K·Coe Isom Resource & Update Center
CARES Act Resources
K·Coe Isom has been closely tracking actions taken by the government to help clients alleviate the economic damage caused by the COVID-19 pandemic. We have been assisting them with their efforts to identify and utilize programs and funds that best meet their specific needs.
While significant attention was given to opportunities like the Paycheck Protection Program (PPP), the Coronavirus Aid, Relief and Economic Security (CARES) Act includes numerous other potentially useful resources for health care providers, businesses, schools, and non-profits as they navigate financial and operational challenges.
In an effort to help its clients, K·Coe has summarized the funding programs and opportunities that are most likely to benefit them. This is not a comprehensive list of all CARES Act programs and supplemental funds available. Below, we have provided a summary of resources available for:
- Health Care
- Manufacturing
- Community
- Education
- Food & Agriculture
- Rural Community
- Business
- Child Care Providers
It’s important to note that some of these agencies and their associated programs have issued thorough and complete guidance, while others have yet to do so. Information and guidance is being delivered and announced by various agencies on an ongoing basis. This compilation reflects available information as of May 28, 2020.
Office Locations Update
Town Hall Recordings
UPDATES
CFAP2 Payments Announced: Summary of Applicability
Reading Time: 3 minutes It has been the talk of the Ag sector throughout the last few weeks: expectations for another round of Coronavirus Food Assistance Program (CFAP) for producers affected by the COVID-19 pandemic. President Trump gave official confirmation in a campaign rally speech in Wisconsin on September 17. While the original CFAP1 …
Personal Rentals for Business: What’s Considered Taxable Income vs. a Deduction, or Neither?
Reading Time: 2 minutes The Internal Revenue Code provides guidelines for what activities constitute income or deductions for individual residences. Below is a high-level overview for consideration. Residence rentals: If an individual rents out a dwelling they use as a residence for fewer than 15 days per year, neither income nor deductions relating to …
PPP Forgiveness: Should Borrowers Apply Right Now?
Reading Time: 2 minutes Now that the SBA’s forgiveness eligibility for Paycheck Protection Program (PPP) loans is now open, are you (and your borrowers) applying for forgiveness? K·Coe advisors have been closely assessing the rules and monitoring for potential changes, and we fully expect more SBA guidance to be released on PPP forgiveness for …
RESOURCES
HR Compliance and Support Services
Small businesses are getting bogged down by COVID-19’s impact on human resources – from employee communication to employer compliance. Many are operating at full capacity, or putting HR duties onto professionals who are trained in other areas. K·Coe’s consulting arm, TalentPro, can help your business with HR compliance and support. If you’d like to learn more about how our HR professionals are helping businesses during COVID-19, fill out this form and we will provide answers to FAQs on HR guidance during this time, as well as details on TalentPro support services.
Below are links to resources to help businesses navigate through the impacts of COVID-19
CARES Act, SBA, and FFCRA Guidelines
- Summary of CARES Act available resources
- CARES Act: When and How to Use Employee Retention Tax Credits
- CARES Act: Guidelines on COVID-19 Loan Programs and Recommendations
- CARES Act Unemployment Benefits Program Overview
- SBA Visit Disaster Loan Assistance from the U.S. Small Business Administration to learn about low-interest disaster loans.
- IRS FAQs: Employee Retention Credit under CARES Act
- IRS FAQs: COVID-19 Tax Credits for Required Paid Leave for Small and Midsize Businesses
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U.S. Treasury Fact Sheet: CARES Act PPP Information for Borrowers
- HR Toolkit for Employers: Sample Letters and Forms
- COVID-19 Checklist: Essential Guidance for Your Business
- Employer Resource: Does FFA Apply? Easy Flow Chart of Guidelines
- Employer Resource: H-2A COVID-19 FAQs
- Employer Resource: FAQs on Common Paid Leave Scenarios
- Employer Resource: Staffing Decisions for Keeping Your Business Open During COVID-19
- Employer Resource: FAQs Furloughs and Layoffs
- Employer Resource: FAQs about Pay
- Employer Resource: FAQs about Employee Safety
- Employer Resource: FAQs about HR 6201
- Employer Resource: FAQs about HR Practices with Employees
- Employer Resource: IRS Takeaways for Paid Leave and Payroll Tax Credits
- Employer Resource: Tips for Setting Up a Secure Remote Workplace
- Complete list of Essential Workers: Food & Ag, Transportation & Logistics, Energy, Water & Wastewater, and Critical Manufacturing
- Guidance on the Essential Critical Infrastructure Workforce
Resources for Banks:
- Good$ense for Bank Organizations: FDIC Financial Institution FAQs
- Good$ense for Bank Customers: FDIC Bank Customer FAQs
- Good$ense for Banks: Crisis Communication Tips for your Customers
- Good$ense for Banks: Regulators Recognize Bank Dividend Needs in Light of COVID – 19
- Good$ense for Banks: Considerations for Closing Branches or Limiting Access
Crisis Planning and Management Resources:
- 5 Crisis Planning Tips to Combat COVID-19 (from Farm Journal's MILK Magazine)
- CDC's Tips for Managing Anxiety & Stress during this overwhelming situation
- NMPF COVID-19 Prevention and Management Handbook and resources page for dairy producers and processors
Government and Association Links:
- USDA Announces Coronavirus Food Assistance Program
- USDA COVID-19 Federal Resource Guide
- USDA Implements Measures to Help Rural Residents, Businesses, and Communities Affected by COVID-19
- American Trucking Association updates including state Department of Transportation updates
- Coronavirus Overview – Understand the COVID-19 and its transmissibility, host range, incubation period, environmental stability, and other required information for infectious disease outbreak response.
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USDA resources for food safety, food access, pet safety and trade and foreign agriculture affairs.
- IRS page for Coronavirus to help taxpayers, businesses and others affected by the coronavirus.
- IRS Payment and Deadline FAQs
- U.S. Chamber of Commerce on Coronavirus Response Toolkit for Businesses
- Department of Labor - official updates and resources to prepare workers and employees
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OSHA's Guidance on Preparing Workplaces for COVID-19
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CDC's Interim Guidance for Businesses and Employers
- AICPA's State Tax Filing Guidance for Coronavirus Pandemic
- USDA and DOL Announce Information Sharing to Assist H-2A Employers (Press Release)
- CISA Critical Infrastructure Sectors
- Equal Employment Opportunity Commission (EEOC) has created a landing page entitled What You Should Know About the ADA, the Rehabilitation Act, and COVID-19, which provides links to resources and guidance.