Updated PPP Rules and New Forms
In February, several changes were made to the Paycheck Protection Program (PPP). On March 3, 2021, the Small Business Administration (SBA) released an interim final rule (IFR) providing guidance on […]
Category: Current Events
Medicare Accelerated and Advanced Payment Recoupment
Did your facility apply for and receive Medicare Advanced Payments in March or April, 2020? If you answered “YES”, your Medicare Remittance advices will begin to show the recoupments one […]
PPP Update: Rules Change To Reach Small Businesses
The Small Business Administration (SBA) has established an exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees. This will give lenders and community partners more time […]
Accounting Alternative for Goodwill Impairment Triggering Events
Under current generally accepted accounting principles (GAAP), goodwill must be tested for impairment when a triggering event occurs. Companies and organizations are required to monitor and evaluate goodwill impairment triggering […]
New PPP Rules, Applications, and Loan Forgiveness Revealed
New PPP Loan Forgiveness Application The US Small Business Administration (SBA) and Treasury updated their loan forgiveness forms on January 19, 2021. Among these is the PPP Loan Forgiveness Application […]
PPP Loans Have Reopened: Let’s Review the Tax Consequences
The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a PPP loan to help during the COVID-19 […]
Provider Relief Fund Reporting Delayed and Reporting Requirements Updated
Today the U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA) issued a news release announcing a delay to the February 15, 2021 […]
OMB Compliance Supplement Addendum & Single Audit Applicability of Provider Relief Funds (PRF) & Coronavirus Relief Funds (CRF)
The Office of Management and Budget (OMB) released an addendum to the 2020 Compliance Supplement on December 22, 2020. This addendum provides important updates to COVID-19 related federal funding and […]
Can Your Business Benefit From the Employee Retention Tax Credit?
COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligible for a refundable Employee Retention Tax Credit, which was […]
New Year, New Fraud to Watch Out For
Whew, you made it through 2020! But don’t rest easy yet. Unfortunately, fraud perpetrators enjoyed a profitable year, and there are signs they may continue to feed off Americans as […]
New CAA Provides Favorable Tax Breaks for Businesses
The COVID-19 relief bill, known as the Consolidated Appropriations Act of 2021 (CAA), signed into law on December 27, 2020, contains numerous favorable tax breaks for businesses. Here are some […]
PPP2 Details and Application Process
The new $900 billion stimulus bill, the Consolidated Appropriations Act, provides a variety of financial stimulus measures, including $284 billion for a second round of Paycheck Protection Program […]
