Other - Updates

Other - Updates from state, federal and miscellaneous national organizations

SBA and Treasury Announce New EZ and Revised Full Forgiveness Application for the Paycheck Protection Program

The U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020. In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:

• Are self-employed and have no employees; OR
• Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
• Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%.

Click here to view the EZ Forgiveness Application.

Click here to view the Full Forgiveness Application. 

New HRA Webinar Series for Small Businesses

Learn about new HRA health insurance options for employers of all sizes to provide employees with tax-preferred funds to pay for qualified medical expenses, including the cost of health insurance coverage purchased in the individual market or Medicare. Register for the webinars hosted by the Centers for Medicare & Medicaid Services on  July 15 at 1:00 pm ET to learn more.

Register here.

IRS Provides Guidance on Employer Leave-Based Donation Programs that Aid Victims of the COVID-19 Pandemic

IRS Notice 2020-46 addresses the tax treatment of employees who elect to have their employers donate sick, vacation or personal leave as cash payments to charitable organizations that provide relief to victims of the COVID-19 pandemic.

The notice provides that the donated leave should not be treated as W-2 wages to the donating employees. The donated leave should not be included in Box 1, Box 3, or Box 5 of the form w-2. But employees may not claim a charitable contribution deduction for the value of the donated leave.

Please read the full notice for full details. 

IRS Taxpayer Assistance Centers Now Open to the Public in Phases

IRS - Taxpayer Assistance Centers (TACs) started opening on Monday, June 29 to the public in phases.  To ensure the safety of the public and employees, people seeking in-person assistance at a TAC will need to call 844-545-5640 to make an appointment. For Economic Impact questions, call 1-800-919-9835. 

US Census- Small Business Pulse Survey

This survey complements existing US Census Bureau data collections by providing high frequency, detailed information on participation in small business-specific initiatives such as the Paycheck Protection Program. In addition, it will provide detailed, timely information about how small businesses' operations and finances are being affected as well as measures of overall well-being and expectations for recovery. 

Small Business Pulse Survey Results

Scroll down to the second section called "Survey Response Detail" for data by week and state.

Governor Kemp Signs Two New Executive Orders

Governor Brian P. Kemp signed two executive orders extending the Public Health State of Emergency and existing COVID-19 safety measures.

Executive Order 06.29.20.01 extends the Public Health State of Emergency through 11:59 PM on August 11, 2020. The Public Health State of Emergency allows for enhanced coordination across government and the private sector for supply procurement, comprehensive testing, and healthcare capacity.

Executive Order 06.29.20.02 continues to require social distancing, bans gatherings of more than fifty people unless there are six feet between each person, outlines mandatory criteria for businesses, and requires sheltering in place for those living in long-term care facilities and the medically fragile. The order also outlines that the State Board of Education must provide "rules, regulations, and guidance for the operation of public elementary and secondary schools for local boards of education" in accordance with guidance from Dr. Kathleen Toomey, the Department of Public Health, and the American Academy of Pediatrics. The order runs through 11:59 PM on July 15, 2020.

Click here to go directly to list of recent executive orders. 

COVID-19; Rebuild and Recovery

Please view our website for a list of best practices as well as other useful information in regards to reopening a business in Georgia.

Click here for more information.