New PPP Extension Bill Signed
On July 4th, President Donald Trump signed a bill which re-opened the application window for the Paycheck Protection Program (PPP) until August 8. The five-week extension had been passed by […]
Category: Federal
Senate approves 5-week PPP extension
The U.S. Senate unanimously passed a five-week extension of the Paycheck Protection Program (PPP) on June 30, 2020, only a few hours before the application window on the program was […]
Accounting Recognition for PPP Loans
The AICPA recently updated a technical accounting guide that provides accounting options to borrowers of the Paycheck Protection Program (PPP) Loan. The guide is in the form of a Technical […]
Haven’t filed your 2019 business tax return yet? There may be ways to chip away at your bill
The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment and filing deadlines that otherwise would have fallen on […]
SBA Updates on PPP Loan Forgiveness
The U.S. Small Business Administration (SBA) released a new Interim Final Rule (IFR) which revises two previously-released IFRs. These IFRs deal with Paycheck Protection Program loan forgiveness and SBA loan […]
Medicaid Targeted Distribution Updates
At the time of initial publication, the enhanced provider relief portal was only for the Medicaid, CHIP and Dental providers but it has since been expanded to include the “second chance” providers […]
Payroll Based Journal Waiver Ended and Other Five-Star Updates
In this CMS memo dated June 25, 2020, CMS addressed changes to staffing information and quality measures posted on the Nursing Home Compare Website and Five Star Quality Rating System […]
Congress has waived the Required Minimum Distribution requirements for 2020
As part of the CARES Act, Congress waived the Required Minimum Distribution (RDM) requirements for 2020. Under existing law, taxpayers have 60 days from the date of distribution to roll […]
New PPP Loan Forgiveness Applications
The U.S. Small Business Administration (SBA) has released a revised Paycheck Protection Program (PPP) loan forgiveness application. In addition, there’s now a new EZ application for forgiveness of PPP loans […]
Long Awaited Relief for Medicaid Only Providers
Medicaid only providers, including Intermediate Care Facilities for the Intellectually Disabled (ICF-IID), Assisted Living, and Waiver, finally received some long awaited good news. On June 9, 2020, the Department of Health […]
Main Street Lending Program: What You Need to Know
The Main Street Lending Program (Program) was established by the Federal Reserve to support lending to small and medium-sized businesses impacted by the COVID-19 pandemic. The Program […]
Paycheck Protection Program Flexibility Act Signed into Law
President Trump has signed the Paycheck Protection Program (PPP) legislation known as the PPP Flexibility Act (PPPFA). The bipartisan bill makes several changes to the PPP loan program: Extension of […]
