Ideas & Insights

Expanded FAQs further clarify that institutions do not report grant funds paid to students, and students do not include amounts in income.

The American Rescue Plan Act of 2021 extends and expands support for exempt organizations affected by the coronavirus pandemic.

Biden-Harris administration announces changes to PPP including a 14-day exclusive access period for businesses with fewer than 20 employees.

Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.

SBA releases two PPP reopening guidance packages. The first round of guidance provides information for new PPP borrowers.

SBA releases two PPP reopening guidance packages. The second guidance package provides information for eligible second draw PPP borrowers.

Year-end stimulus legislation extends Paycheck Protection Program and expands eligibility for exempt organizations.

Borrowers (and affiliates) that have PPP Loans of $2 million or greater should be prepared to provide additional information to SBA.

Some exempt organizations that timely filed Form 990 series returns or notices are receiving erroneous auto-revocation notices.

New legislation allows nonprofit employers to pay 50% of their unemployment reimbursing payment obligations to states.

The Federal Reserve Board has established two new loan facilities to expand credit options for nonprofit organizations.

Notice 2020-56 extends until Dec. 31, 2020, the due date for CHNAs or implementation strategies due on or after April 1, 2020.

TEGE will resume exam activities on July 16, 2020 and will allow agents and managers to exercise discretion in granting IDR extensions.

IRS explains taxability of Provider Relief Fund reimbursements made to health care providers pursuant to the CARES Act.

The IRS issued guidance clarifying the definition of gross receipts for tax-exempt employers utilizing the employee retention credit.

Exempt organizations may carryback siloed NOLs to tax years beginning before 2018 and apply them to net unrelated business income.

The CARES Act provides broad support and relief for tax-exempt organizations affected by the coronavirus pandemic.

Extensions for tax returns and payments due to the Coronavirus pandemic are largely inapplicable for most exempt organizations.

Discussion of how tax-exempt organizations can provide assistance to those impacted by the coronavirus pandemic.