We have attempted to aggregate a lot of different COVID-19 federal, state and local resources that might be valuable to you, your employees or your business.
Federal Legislative Tax Updates
Payroll Tax Deferral – Employers may change their employees withholding.
IRS issues guidance on COVID-19 testing coverage – In Notice 2020-66, the IRS said that COVID-19 testing and diagnostics services would not be considered minimum essential coverage for purposes of the Sec. 36B premium tax credit and Medicaid.
Tax Briefing of the Consolidated Appropriations Act 2021 from CPAmerica
Consolidated Appropriations Act – Updates to PPP, FFCRA, and Payroll
JMF PowerPoint Slides explaining the Consolidated Appropriations Act – given to Chamber of Commerce business webinar in January 2021
American Rescue Plan Act of 2021 – What’s in it for me?
American Rescue Plan Act Summary regarding
COBRA Premium Assistance and DCAP/Exchange Health Insurance
Q&A about the
Advanced Payments on the Child Tax Credit
Big Improvements to Child Tax Credit for 2021 Only Paycheck Protection Program
PPP Loan Neccessity Questionnaire requirement PPP
deadline changed from March 31 to May 31, 2021
Revised Form 3508S as of January 19, 2021 – simplified loan forgiveness form for PPP loans for $150,000 or less
Are you going to apply for PPP second draw loan? UPDATED for January 2021 –
PPP Borrower Application Form UPDATED for January 2021 –
PPP Second Draw Borrower Application Form – used for companies that already received a PPP loan and is now requesting another PPP loan
PPP Loan Forgiveness Powerpoint – December 2020 update given with Chamber of Commerce of West Alabama
JMF Video on PPP Loan Forgiveness – JMF CPAs Kristi Moore and Thomas Hahn explain the latest process to apply for your PPP loan forgiveness; Created 10/22/2020 JMF Blog with
Guidance for PPP Loan Forgiveness
PPP forgiveness simplified for loans of $50,000 or less. That accounts for 2/3 PPP loans as reference. Application Form for $50k or less PPP loans
PPP borrowers, lenders get change in ownership guidance
PPP Forgiveness platform will open August 10 – you must go through your lender who did the PPP loan
PPP application window has been re-opened until August 8 Recorded
webinar explaining updated PPP Loan Forgiveness Application – co-hosted with West Alabama Chamber of Commerce, presented via Zoom on June 23, 2020 JMF
slides explaining June updates for PPP Loan Forgiveness – presented in above recorded webinar New
SBA Guidance on PPP Loan Forgiveness re Flexibility Act Updated
PPP Loan Forgiveness Application – revised as of June 16
PPP Loan Forgiveness Application EZ Form US Chamber
Guide to PPP Loan Forgiveness
PPP Flexibility Act Modifies Requirements
PPP Loan Forgiveness Application – replaced with June 16 version above
PPP Loans Under $2M Get Safe Harbor JMF Video
Webinar with Chamber on PPP Loan Forgiveness calculations and FAQs
PPP Safe Harbor Provision Extended to May 14
No tax deduction for payments that result in PPP loan forgiveness
PPP Borrowers Must Certify That PPP Loan is Necessary
Updated PPP Loan Forgiveness Slides updated as of May 11, 2020
PPP Loan Forgiveness Slides – explains what is allowable, forgivable, and how the process works, etc. as of April 29,2020
More Money for Businesses – April 21 Senate Passes Bill, House passed it on April 23, President Trump signed into law on April 24, and the PPP application process re-started on April 27.
Are you trying to contact the IRS?
What’s Next for the Paycheck Protection Program Loan Recipients? – How much can be forgiven and how can that be calculated? CARES ACT –
Paycheck Protection Program & 3/31 New Guidance – Small businesses and sole proprietorships affected by the coronavirus pandemic can apply for loans beginning Friday, April 3. Independent contractors and self-employed individuals can apply starting April 10.
JMF Video explaining the Paycheck Protection Program ZOOM
Webinar with Scott Goldsmith on Walking through the Application for the Paycheck Protection Program – Hat tip to the Chamber of Commerce of West Alabama for hosting US Chamber 4-page PDF
Summary of Emergency Loans Updated
SBA PPP Loan Application (released ~April 2, 10 PM) CARES Act
Families First Coronavirus Response Act
Federal and State Tax Deadline Changes
Individual Tax Filing and Payment deadline is moved back to May 17 from April 15.
US Treasury officially changed the filing due date for tax returns from April 15, 2020 until July 15, 2020. Tax returns and tax payments are now both officially due on or before July 15, 2020.
Alabama Department of Revenue announced that Alabama filings and payments are also now due on July 15.
On March 27, 2020 the IRS reverses course and announced that
gift tax returns and taxes are also due July 15th.
two 2020 Quarterly Estimates will be due July 15.
Alabama State Legislative and Regulatory Updates
Revive Plus Summary – Applications for the grant program will be accepted between noon on Monday, November 23, and noon on Friday, December 4.
Alabama Announces $35M Health Care and Emergency Response Providers Grant Program The application period will be open from noon on October 5, 2020 through noon on October 16, 2020.
Statewide public mask requirement begins at July 16 5 pm. Extended multiple times now through April 9, 2021, and is not expected to be extended any further.
Revive Alabama Summary – Applicants can begin filing through MAT at NOON on July 16, 2020, through midnight July 25. Funds are first come first serve.
Governor Ivey Announces $100 Million Small Business Grant Program “Revive Alabama”
Alabama Safer at Home changes to above effective May 21
Alabama Safer at Home Order effective May 11
Alabama’s Safer at Home Order effective April 30, 5PM
Alabama’s Original Stay at Home Order effective March 28, 5PM
Alabama Unemployment Benefit Updated Information for Employers
ADOR Extends Sales Tax Relief to Small Businesses Due to COVID-19
ADOR Extends Relief to Lodgings Businesses
Alabama Announces Support for Workers Impacted by COVID-19
West Alabama Updates
Small Business Relief Fund
The Small Business Relief Fund is a Community Foundation of West Alabama fund offered in cooperation with the Chamber of Commerce of West Alabama. The fund was created to assist small businesses that have experienced a financial hardship as a result of Coronavirus (COVID-19).
West Alabama Regional Commission Small Business Revolving Loan Fund
The West Alabama Regional Commission’s RLF is a locally controlled loan program used to assist small local businesses and industries in their start-up and expansion activities. The goal of the program is to create new, permanent jobs for citizens of West Alabama while leveraging private sector investments.
West Alabama Community Response Fund by the United Way of West Alabama
The West Alabama Community Response Fund has been created to help with target areas of concern: Low income families with children; Workers whose hours may be cut; People who do not have the resources they need to stay safe and well; People who need up-to-date information on how to connect to resources; People who need assistance with basic human services/needs; Other target areas, as assessed
United Way of West Alabama Caring & Sharing COVID-19 Resource Guide
Chamber of Commerce of West Alabama COVID-19 Resource Page (daily updates)