MAY 6, 2020 On April 3, 2020, banks, credit unions, and community lenders throughout the U.S. started to accept applications from businesses for the new Small Business Administration lending facility, the Paycheck Protection Program, created by the CARES Act. Aimed at providing immediate relief to small and mid-sized businesses across the country in response to COVID-19, the program was extremely popular and the initial $349 billion appropriation by Congress to fund the program soon ran out. O ...
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OSHA Requirements and Enforcement Guidelines in the Face of COVID-19
OSHA requires that employers provide a workplace free from recognized hazards that may cause injury or death to employees. These requirements apply to all businesses, with very few limited exceptions. The COVID-19 crisis has displaced certain requirements and, where applicable, OSHA has relaxed certain enforcement measures. This article shall address OSHA’s activity on these subjects to date. The OSHA COVID-19 webpage can be accessed at https://www.osha.gov/SLTC/covid-19/. Enforcement discreti ...
North Central CT Chamber | Positioning Your Business For Success When Connecticut Re-Opens Its Economy
THURSDAY - May 7, 2020 | 4:00 p.m. via ZOOM Webinar This webinar will focus on practical considerations for getting back to business, including: Employment Law – Return to Work Issues/Making Your Business Safety Compliant Navigating The Intersection of SBA and CARES ACT Relief Taxes – Filing, Declaring Losses, Deferring Payment of Payroll and Property Taxes, Saving Cash and Obtaining Forgiveness Under the Paycheck Protection Program Government Relief – Relief Certificatio ...
Business Expense Deductions and Paycheck Protection Program Loan Forgiveness
On April 30, 2020, the Internal Revenue Service issued Notice 2020-32 which provides guidance regarding the deductibility for Federal income tax purposes of certain otherwise deductible expenses incurred in a taxpayer’s trade or business when the taxpayer receives a loan pursuant to the Paycheck Protection Program (“PPP”) as authorized by the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Specifically, Notice 2020-32 clarifies that no deduction is allowed under the Intern ...
Windham Region Chamber | Positioning Your Business For Success When Connecticut Re-Opens Its Economy
Tuesday - May 12, 2020 | 11:30 a.m. via ZOOM Webinar This webinar will focus on practical considerations for getting back to business, including: Employment Law – Return to Work Issues/Making Your Business Safety Compliant Navigating The Intersection of SBA and CARES ACT Relief Taxes – Filing, Declaring Losses, Deferring Payment of Payroll and Property Taxes, Saving Cash and Obtaining Forgiveness Under the Paycheck Protection Program Government Relief – Relief Certificati ...