CDC Guidance on Reopening Businesses
The CDC has given guidance for reopening certain businesses under specific circumstances. Businesses should start developing their reopening plans with these guidelines.
Category: COVID-19
PPP Loan Forgiveness Application
On May 15, 2020, the SBA published its PPP Loan Forgiveness Application, with instructions, providing some clarity about allowing borrowers to use their regular payroll schedule. Borrowers were concerned about matching their payroll cycle to the testing or covered period in the forgiveness formula.
Arizona Stay At Home Order Expires May 15, 2020
Arizona Governor Ducey announced retail, including retailers in indoor shopping malls, pools, gyms, fitness providers, spas, massage therapists, and personal services may open on May 13, 2020, with physical distancing and enhanced sanitation.
PPP Repayment Deadline Extended to May 14, 2020
The Trump Administration extended the deadline for companies to repay PPP loans from May 7, 2020 to May 14, 2020. The decision comes after many groups and organizations requested the administration provide additional time for companies to determine if they would return the funds.
PPP: Tax Responsibilities and Disbursement Rules
The IRS and SBA issued guidance clarifying certain rules about PPP. Whether you have a loan already or preparing to apply, you should be aware of tax responsibilities and disbursement rules.
Arizona Restaurants and Salons to Reopen
Arizona Governor Ducey announced barbers and cosmetologists can resume operations on May 8, 2020, and dine-in restaurants on May 11, 2020, with safety protocols and best practices.
Arizona Stay Home Order Modified Through May 15, 2020
On April 29, 2020, Governor Ducey loosen some Stay Home restrictions, including a phased in approach for retail stores effective May 4, 2020. The Stay Home order remains in effect through May 15, 2020, with modifications.
Offering COBRA to Furloughed Employees
Are companies required to offer COBRA to employees that lose coverage under a group health plan due to a furlough relating to COVID-19?
COVID-19 CARES Act Net Operating Losses
The Internal Revenue Service issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses, offering a six-month extension to file on carrybacks.
CARES Act Provider Relief Fund
According to HHS, a portion of the $100 billion Provider Relief Fund will be used to reimburse healthcare providers, at Medicare rates, for COVID-related treatment of the uninsured. As a condition, providers are obligated to abstain from “balance billing” any patient for COVID-related treatment.
Paycheck Protection Program (PPP) Loan Forgiveness
Many Arizona small businesses received Paycheck Protection Program (PPP) funding to maintain payroll levels from loss of revenue. The Small Business Administration (SBA) released an Interim Final Rule addressing eligibility issues and requirements for certain pledges. The CARES Act requires the SBA to issue additional guidance on rules for loan forgiveness by April 27, 2020.
Arizona and Federal Tax Filing Dates | Estimated Tax Payments
The April 15, 2020 deadline for filing and paying Arizona and federal income taxes for the 2019 calendar year is July 15, 2020. The Arizona due date for first quarter estimated tax payments has not changed and remains April 15, 2020.