARES Act FAQs: Helpful Loan Guidance for Businesses
Reading Time: 2 minutes Tax experts are dusting off a little-used tax law (enacted in 2002 following September 11th attacks) that is coming in handy for businesses dealing with COVID-19 today. Section 139 allows employers to make “qualified disaster relief payments” to employees to assist in managing their expenses during the COVID-19 pandemic. The …
Read moreCOVID-19 Disaster Plan Relief: Tax Opportunities for Employers and Employees
Reading Time: < 1 minute The IRS has agreed to last-minute relief for farmers by extending their filing due date to April 15, 2019 – and withdrawing the underpayment penalty for those not making the Jan 15 tax estimate. This waiver of penalties for underpayment of taxes by farmers stems from tax provision uncertainties. “This …
Read moreIRS Waives Estimated Tax Payment for Farmers Filing and Paying Tax by April 15