United States
Biden-Harris administration announces changes to PPP including a 14-day exclusive access period for businesses with fewer than 20 employees.
Employers can add flexibility to their health flexible spending accounts and dependent care assistance programs per Notice 2021-15.
The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
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.
Following the President’s memo on August 8, Treasury releases very short Notice 2020-65 delaying the deadline for employee FICA tax.
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.
Deadlines postponed for certain employment taxes, employee benefit plans, IRAs, HSAs, MSAs and other time-sensitive actions.
Because of COVID-19 concerns, the IRS is extending pending deadlines for employers to adopt updated 403(b) retirement plan documents.
The CARES Act provides broad support and relief for tax-exempt organizations affected by the coronavirus pandemic.