COVID-19 UpdatesUPDATE: Paycheck Protection Program Forgiveness PlanPublished on May 4th, 2020The Paycheck Protection Program (PPP) is a small business loan program, created under the CARES Act, to provide an incentive for small businesses to keep employees on the payroll during the COVID-19 crisis. The PPP has authorized up to $659 billion in forgivable loans to all businesses with 500 or fewer employees, including non-profits, veteran’s […] Bill to Provide More Funding for Paycheck Protection ProgramPublished on April 24th, 2020The U.S. Senate earlier this week, approved by voice vote, an over $480 billion coronavirus (COVID-19) relief package that includes $310 billion more funding for the Paycheck Protection Program (PPP). The Paycheck Protection Program and Health Care Enhancement Act was approved by the House on Thursday, April 23, and President Trump signed the bill today. Previously, […] Get Your Money: Ensure You Receive a Stimulus Payment — Status and non-filer tools launched by IRSPublished on April 21st, 2020The Internal Revenue Service (IRS) recently announced the launch of websites for non-tax filers to register to receive their economic impact payment and a new Get My Payment tool. Here is what you need to know. Background As a response to the coronavirus pandemic, the government is sending $1,200 to single taxpayers with income less […] Department of Health and Human Services announces grants to hospitals and health care providersPublished on April 14th, 2020The Department of Health and Human Services (HHS) announced Friday that it is beginning distribution of $30 billion in grants to hospitals and health care providers as part of the $100 billion fund authorized by the CARES Act. The following link contains information about the program. https://www.hhs.gov/provider-relief/index.html This program will provide direct payments to Medicare […] Federal Reserve Announces Main Street Lending ProgramPublished on April 10th, 2020The Federal Reserve announced on April 9, 2020, the establishment of the Main Street Lending Program. This $600 billion lending program is designed to provide relief to small and mid-size businesses. The program is offering four-year loans to businesses with up to 10,000 employees or up to $2.5 billion in annual revenues for 2019. Loans […] |
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