Navigating through the barrage of information about COVID-19 is overwhelming for all U.S. residents. The following are links to sites that we hope you find useful in this unprecedented time. In addition to HCVT Tax Alerts, the following are links to helpful sites about COVID-19, addressing disaster assistance, lending programs, and employer-related issues.
COVID-19 Paycheck Protection Program Loan Forgiveness Frequently Asked Questions August 11, 2020
COVID-19 Paycheck Protection Program Frequently Asked Questions August 11, 2020
COVID-19 Paycheck Protection Program Flexibility Act Signed into Law
The Small Business Administration (SBA) has released the application for loan forgiveness for Paycheck Protection Program (PPP) loans, SBA Form 3508. Additionally, the SBA, along with the Department of Treasury, has released additional Interim Final Rules that provide further guidance about the forgiveness calculation and requirements, borrower responsibilities and requirements, and lender responsibilities and requirements.
The calculation for loan forgiveness is complex. Borrowers must understand eligible payroll and non-payroll costs as defined in the CARES Act, and further explained in various Frequently Asked Questions and Interim Final Rules issued by the SBA. Borrowers must understand and accurately calculate and report factors that reduce amounts forgiven due to reductions in FTEs or wages, as more fully discussed in the Interim Final Rules listed below. Borrowers should work with their lender and other advisors in completing the Loan Forgiveness Application. If you have questions about the Paycheck Protection Program loan, and the forgiveness calculation, contact your HCVT professional.
IRS Warns of COVID-10 Scams
Daniel Hood, Accounting Today
Filing and Payment Deadline Questions and Answers
Coronavirus paid sick leave and family leave guidance issued
Navigating through the barrage of information about Coronavirus 2019, or COVID-19, is overwhelming for all California residents. The following are links to sites that we hope you find useful in this unprecedented time.
California's primary resource page providing information about California's emergency response
California Department of Public Health
Resources for Employers and Workers, Labor & Workforce Development Agency
IRS Filing and Payment Deadlines Questions and Answers
In addition to HCVT Tax Alerts, the following are links to helpful sites about Coronavirus, or COVID-19, addressing disaster assistance, lending programs, and employer-related issues.
California’s Roadmap to Modify the Stay-at-Home Order, Office of Governor Gavin Newsom
Frequently Asked Questions from the California Franchise Tax Board
U.S. Small Business Administration, SBA Disaster Assistance in Response to the Coronavirus
Small Business Majority-COVID 19 Daily Updates for Small Businesses
California Chamber of Commerce Advocacy-Coronavirus
Franchise Tax Board Extension to File
State of California Department of Industrial Relations-Coronavirus Disease FAQs
We understand there is so much information about COVID-19, in addition to HCVT Tax Alerts, listed below are links to sites that we hope are helpful to Utah businesses and residents.
State of Utah Coronavirus Resources
Utah Association of CPAs-Coronavirus Resource Center
Utah Governor's Office of Economic Development-Coronavirus Updates
IRS Filing and Payment Deadlines Questions and Answers
In addition to HCVT Tax Alerts, listed below are links to helpful websites about COVID-19 or Coronavirus for Texas residents and businesses:
Office of the Texas Governor, Greg Abbott
Texas Health and Human Services-Coronavirus Disease 2019 (COVID-19) Local Health Entities
Texas Education Agency Coronavirus (COVID-19) Support and Guidance
Texas Comptroller About State of Emergency COVID-19 News Help is Available
For Arizona residents and businesses, listed below are links to websites about Coronvirus 2019, or COVID-19. In addition to HCVT Tax Alerts, we hope you find this information helpful.
State of Arizona-Coronavirus Update
Arizona Department of Health Services-Highlighted Infectious Diseases for Arizona
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