On Tuesday, April 14 the SBA released guidance for Schedule C and Schedule F filers on how they could claim PPP funds based on their net self-employed earnings in 2019. We have prepared an article reviewing these issues as of April 16. See our summary here. See this 4/23/20 post for an update to the […]
Small business owners can apply to the U.S. Small Business Administration (SBA) for a Economic Injury Disaster Loan (EIDL) advance of up to $10,000.
BRSW Summary: Economic Injury Disaster Loan (EIDL) Emergency Advance Read More »
The IRS has released on their website a tool where you can check the status of your stimulus payment and enter your direct deposit information if IRS doesn’t already have it. Read the News Release regarding this new tool here. You can also see the IRS Website with the new tool here.
IRS Releases New Tool to help non-filers register for Economic Impact Payments Read More »
The IRS posted a news release on April 9th with some additional information regarding filing deadlines.
The BWC is planning to send up to $1.6 millon to Ohio employers.
BWC Planning to Send $1.6 Billion to Ohio Employers Read More »
Recently we received an email with some helpful links as we go through the coronavirus pandemic right now. We wanted to share some of the links with you. Hopefully you find them helpful. COVID-19 State Sites: Ohio Indiana Michigan Shelter in Place Order Information by State: Ohio Indiana Michigan Department of Labor Guidance on
Additional FAQs were posted by the Treasury Department concerning the Paycheck Protection Program late Monday evening, April 6, 2020. You can read the article by the Journal of Accountancy here. As a result of the revised guidance we have changed our PPP worksheet to show the 100,000 limit as only applying to W2 wages- box
After the initial announcement of the economic impact payments, the IRS stated that Social Security recipients would need to file a simple return to receive their recovery rebate. However, the Treasury Department announced in a press release on April 1, 2020 that Social Security recipients would receive their economic impact payment automatically without a requirement
Social Security Recipients Do Not Need to File to Receive Economic Impact Payments Read More »
We have created a Paycheck Protection Program (PPP) summary sheet which gives key provisions of this new program. Read our summary sheet here. We have also created a PPP loan calculation sheet to help you calculate the amount of loan you would be eligible for depending on your situation. To see our PPP calculation sheet,
Paycheck Protection Program – Additional Information Read More »
The IRS released some new questions and answers information regarding paid sick, medical, and family leave. Please see the link below for this information. One important update we want to point out is covered in Question 6 in the link. Employees’ checks should have FICA and Medicare withholding. Employers should match the Medicare that they
