Current Events Archives - Page 5 of 19 - HW&Co. CPAs and Advisors

60-Day Grace Period for PRF Reporting & $25.5 Billion New PRF Funding Available

By: Paula Reape CPA LNHA

Announcing 60-Day Grace Period – PRF Reporting Period 1 The September 30, 2021 Reporting Period 1 deadline has not changed; however, in response to challenges providers are facing given the […]

Provider Relief Fund Reporting Overview and Calculation Tool

By: Paula Reape CPA LNHA

The 9/30/2021 reporting deadline for Provider Relief Funds (PRF) received between 4/10/2020 and 6/30/2020 is rapidly approaching. It is important to understand the reporting requirements and to be prepared before […]

AICPA releases guidance on SVOG & RRF accounting questions

The AICPA released a Technical Question & Answer (TQA) on August 10th addressing how a recipient should account for a Shuttered Venue Operators Grant (SVOG) or a Restaurant Revitalization Fund […]

IRS provides additional guidance to employers claiming the ERC

The IRS issued further guidance on the employee retention credit (ERC) on August 4th. It includes guidance for employers who pay qualified wages after June 30, 2021, and before January […]

SBA streamlines forgiveness process for most PPP loans

The U.S. Small Business Administration (SBA) published new guidance on July 28, 2021, designed to simplify and speed up the forgiveness process for businesses and not-for-profits with Paycheck Protection Program […]

SBA launches new Paycheck Protection Program loan forgiveness portal

The Small Business Administration (SBA) has officially launched a streamlined Paycheck Protection Program (PPP) loan forgiveness portal. The portal will allow small-business owners with loans of $150,000 or less to […]

New PRF Single Audit Guidance

PRF Background Our last 2 updates Provider Relief Fund (PRF) Reporting Portal is Now Open and Revised PRF Reporting Requirements including Extended Time to Expend Some Funds provide some important […]

SBA officially drops PPP Loan Necessity Questionnaire requirement

By: Tony LaNasa

The U.S. Small Business Administration (SBA) has informed lenders that it is eliminating the loan necessity review for Paycheck Protection Program (PPP) loans of $2 million or greater. In a […]

Provider Relief Fund Reporting Portal is Now Open

By: Paula Reape CPA LNHA

The long-awaited Provider Relief Fund (PRF) Reporting Portal is now open for reporting on the use of PRF funds received. The HW&Co. article, Revised PRF Reporting Requirements including Extended Time to […]

Claim the Employee Retention Tax Credit

By: Tony LaNasa

The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a […]

SBA Plans to Make Loan Forgiveness Easier

By: Tony LaNasa

UPDATE: The SBA has officially dropped the PPP Loan Necessity Questionnaire from the forgiveness process. Read the updated article. There are recent reports that the Small Business Administration intends to […]

Revised PRF Reporting Requirements including Extended Time to Expend Some Funds

By: Paula Reape CPA LNHA

Breaking News: HHS has just provided more guidance on Provider Relief Fund (PRF) reporting and revised the Reporting Requirements. This new version supersedes all previous versions of the Post-Payment Notice […]

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