IRS Releases Employee Retention Credit Guidance for 1Q and 2Q 2021
April 5, 2021 - New guidance from the IRS covers qualified wages paid after December 31, 2020 and before July 1, 2021. This expands on previous guidance related to claiming the credit in 2020.
Paycheck Protection Program Application Deadline Extended to May 31, 2021
March 31, 2021 - The PPP Extension Act of 2021 has extended the Paycheck Protection Program deadline by two months. The program had been set to expire on March 31.
Education Department Provides New Guidance on the Use of HEERF II Funds
March 19, 2021 - The guidance addresses changes in the Education Department’s prior position. Grantees will now have the flexibility to charge costs back to March 13, 2020, the date the pandemic was declared a national emergency.
SBA Provides New Paycheck Protection Loan FAQs
March 4, 2021 - The Small Business Administration has released several new Paycheck Protection Program (PPP) Loan FAQs covering a variety of First Draw and Second Draw PPP loan details.
IRS Releases Guidance on the Employee Retention Credit for 2020 Wages
March 2, 2021 - The IRS has provided additional guidance on claiming the employee retention credit for qualified wages paid from March 13, 2020, through December 31, 2020. Here are the key points for employers to know.
Paid Sick and Family Leave Credits Change; Extended Filing Date for Texas Nonprofits
February 24, 2021 - Wages paid to student employees and ministers are now eligible for paid sick and family leave credits, and the IRS has extended the filing deadline for Texas nonprofits.
Planning for Higher Education Emergency Relief Fund II (HEERF II)
February 22, 2021 - Similar to the first round of the Higher Education Emergency Relief Fund (HEERF I) provided under the CARES Act, HEERF II provides portions for student financial aid grants and institutional grants. However, there are key differences between the two rounds of funding. Here’s what institutions should know.
IRS Issues Updated FAQs on Paid Sick and Family Leave Credits
February 1, 2021 - The updated FAQs provide information on the paid sick and family leave credits extended through March 31, 2021. Here are the key points for your organization to be aware of.
Deadline for First HEERF Annual Performance Report Extended to February 8
February 2, 2021 - The deadline for the first Higher Education Emergency Relief Fund (HEERF) annual performance report has been extended from February 1 to February 8, 2021.
Webcast for Nonprofits: The Employee Retention Credit and Nonprofit Organizations
March 4, 2021 - This free webcast will provide an overview of the Employee Retention Credit (ERC), including the updates that were made to the program as part of the Consolidated Appropriations Act passed in December 2020.