Acadia HR

The Small Business Administration (SBA) has announced a simplified Payroll Protection Program (PPP) forgiveness application for all loans of $50,000 or less. The new form requires fewer calculations and less documentation for eligible borrowers. Please visit https://acadiahr.com/business-resources/ for the PPP Loan Forgiveness Application 3508S and instructions.

Business Resources - Acadia HR Resource Links Guidance for Preparing Workplaces for Covid-19 Standard Revised PPP Loan forgiveness application & instructions (6/17/2020) SBA Loan Forgiveness PPP Loan Forgiveness Application Paycheck Protection Program (PPP) Application (updated 4/2/2020) PPP Updated Reporting Requirements (4/2/20...

The IRS clarified that employers have the controlling decision of whether or not to implement the employee social security tax break. Employers may, but are not required to utilize the relief. Additionally, the IRS confirmed that participation in the payroll tax deferral is optional for non-federal employees. Clarification on the timing and method for paying the deferred amount has been further clarified as well. Please visit our website at https://acadiahr.com/business-resources/ for other important financial resources to help you navigate the extensive COVID-19 legislation.

https://news.bloombergtax.com/payroll/irs-confirms-employee-social-security-tax-deferral-is-optional

IRS Confirms Employee Social Security Tax Deferral Is Optional Deferring the employee portion of Social Security tax is optional, the IRS confirmed Sept. 3, resolving ambiguity in this regard that had persisted since the announcement of this relief measure.

Across the country, states are reopening and travel restrictions are ever changing. It is now more imperative than ever that employers manage workplace exposure from employees who are returning from higher COVID-19 risk areas. Employers must consider safety and workplace laws in these scenarios as they are becoming very common. 28 states currently have issued travel recommendations or require individuals to quarantine after traveling. For more resources concerning workplace safety and other useful coronavirus information, please visit our website at https://acadiahr.com/covid-19/

https://www.cdc.gov/coronavirus/2019-ncov/travelers/index.html

Coronavirus Disease 2019 (COVID-19) CDC provides credible COVID-19 health information to the U.S.

The U.S. Department of Labor’s (USDA) tools for businesses with under 500 employees include a Fact Sheet for Employees and a Fact Sheet for Employers, available in both English and Spanish, and an expansive list of Questions and Answers addressing the questions that the Wage and Hour Division (WHD) of the USDA has most frequently received from stakeholders to date. Available guidance also includes two new posters, Questions and Answers about posting requirements, and a Field Assistance Bulletin describing WHD’s 30-day non-enforcement policy. For more resources to help your business navigate new coronavirus legislation, check out our website’s resource center at https://acadiahr.com/covid-19/

https://www.dol.gov/agencies/whd/pandemic/ffcra-poster-questions

Families First Coronavirus Response Act Notice – Frequently Asked Questions | U.S. Department of Labor The .gov means it’s official. Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.

There will likely be an additional round of PPP loans available for businesses in the near future. Secretary Munchin suggested that Congress would reauthorize the program to allow for a second PPP check to go out to the businesses hardest hit by the pandemic. The Secretary discussed a revenue test to ensure that businesses that receive future loans must actually need them. Congress has three weeks before recess to come to an agreement on a new PPP plan to help small businesses, coupled with a new economic stimulus package that would assist individuals during these challenging times. To keep up with the latest small business news, trends, and resources, please visit our website at http://acadiahr.com/

https://finance.yahoo.com/news/new-bill-would-allow-small-businesses-to-get-second-ppp-loan-174344949.html

New bill would allow small businesses to get second PPP loan A new bill introduced on June 18 would allow some small businesses to get a second Paycheck Protection Program loan.

With unanimous consent, the Senate passed legislation that would keep the Paycheck Protection Program (PPP) alive and give the Small Business Association authority to continue approving PPP loans through August 8th, 2020. The bill has been sent to the House where it is expected to be passed and then sent to the President’s desk to be signed into law. The new deadline is August 8th, chosen because it marks the end of the Senate’s next work period and legislators hope they can pass the next economic relief package within that time. For more PPP resources and information or links to the applications themselves, please visit our website at https://acadiahr.com/business-resources/

https://thehill.com/homenews/505360-senate-extends-application-deadline-for-ppp-small-business-loans

Senate passes extension of application deadline for PPP small-business loans The Senate on Tuesday cleared legislation to extend the deadline for businesses to apply for coronavirus aid under the Paycheck Protection Program (PPP), which will expire at the end of Tuesday.