IRS Issues Guidance on the Employee Retention Credit Termination
December 7, 2021 - The guidance applies to employers that received advance Employee Retention Credit payments or reduced employment tax deposits for wages paid after September 30, 2021.
New Infrastructure Act Will End the Employee Retention Credit Early
November 11, 2021 - The Infrastructure Investment and Jobs Act, which passed the House of Representatives on November 5, 2021, will retroactively end the Employee Retention Credit to apply only through September 30, 2021.
IRS Releases Guidance on Reporting 2021 Qualified Sick and Family Leave Wages
September 9, 2021 - The IRS has released guidance on reporting qualified sick leave and family leave wages provided in 2021. The IRS also released its annual update of per diem rates applicable to travel, effective October 1, 2021.
New Resources to Help Your Nonprofit with the Employee Retention Credit
August 25, 2021 - While the Employee Retention Credit (ERC) helped bring relief to nonprofit organizations affected by COVID-19, it also raised a lot of questions. Here are two new resources to help.
Where are the “Gotchas”? 10 HEERF Considerations to Be on the Lookout For
August 17, 2021 - Each of the three Higher Education Emergency Relief Funds has brought new eligibility, disbursement, and reporting requirements. Here are 10 considerations to watch for.
Accounting and Reporting for the Employee Retention Credit
August 12, 2021 - While the Employee Retention Credit helped to bring relief to nonprofit organizations affected by COVID-19, it also brought questions about accounting and reporting for this credit. Here are answers to help.
IRS Releases Employee Retention Credit Guidance for 3Q and 4Q 2021
August 5, 2021 - The IRS released guidance on claiming the ERC for qualified wages paid after June 30, 2021, and before January 1, 2022, along with further guidance for various ERC issues in 2020 and 2021.
SBA Simplifies Forgiveness Process for PPP Loans of $150,000 or Less
July 30, 2021 - A new SBA PPP Direct Forgiveness Portal will allow borrowers with Paycheck Protection Program (PPP) loans of $150,000 or less through participating lenders to apply for forgiveness directly with the SBA.
New IRS FAQs for Paid Leave Provisions Under the American Rescue Plan Act
June 14, 2021 - The IRS has released FAQs addressing paid sick and family leave taken between April 1 and September 30, 2021.
Webcast for Higher Education: HEERF Update – Where are the “Gotchas”?
July 15, 2021 - The American Rescue Plan Act of 2021 provided institutions of higher education with their third round of pandemic emergency relief funding through the Higher Education Emergency Relief Fund (HEERF). This recorded webcast reviews the lessons learned from the administration and audits of HEERF I and II and explore the potential impact on HEERF III.