The document discusses key aspects of the Families First Coronavirus Response Act, including provisions for emergency paid sick leave and expanded family and medical leave, employer tax credits to help cover costs, and guidance for employers on implementing remote work arrangements and addressing workforce reductions during the COVID-19 pandemic. It also reviews Section 139 tax-free disaster relief payments that employers can provide employees.
CARES Act Update - What you Need to Know Heading into 2021Citrin Cooperman
During this webinar we focused on the interplay between the different CARES Act provisions, in particular PPP loans, Provider Relief Funds, and Medicare Advanced Payments, and how they may impact 2020 year-end planning and 2021 forecasting.
CARES Act Update - What you Need to Know Heading into 2021Citrin Cooperman
During this webinar we focused on the interplay between the different CARES Act provisions, in particular PPP loans, Provider Relief Funds, and Medicare Advanced Payments, and how they may impact 2020 year-end planning and 2021 forecasting.
Coronavirus emergency loans via cares act -small business guide & che...Mark Weber
Banks are still waiting for guidance from the regulatory agencies as to how these loans are to be administered and which banks will be able to provide the loan. It may take up to two weeks before they can begin accepting applications. The recommendation is to make contact with your banking relationships ASAP since there will be a lot of asks coming in short order. You should tell the bank that you plan to apply and ask for updates as they learn more.
Webinar: “Got a Payroll? Don’t Leave Money on the Table”PYA, P.C.
Under the CARES Act, every employer with a payroll has an opportunity to retain cash–whether they have a PPP loan or not. What employers need to know right now.
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) along with the Payroll Protection Program (PPP) offer all business owners relief, but the details can be confusing or overlooked.
Perhaps you don’t fully understand how the deferral of the employer’s share of Social Security taxes works. Maybe you wonder if the deferral even applies to you—good news, it does if you have a payroll!
Failure to fully understand your options could cost you money, at a time when “cash is king.”
As part of PYA’s ongoing commitment to sharing helpful guidance, Tax Principals Debbie Ernsberger and Mark Brumbelow outlined issues and opportunities within the CARES Act, and answered questions during a one-hour webinar that originally aired on Wednesday, May 20, 2020.
PYA hosted a complimentary one-hour webinar aimed at helping independent medical group owners, partners and practice executives, law firms, and financial advisors by offering strategies for physician practice survival. Practices are exploring every avenue to remain solvent while health systems express concerns about the survival of the independent groups in their communities.
PYA Principals Lori Foley and Jeff Bushong, along with Consultant Katie Ray, discussed:
Cash flow support, including the CARES Act Paycheck Protection Program and Medicare Advance Payments.
Staffing considerations, including the Families First Coronavirus Response Act (FFCRA), pay reductions, and furloughs.
Operations during crisis management, including topline revenue preservation and expense reductions.
The webinar took place Monday April 6, 2020, at 11:00 am EDT.
2020 Emergency Relief For Employers Called “Paycheck Protection Plan” Created...CMP
On March 27, 2020, President Trump signed Coronavirus Aid, Relief, and Economic Security Act (CARES Act), aimed at providing financial relief for American businesses in response to the economic fallout from the fast-developing coronavirus (COVID-19) pandemic.
Payroll Webinar: A to Z of Garnishments Part 1Ascentis
In this three part series on the proper handling and processing of garnishments we will discussed the rules, regulations and requirements as they apply to withholding and paying child support, tax levies, creditor garnishments and others.
In Part 1 we focus on Child Support. Payroll departments must know both the federal laws and the state laws and must determine which one applies to the child support withholding order. In addition to these laws and regulations, the federal rules now require that a standard Income Withholding Order (IWO) be used for all child support withholding garnishments. This webinar will review this form and its requirements. And although the IWO can include all the information necessary to comply with the order, employers must familiarize themselves with both federal and state regulations to avoid penalties and liabilities. Withholding monies for child support is not the only requirement that applies to providing for a child, medical support orders are required to be process by payroll as well. And these orders have their own rules and regulations on both the federal and state level.
“CARES Act Provider Relief Fund: Opportunities, Compliance, and Reporting”PYA, P.C.
PYA Principal Martie Ross spoke at the virtual North Carolina Healthcare Association Critical Access Hospital Statewide Meeting. The two-day event, “Quality Focus is a Finance Focus,” provided critical access hospital leaders with the opportunity to network and review data-informed strategies as well as updates to the Medicare Flexibility Program Project. It also provided guidance on federal compliance and tracking of Provider Relief Funds.
In “CARES Act Provider Relief Fund: Opportunities, Compliance, and Reporting,” Martie gave an overview of the history of distribution of those funds as well as regulations and guidelines including:
Statutory Language
Reporting Requirements
Use of Funds Calculation
Expenses
Risk Management
Martie presented Thursday, March 4, 2021.
If you would like guidance related to Provider Relief Fund regulations, or for assistance with any matter related to strategy and integration, compliance, or valuation, contact one of our PYA executives at (800) 270-9629.
Since March, PYA experts have closely tracked and carefully evaluated the pandemic’s impact on employed physician compensation. During this complimentary one-hour webinar, PYA Principals Angie Caldwell and Martie Ross highlighted five immediate considerations for hospitals and health systems to manage the storm. They also explored five longer-term considerations impacting future planning.
This webinar took place Friday, July 24, 2020, at 11 a.m. EDT, and was held in conjunction with:
Dallas-Fort Worth Hospital Council
Florida Hospital Association
Kansas Hospital Association
Montana Hospital Association
What the CARES Act Means for Independent Workers and Small BusinessesMBO Partners
What does the CARES Act mean for independent workers and small businesses? MBO Partners explains the nuances of this important act for COVID-19 relief.
Webinar: Free Money with Strings Attached – Cares Act Considerations for Fron...PYA, P.C.
PYA, in conjunction with the Montana Hospital Association, recently co-hosted a Frontier States Town Hall Meeting webinar, “Free Money With Strings Attached: CARES Act Considerations for Frontier States’ Healthcare Provider Organizations.” Principals Lori Foley, Martie Ross, and David McMillan introduced the CARES Act Provider Relief Fund including distribution formulas, the attestation process, the verification and application process, and ongoing recordkeeping requirement. They also answered attendees’ numerous questions regarding these matters.
“Regulatory Compliance Enforcement Update: Getting Results from the Guidance” PYA, P.C.
PYA Principal and Chief Compliance Officer Shannon Sumner and Consulting Senior Manager Susan Thomas presented “Regulatory Compliance Enforcement Update: Getting Results from the Guidance” at the virtual 2020 Montana Healthcare Conference. They reviewed the sources of regulatory enforcement and investigation information—guidelines, statutory updates, best practices, settlements, case studies, etc.—available to healthcare organizations. They will also discuss how to interpret and implement the guidance in order to strengthen the compliance function and protect the organization. The presentation covered:
Compliance regulatory requirements for healthcare organizations.
Guidance available for consideration in organizational compliance programs.
Internal and external reporting to ensure regulatory requirements are met.
Best practices for implementation of guidance.
Case studies for illustration of guidance implementation.
On-Demand Webinar: Compliance With New Provider Relief Funds Reporting Requir...PYA, P.C.
On September 19, the Department of Health and Human Services (HHS) published its Post-Payment Notice of Reporting Requirements. The Notice details the reporting requirements for all Provider Relief Fund (PRF) recipients that have received $10,000 or more in aggregate payments.
Under the PRF Terms and Conditions, a recipient may use the funds only for healthcare-related expenses and lost revenue attributable to coronavirus. The Notice provides the clearest direction to date regarding permissible uses of PRF funds.
PYA offered a 45-minute complimentary webinar that explained the new reporting requirements and delved into permissible uses. While many questions remain, we provided practical advice on the next steps in the reporting process.
The webinar took place Monday, October 5 at 11 a.m. EDT.
As many of us are working remotely during the COVID19 pandemic, we wanted to share some thoughts and
observations about how the pandemic could impact the
medical and retirement plans that you offer to your
employees.
Health Reform Bulletin 133 | Executive Order Directing Modifications to the A...CBIZ, Inc.
An Executive Order, signed on October 12, 2017, promotes modifications of certain aspects of the Affordable Care Act (ACA) (also see press statement). In a nutshell, this Executive Order directs the ACA’s governing agencies (Health and Human Services/Labor/Treasury) to address three
elements: formation of association health plans, expansion of short-term, limited-duration insurance, and expanding the rules to allow individual premium to be reimbursed through health reimbursement arrangements (HRAs). Briefly, this Executive Order directs the governing agencies to
The past 30 years has born witness to the collapse of the private pension system with for-profit employers, tax-exempt entities and now the governmental sponsors replacing defined benefit pension programs with defined contribution plans. This practice spawned a well-documented transfer of investment and funding risk from employer to employee. Now, most defined contribution plans render the employee the sole decision maker on the four factors that determine an employee's ability to retire successfully: contribution rate, investment strategy/return, time horizon, and spending needs in retirement.<br /><br /> In this presentation we will address what employers can do to help employees meet the demands of the new retirement plan era.
The legislative landscape in which retirement plans must operate is constantly evolving to meet the need for an appropriate level of industry regulation. Legislative and regulatory activity during 2013 to date has created numerous opportunities and challenges that retirement plan sponsors must address. In this program, Erik Daley, CFA, will provide an overview of this year's legislative and regulatory developments and focus on practical, consultative tips on how they might apply to your retirement plan.
Covid19 guidance for multiemployer plans and labor unions webinarWithum
COVID-19 Guidance: Multiemployer Plans and Labor Unions
In this webinar we talk about how COVID-19 is impacting Multiemployer Plans and Labor Unions, including relief programs and FAQs
Understanding the families first coronavirus response act (ffcra)Merchant Advisors
The Families First Coronavirus Response Act (FFCRA) is designed to help businesses and employers survive the COIVID-19 outbreak and stay intact. https://www.onlinecheck.com/blog/small-business-resources/understanding-the-families-first-coronavirus-response-act-ffcra/
Coronavirus emergency loans via cares act -small business guide &amp; che...Mark Weber
Banks are still waiting for guidance from the regulatory agencies as to how these loans are to be administered and which banks will be able to provide the loan. It may take up to two weeks before they can begin accepting applications. The recommendation is to make contact with your banking relationships ASAP since there will be a lot of asks coming in short order. You should tell the bank that you plan to apply and ask for updates as they learn more.
Webinar: “Got a Payroll? Don’t Leave Money on the Table”PYA, P.C.
Under the CARES Act, every employer with a payroll has an opportunity to retain cash–whether they have a PPP loan or not. What employers need to know right now.
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) along with the Payroll Protection Program (PPP) offer all business owners relief, but the details can be confusing or overlooked.
Perhaps you don’t fully understand how the deferral of the employer’s share of Social Security taxes works. Maybe you wonder if the deferral even applies to you—good news, it does if you have a payroll!
Failure to fully understand your options could cost you money, at a time when “cash is king.”
As part of PYA’s ongoing commitment to sharing helpful guidance, Tax Principals Debbie Ernsberger and Mark Brumbelow outlined issues and opportunities within the CARES Act, and answered questions during a one-hour webinar that originally aired on Wednesday, May 20, 2020.
PYA hosted a complimentary one-hour webinar aimed at helping independent medical group owners, partners and practice executives, law firms, and financial advisors by offering strategies for physician practice survival. Practices are exploring every avenue to remain solvent while health systems express concerns about the survival of the independent groups in their communities.
PYA Principals Lori Foley and Jeff Bushong, along with Consultant Katie Ray, discussed:
Cash flow support, including the CARES Act Paycheck Protection Program and Medicare Advance Payments.
Staffing considerations, including the Families First Coronavirus Response Act (FFCRA), pay reductions, and furloughs.
Operations during crisis management, including topline revenue preservation and expense reductions.
The webinar took place Monday April 6, 2020, at 11:00 am EDT.
2020 Emergency Relief For Employers Called “Paycheck Protection Plan” Created...CMP
On March 27, 2020, President Trump signed Coronavirus Aid, Relief, and Economic Security Act (CARES Act), aimed at providing financial relief for American businesses in response to the economic fallout from the fast-developing coronavirus (COVID-19) pandemic.
Payroll Webinar: A to Z of Garnishments Part 1Ascentis
In this three part series on the proper handling and processing of garnishments we will discussed the rules, regulations and requirements as they apply to withholding and paying child support, tax levies, creditor garnishments and others.
In Part 1 we focus on Child Support. Payroll departments must know both the federal laws and the state laws and must determine which one applies to the child support withholding order. In addition to these laws and regulations, the federal rules now require that a standard Income Withholding Order (IWO) be used for all child support withholding garnishments. This webinar will review this form and its requirements. And although the IWO can include all the information necessary to comply with the order, employers must familiarize themselves with both federal and state regulations to avoid penalties and liabilities. Withholding monies for child support is not the only requirement that applies to providing for a child, medical support orders are required to be process by payroll as well. And these orders have their own rules and regulations on both the federal and state level.
“CARES Act Provider Relief Fund: Opportunities, Compliance, and Reporting”PYA, P.C.
PYA Principal Martie Ross spoke at the virtual North Carolina Healthcare Association Critical Access Hospital Statewide Meeting. The two-day event, “Quality Focus is a Finance Focus,” provided critical access hospital leaders with the opportunity to network and review data-informed strategies as well as updates to the Medicare Flexibility Program Project. It also provided guidance on federal compliance and tracking of Provider Relief Funds.
In “CARES Act Provider Relief Fund: Opportunities, Compliance, and Reporting,” Martie gave an overview of the history of distribution of those funds as well as regulations and guidelines including:
Statutory Language
Reporting Requirements
Use of Funds Calculation
Expenses
Risk Management
Martie presented Thursday, March 4, 2021.
If you would like guidance related to Provider Relief Fund regulations, or for assistance with any matter related to strategy and integration, compliance, or valuation, contact one of our PYA executives at (800) 270-9629.
Since March, PYA experts have closely tracked and carefully evaluated the pandemic’s impact on employed physician compensation. During this complimentary one-hour webinar, PYA Principals Angie Caldwell and Martie Ross highlighted five immediate considerations for hospitals and health systems to manage the storm. They also explored five longer-term considerations impacting future planning.
This webinar took place Friday, July 24, 2020, at 11 a.m. EDT, and was held in conjunction with:
Dallas-Fort Worth Hospital Council
Florida Hospital Association
Kansas Hospital Association
Montana Hospital Association
What the CARES Act Means for Independent Workers and Small BusinessesMBO Partners
What does the CARES Act mean for independent workers and small businesses? MBO Partners explains the nuances of this important act for COVID-19 relief.
Webinar: Free Money with Strings Attached – Cares Act Considerations for Fron...PYA, P.C.
PYA, in conjunction with the Montana Hospital Association, recently co-hosted a Frontier States Town Hall Meeting webinar, “Free Money With Strings Attached: CARES Act Considerations for Frontier States’ Healthcare Provider Organizations.” Principals Lori Foley, Martie Ross, and David McMillan introduced the CARES Act Provider Relief Fund including distribution formulas, the attestation process, the verification and application process, and ongoing recordkeeping requirement. They also answered attendees’ numerous questions regarding these matters.
“Regulatory Compliance Enforcement Update: Getting Results from the Guidance” PYA, P.C.
PYA Principal and Chief Compliance Officer Shannon Sumner and Consulting Senior Manager Susan Thomas presented “Regulatory Compliance Enforcement Update: Getting Results from the Guidance” at the virtual 2020 Montana Healthcare Conference. They reviewed the sources of regulatory enforcement and investigation information—guidelines, statutory updates, best practices, settlements, case studies, etc.—available to healthcare organizations. They will also discuss how to interpret and implement the guidance in order to strengthen the compliance function and protect the organization. The presentation covered:
Compliance regulatory requirements for healthcare organizations.
Guidance available for consideration in organizational compliance programs.
Internal and external reporting to ensure regulatory requirements are met.
Best practices for implementation of guidance.
Case studies for illustration of guidance implementation.
On-Demand Webinar: Compliance With New Provider Relief Funds Reporting Requir...PYA, P.C.
On September 19, the Department of Health and Human Services (HHS) published its Post-Payment Notice of Reporting Requirements. The Notice details the reporting requirements for all Provider Relief Fund (PRF) recipients that have received $10,000 or more in aggregate payments.
Under the PRF Terms and Conditions, a recipient may use the funds only for healthcare-related expenses and lost revenue attributable to coronavirus. The Notice provides the clearest direction to date regarding permissible uses of PRF funds.
PYA offered a 45-minute complimentary webinar that explained the new reporting requirements and delved into permissible uses. While many questions remain, we provided practical advice on the next steps in the reporting process.
The webinar took place Monday, October 5 at 11 a.m. EDT.
As many of us are working remotely during the COVID19 pandemic, we wanted to share some thoughts and
observations about how the pandemic could impact the
medical and retirement plans that you offer to your
employees.
Health Reform Bulletin 133 | Executive Order Directing Modifications to the A...CBIZ, Inc.
An Executive Order, signed on October 12, 2017, promotes modifications of certain aspects of the Affordable Care Act (ACA) (also see press statement). In a nutshell, this Executive Order directs the ACA’s governing agencies (Health and Human Services/Labor/Treasury) to address three
elements: formation of association health plans, expansion of short-term, limited-duration insurance, and expanding the rules to allow individual premium to be reimbursed through health reimbursement arrangements (HRAs). Briefly, this Executive Order directs the governing agencies to
The past 30 years has born witness to the collapse of the private pension system with for-profit employers, tax-exempt entities and now the governmental sponsors replacing defined benefit pension programs with defined contribution plans. This practice spawned a well-documented transfer of investment and funding risk from employer to employee. Now, most defined contribution plans render the employee the sole decision maker on the four factors that determine an employee's ability to retire successfully: contribution rate, investment strategy/return, time horizon, and spending needs in retirement.<br /><br /> In this presentation we will address what employers can do to help employees meet the demands of the new retirement plan era.
The legislative landscape in which retirement plans must operate is constantly evolving to meet the need for an appropriate level of industry regulation. Legislative and regulatory activity during 2013 to date has created numerous opportunities and challenges that retirement plan sponsors must address. In this program, Erik Daley, CFA, will provide an overview of this year's legislative and regulatory developments and focus on practical, consultative tips on how they might apply to your retirement plan.
Covid19 guidance for multiemployer plans and labor unions webinarWithum
COVID-19 Guidance: Multiemployer Plans and Labor Unions
In this webinar we talk about how COVID-19 is impacting Multiemployer Plans and Labor Unions, including relief programs and FAQs
Understanding the families first coronavirus response act (ffcra)Merchant Advisors
The Families First Coronavirus Response Act (FFCRA) is designed to help businesses and employers survive the COIVID-19 outbreak and stay intact. https://www.onlinecheck.com/blog/small-business-resources/understanding-the-families-first-coronavirus-response-act-ffcra/
The Impact of Communicable Diseases, Including Coronavirus, on the Workplace ...Financial Poise
When it comes to dealing with communicable disease-related issues within the workplace, planning is everything. What kinds of things might an employer do to lessen the impact of a communicable disease disaster on their business? Join this panel of experts as they explore these topics: (1) FFCRA-eligibility, hardship waivers, benefits required; (2) Increased employer medical screening, testing & temperature taking; (3) Managing remote work, how to assess eligibility for remote work (job descriptions, accommodations, electronic access); (4) Workplace communication--HIPAA, privacy, etc.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/the-impact-of-communicable-diseases-on-the-workplace-2020/
"Families First Coronavirus Response Act"NonprofitHR
Inside this Publication:
-The Big Picture
-Emergency Paid Family Leave
-Emergency Paid Sick Leave
-Changes to Group Health Plan Coverage Related to COVID-19 Testing
See more resources in Nonprofit HR's Coronavirus Digital Information Portal. www.nonprofithr.com/covid19
Note: The two emergency leave programs under this Act are essentially an extension of FMLA. Nonprofits are not exempt from the Families First Coronavirus Act.
2020 The Families First Coronavirus Response ActCMP
The act requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19.
As businesses reel from the impact of COVID 19, both employers and employees face a crunch. The federal government, therefore, has provided some additional employer tax credits to ensure that employers are encouraged to keep employees on payroll via these credits.
Families First Coronavirus Response Act (FFCRA) WebinarEmilyBroadbent1
The Families First Coronavirus Response Act (FFCRA) provides for two sources of paid leave for employees in response to the coronavirus epidemic. The act applies to all employers with less than 500 employees. The act is intended to assist employers with recoupment of costs via payroll tax reimbursement. This webinar also will provide information on those credits.
COVID-19 Health & Welfare: Compliance for Employersbenefitexpress
As part of our continuing ERISA Compliance series, we covered such compliance topics and more in our April 9th webinar discussing COVID-19 and updates from the IRS and DOL concerning the Families First Coronavirus Response Act.
The Federal Government and New York State passed New Required Leave laws affecting ALL employers.
Donaldson Legal Counseling PLLC provides an in-depth review of these new requirements.
https://attorneylawny.com/what-all-employers-need-to-know-new-covid19-employee-leave-laws-federal-state/
The U.S. Chamber has hosted conference calls with Chamber's and their members, across the country. They've shared the 13 slides that currently sum up how small businesses can quickly access funding through the payment protection program, employer tax credits, and SBA loans/grants.
The need for remote work and possible workforce reductions is becoming a reality for many employers, and there are important considerations. Employers are faced with responding to employee concerns and requests for leave, as well as evaluating temporary layoffs or closures.
In essence, all of this leaves us overwhelmed and confused about what we can and cannot do as employers.
Understanding the requirements around protected leaves, payment of wages, and employee separations, including how to best communicate with employees during these challenging times, is essential.
This 1-hour webinar explore strategies for managing an influx work environment. Receive guidance from Luke Reese of Garrett Hemann Roberson PC, around how your employment decisions may be impacted by the evolving federal and state regulations.
Staffscapes, Inc. is a Human Resources Outsourcing firm that specializes in HR, Payroll & Benefits. We recently presented this slide show to a group of Colorado Small Business Owners and Managers and are sharing it with the general public today.
What Changes to Expect from the new Healthcare Law, presented by The National Federation of Independent Business, the leading small business association.
C-Suite Snacks Webinar Series: Modern Decision SupportCitrin Cooperman
The role of finance continues to evolve in response to the ever-changing business environment. In order to keep your business agile, it is important to make sure that you're fully benefiting from a best-in-class FP&A function.
During this C-Suite Snacks webinar, Dominic DiBernardo, Partner and Corporate Performance Management Practice Leader, discusses what modern decision support looks like and the ingredients for a great financial planning and analysis (FP&A) function.
“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
C-Suite Snacks Webinar Series: Building an Advisory BoardCitrin Cooperman
Many private businesses evolve to the point where adding an advisory board can be a significant resource for the owners and senior leadership team, as they accelerate growth and profitability in their companies.
During this C-Suite Snacks webinar, Mark Dailey, a partner at Newport, LLC and seasoned advisory board expert, discusses when you should evaluate building a board, the leading practices and board structures you should consider, and the responsibilities that come with running your board.
“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
C-Suite Snacks Webinar Series: Prepping Your Company's Financials for SaleCitrin Cooperman
The business acquisitions market is booming and it’s a seller’s market out there! What can you do NOW to make sure that your business is ready?
Join us at our upcoming C-Suite Snacks webinar as Peter Colgan, Transaction Advisory Services Practice manager, discusses what business leaders find most challenging about preparing their financials for sale and how to efficiently conquer those challenges through the lens of a sell-side financial due diligence.
“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
Preparing for the new lease accounting standard can seem like a daunting task. In this webinar, we reviewed how you can handle and prepare to navigate your business through the new lease accounting standard in 2022.
Lease Accounting: Preparing Your Business for 2022Citrin Cooperman
Making a smooth transition to the new lease accounting standards and putting new practices in place for the future is a top priority for any business as they plan for 2022. During this webinar session, we reviewed how you can handle and prepare to navigate your business through the new lease accounting standards.
Topics included:
- What private companies should think about for 2022
- How the lease accounting standards can impact your financial
statements, financial covenants, and taxes
- Identifying opportunities for your business due to the new lease
accounting standards
High Net Worth Webinar Series - Tax Planning and Update for 2022Citrin Cooperman
As 2021 comes to an end, business owners and individuals are seeking opportunities to maximize their savings through year-end tax planning. This webinar session will help you navigate the many complexities, obstacles, and impending tax landscape changes that the 2021 tax year brings to the table and what 2022 has in store.
C-Suite Snacks Webinar Series: The Talent Wars - Can Benefits Be Your Secret ...Citrin Cooperman
In today’s candidate-driven job market, offering a competitive benefits package can significantly improve your company’s success in both attracting and retaining talent. In this webinar session, Shaun Gagnon, president and managing partner of Cambridge Insurance Advisors, shares his insights on maximizing your employee benefits to attract employees and combat the talent shortage.
Topics included:
• Trends in open enrollment and wellness fairs
• Popular and practical benefits
• The war on talent
• Cost increases and how to deal with them
“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
High Net Worth Webinar Series - The Business of Digital Assets & BlockchainCitrin Cooperman
The recent rise of Bitcoin and digital assets has created significant new opportunities and challenges for investors. This emerging asset class is transforming both the technology and finance industries. In this session, you will learn about Bitcoin, its progeny, the emerging use cases for digital assets, and how investors are getting involved.
High Net Worth Webinar Series - Estate Planning Strategies and UpdatesCitrin Cooperman
There’s much uncertainty in the world of estate planning for high net worth individuals and their families. With numerous legislative proposals that would drastically alter the current estate planning landscape, listen in as our Trust and Estate Services Practice team discusses: various proposals, including those in Congress and the Biden Administration’s Green Book, estate and gift planning strategies for the remainder of tax year 2021, and more.
Showtime for Shuttered Venue Operators Grant (SVOG) RecipientsCitrin Cooperman
We discuss the ever-changing guidance around the conditions attached to the distribution of these funds and the specific requirements your organization needs to execute.
C-Suite Snacks Webinar Series: A Year Like No Other - Manufacturing and Distr...Citrin Cooperman
Our second annual Manufacturing and Distribution Pulse Survey Report explores the impact of the pandemic on the industry, and how businesses have pivoted to survive, including managing new product offerings, technology implementation, and supply chain disruptions.
During this webinar session, we discussed how 200 leaders of M&D companies, ranging from $20 million to over $1 billion in revenue, responded to our survey.
Topics included:
• How COVID-19 has accelerated the 4th Industrial Revolution
• Product sourcing changes
• Business pivots and what made them successful
Manufacturing & Distribution Update: The Economic Impact on the IndustryCitrin Cooperman
This presentation focused on what the future is likely to bring to manufacturers and distributors as the nation attempts to claw its way back from the worst of the COVID-19 crisis.
High Net Worth Webinar Series: SALT Thoughts - Pass-Through Entity Taxes & Re...Citrin Cooperman
During this webinar, we discussed how to potentially mitigate the impact of the state and local tax (SALT) cap at the federal level. New York State has joined the list of states that have enacted an elective pass-through entity tax in an effort to do just that. We also dove into the possibility of changing residency to a low-tax or no-tax state. With state tax rates on the rise in some places and the realization that remote work is doable, many individuals are contemplating making a move. To succeed in making a change like this, one must be aware of the technical rules and be willing to significantly adjust one’s life. We talked through all these considerations.
The New Rage in SALT: State Pass-Through Entity TaxCitrin Cooperman
During this webinar, Partner Eugene Ruvere and Principal Jaime Reichardt take deeper dive into the new elective tax regime in New York, in addition to neighboring states like Connecticut, New Jersey, and Rhode Island, among others.
C-Suite Snacks Webinar Series: What's Your IP Worth? Discovering the Value of...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
Every day brings news of a new music catalog sale, strategic piece of intellectual property purchased by a large company or private equity firm, or major transaction of a patent-driven business.
During this C-Suite Snacks webinar session, we discussed which intangible assets and intellectual property are commanding the highest prices and what is behind the value of these assets. Key takeaways included:
- An overview of what drives IP value
- COVID-19 impacts on IP value
- Current IP value trends
C-Suite Snacks Webinar Series: Best-In-Class Finance and Accounting: Should Y...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
During this C-Suite Snacks webinar session, Jason Slivka, executive vice president of strategic initiatives, and Steve Ronan, principal and leader of our Business Process Outsourcing Practice, discussed how outsourcing your accounting function drives profitability and business value. They covered:
- Cleaning up historical books and records
- Combining in-house staff and outsourced capabilities
to get best-in-class expertise across your accounting
function
- How better forecasting and financial analysis drives
better management decisions
- Best practices for accounting technology
- Trends in middle-market accounting operations
C-Suite Snacks Webinar Series: Not Sold on Selling Your Business? Why Now is ...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
The recently proposed tax provisions in the Biden Administration’s American Families Plan should provide substantial incentives for business owners to discuss the creation of an Employee Stock Ownership Plan (ESOP).
During this C-Suite Snacks webinar session, Howard Klein and Heather Oboda covered more about ESOPs, including:
- An overview of what an ESOP is including financial and non-financial benefits
- The common misconceptions about ESOPs
- How the current tax proposals make an ESOP more attractive
MasterSnacks: Cybersecurity - Playing Offense: A Proactive Approach to Cybers...Citrin Cooperman
Sign up for our weekly MasterSnacks courses here: https://www.citrincooperman.com/infocus/mastersnacks
MasterSnacks, our C-Suite Snacks spin-off, brings you a series of topic-specific courses, using our snack-sized sessions to go in depth on content important to you. Join MasterSnacks live every Wednesday at noon for live exclusive sessions.
In today's world, a cyber attack happens every 39 seconds on average. For every doom and gloom story we can tell, there are also instances where another organization’s proactive defense has helped to avoid a cyber attack.
During our final MasterSnacks: Cybersecurity session, we discussed strategies your company can implement to move your IT environment from reactive to proactive. We also shared examples of current clients whose proactive positions have had a real impact in thwarting hackers' attempts at infiltrating their organizations. We covered:
- Case studies on companies that have successfully staved off cyber attacks
- Proactive strategies for protecting your infrastructure
- Automated tools to facilitate more timely evaluation and monitoring
MasterSnacks: Cybersecurity - Disaster Recovery: Hoping for the Best but Plan...Citrin Cooperman
Sign up for our weekly MasterSnacks courses here: https://www.citrincooperman.com/infocus/mastersnacks
MasterSnacks, our C-Suite Snacks spin-off, brings you a series of topic-specific courses, using our snack-sized sessions to go in depth on content important to you. Join MasterSnacks live every Wednesday at noon for live exclusive sessions.
Since a disaster is more a matter of “when” and not “if,” it’s critical to have a plan in place to ensure a rapid recovery. Whether it’s a natural cataclysm or a human-made catastrophe, having actionable, tested steps in place to recover could mean the difference between a brief outage and weeks of downtime.
During session 2, we covered disaster recovery planning. Key takeaways included:
- Knowing the key components to include in a plan
- Understanding Recovery Time Objective (RTO) and Recovery Point Objective (RPO)
- Differentiating between disaster recovery, business continuity, and incident response plans
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
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Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Tax Facts to Successfully Navigate the Families First Coronavirus Response Act
1. TAX FACTS
TO SUCCESSFULLY
NAVIGATE THE
FAMILIES FIRST
CORONAVIRUS
RESPONSE ACT
CITRIN COOPERMAN WEBINAR
evolutionMonday, March 30, 2020
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PRESENTED BY:
CITRIN COOPERMAN
HODGSON RUSS
2. WELCOME / KEY REMINDERS / USING ZOOM
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• The webinar is 1 hour and based on your participation, you can earn up to 1 CPE credit..
• You must reply to 3 polling questions to receive the full credit.
• Please join the webinar using your computer audio. You will join in listening mode only.
• You will have the opportunity to submit questions to our presenter by typing your
questions into the Q&A icon on the Zoom panel.
• Please complete the electronic course evaluation that will be launch at the conclusion of
the webinar.
• This session is being recorded and a link will be sent in a follow-up email.
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3. COVID -19 UPDATE
TITLE
• TBD
Welcome &
Introduction
Joseph Bublé CPA, MBA
PARTNER- TAX PRACTICE LEADER
NEW YORK OFFICE
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4. evolution AGENDA
• Families First Coronavirus Response Act
• Sec. 139 Disaster Relief Payments
• Other Leave Rights
• Workforce Reduction and Closure Mandates
• Wage and Hour Concerns for the Remote Workforce
• WARN Act Issues
• Coronavirus Aid, Relief, and Economic Security
(CARES) Act
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5. COVID -19 UPDATE
TITLE
• TBD
FAMILIES FIRST,
SEC 139, & FMLA
Paul H. Dailey, CPA, MBA
PARTNER
NEW YORK OFFICE
Michael Kline, CPA, MST
PARTNER
PHILADELPHIA OFFICE
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6. Charles H.
Kaplan
Partner
COVID -19 UPDATE
TITLE
• TBD
Peter C. Godfrey
Partner
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Charles H. Kaplan
Partner
Kinsey A. O’Brien
Sr. Associate
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7. evolution PRESIDENT TRUMP SIGNS FAMILES
FIRST CORONAVIRUS RESPONSE ACT
Congress has passed and the President has signed the first of several bills to come, covering the Federal Government’s response to
the COVID-19 emergency. The law, which has an effective date of no later than 15 days from its signature (April 3) and expires
December 31, 2020, contains the following three areas that most directly impact employees and their employers. A brief summary of
the law is below, but there are many details and unanswered questions that need to be addressed as the law is rolled out.
The provisions apply to all Covered Employers, defined as private sector employers with fewer than 500 workers as well as to
governmental agencies.
Emergency Sick Leave
Covered Employers will have to provide employees who cannot work (on site or remotely) with paid sick time off (as described below)
if an employee falls into one of the following categories:
• Is subject to a Coronavirus quarantine or isolation order;
• Has been advised by a health care provider to self-quarantine;
• Is experiencing Coronavirus like symptoms and is seeking a diagnosis;
• Is caring for an individual in the first two categories;
• Is caring for a child whose school or place of care is closed or the regular child care provider is not available due to Coronavirus
precautions; or
• Is experiencing any other substantially similar conditions specified by Health and Human Services in coordination with the Treasury
or Labor Departments.
Full time employees are to receive 80 hours of sick leave and part timers are to receive leave equivalent to their average number of
hours worked in a two-week period. This leave must be made available for immediate use regardless of the employee’s tenure with
the employer.
Workers taking leave in the first three categories will have to be paid their normal wages or the applicable minimum wage, whichever
is greater and is capped at $511 per day and $5,110 in total. Workers taking time off for family reasons (the fourth through sixth
categories) must receive two thirds of their wages or minimum wage, and is capped at $200 per day and $2,000 in total.
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8. evolution PRESIDENT TRUMP SIGNS FAMILES
FIRST CORONAVIRUS RESPONSE ACT
Emergency Family Leave
Covered Employers must allow up to 12 weeks of Family Medical Leave Act leave for any employee who has been with the employer
for at least 30 days and are unable to work because their minor child’s school or place of care has been closed or the regular child
care provider is not available due to coronavirus precautions.
The first two weeks of such leave can be unpaid (although an employee could opt to use PTO). After that time, the employee will
receive at least two thirds of their wages, with the daily benefit after that capped at $200 per day and $10,000 in total.
Generally speaking, the employee on leave must be restored to his or her prior position; however, this requirement does not apply to
employers with fewer than 25 employees if the position held by the employee on leave no longer exists due to economic conditions or
other changes in the employer’s operating conditions caused by the coronavirus pandemic, and the employer makes reasonable
efforts to restore the employee to an equivalent position.
Employees under a collective bargaining agreement and whose employers pay into a pension plan are eligible for the paid
emergency leave.
The Labor Department will issue regulations excluding certain healthcare providers and first responders and employers who have
less than 50 workers, if these requirements would jeopardize the viability of the business as a going concern.
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9. evolution PRESIDENT TRUMP SIGNS FAMILES
FIRST CORONAVIRUS RESPONSE ACT
Employer Tax Credit Provisions
Wages paid under either of these leave requirements will not be subject to the 6.2% social security payroll tax paid by
employers. The law is silent on the Medicare tax so it will continue to be imposed.
For sick leave wages, the credit is limited to $511 per day if the employee is on leave for categories one to three above and limited to
$200 per day for leave under categories four through six above. The credit is limited to 10 days of wages.
For family leave wages, a separate credit limitation applies and the limitation is $200 per day, up to an aggregate of $10,000.
For self-employed people, the credit is allowed against regular income tax. The limit on sick leave is determine by multiplying the
number of days (subject to limitation) that a self-employed person is unable to perform services under categories one to three above,
by the lesser of 100% of their average daily self-employment income or $511. The limitation is reduced to the lesser of 67% of their
average daily self-employment income or $200, if they can’t render services under categories four through six above. There is a
similar credit computation for family leave, wherein the number of days (limited to 50) that a self-employed person is unable to
perform services is multiplied by the lesser of 67% of their average daily self-employment income or $200.
Employers will receive refundable credits against their Social Security Tax liability to cover wages paid to employees under both
these programs.
Any credits granted in this program will be treated as taxable income to avoid a double tax benefit since the payment of the wages is
a deductible expense.
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11. FAMILIES FIRST CORONAVIRUS RESPONSE
ACT - ROAD MAP
FAMILIES FIRST CORONAVIRUS RESPONSE ACT (PL 116-127) (HR 6201)
SELF EMPLOYED ROAD MAP
Signed March 18, 2020
Emergency Paid Sick Leave Act
Eligibility: All employees of employers with fewer than 500 employees, regardless of the length of their tenure with their employer, are eligible for paid sick leave under the Emergency Paid Sick
Leave Act effective April 2,2020 through December 31, 2020.
Facts:
1. Employers may not require eligible employees to first use other paid leave provided by the employer. Paid sick leave under the Act is in addition to any paid sick leave or PTO currently provided by the
employer.
2. Employers may require employees to follow reasonable notice procedures to continue receiving paid sick time but may not require employees to provide advance notice prior to the first day which the
employee takes paid sick leave under the Act.
3. Employers must post a notice that advises employees of their rights under the Act. Department of Labor will create notice by March 25th.
QUALIFYING REASONS: ELIGIBLE EMPLOYEE BENEFITS: EMPLOYER REIMBURSEMENT:
Employee subject to federal, state or local quarantine due to
COVID-19.
Full-time employees receive 80 hours of paid sick leave at
the employee's regular rate, not to exceed $511/day, $5,110
total.
Employers receive 100% reimbursement for paid sick leave
and the additional child care leave pursuant to the Act
including health insurance costs and no payroll tax liability
on the sick pay.
Employee was advised by health care provider to self-
quarantine related to COVID-19.
1. Employers can retain payroll taxes in lieu of making tax
deposits to help fund sick leave.
Part-time employees receive equivalent of the no. of hours
they would work on average at the employee's regular rate,
not to exceed $511/day, $5,110 total.
2. If payroll taxes held back are not sufficient in covering
qualified sick/child care leave paid, accelerated payment
from the IRS can be requested.
Employee is experiencing symptoms of COVID-19 and
seeking medical diagnosis. 3. Tax credits equal to the eligible sick pay and pro rata
health plan expenses can be claimed on Form 941 -
Employer's Quarterly Federal Tax Return. Credits in excess
of the employer's payroll tax will be refunded.
Employee caring for individual subject to quarantine due to
COVID-19 either by federal, state, local or a health care
provider.
Full and part-time employees receive 10 days of paid sick
leave at two-thirds of the employee's regular rate, not to
exceed $200/day, $2,000 total.
4. Credits claimed under the Act are included in the
Employer's gross income to offset the corresponding payroll
and health plan expense deductions.
Employee experiencing any other substantially similar
condition specified by the Secretary of Health and Human
Services.
Employee caring for employee's child whose school or place
of care is unavailable due to Covid-19.
Child Care Leave -In addition to 10 days paid sick leave, up
to an additional 10 weeks of paid leave is available at two-
thirds of the employee's regular rate, not to exceed
$200/day, $10,000 in total. Employers with fewer than 50
employees may be exempt from the child care leave.
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12. evolution FAMILIES FIRST CORONAVIRUS
RESPONSE ACT (PL 116-127) (HR 6201)
Signed March 18, 2020
EMPLOYER ROAD MAP
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Example: If an eligible employer paid $5,000 in sick leave and is otherwise required to
deposit $8,000 in payroll taxes, including taxes withheld from all its employees, the
employer could use up to $5,000 of the $8,000 of taxes it was going to deposit for making
qualified leave payments. The employer would only be required under the law to deposit
the remaining $3,000 on its next regular deposit date.
If an eligible employer paid $10,000 in sick leave and was required to deposit $8,000 in
taxes, the employer could use the entire $8,000 of taxes in order to make qualified leave
payments and file a request for an accelerated credit for the remaining $2,000.
13. FAMILIES FIRST CORONAVIRUS RESPONSE
ACT - ROAD MAP - CONTINUED
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Self Employed Individuals
QUALIFYING REASONS: Credit Against Self Employment Tax
Self employed person subject to federal, state or local
quarantine due to COVID-19.
Self employed person was advised by health care provider
to self-quarantine related to COVID-19.
an amount equal to the number of days, up to 10 days, during
the taxable year the individual is unable to perform services
multiplied by $511 or 100% of average daily SE income for
the taxable year, whichever is less.
Self employed person is experiencing symptoms of
COVID-19 and seeking medical diagnosis.
Self employed person caring for individual subject to
quarantine due to COVID-19 either by federal, state, local
or a health care provider.
Average daily self employment income is the amount equal to
the net earnings of the self employment of the individual for
the taxable year, divided by 260
Self employed person experiencing any other substantially
similar condition specified by the Secretary of Health and
Human Services.
an amount equal to the number of days, up to 10 days, during
the taxable year the individual is unable to perform services
multiplied by $200 or 67% of average daily SE income for the
taxable year, whichever is less.
Self employed person caring for employee's child whose
school or place of care is unavailable due to Covid-19.
References:
IRS News Release 3/20/20.
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14. evolution SECTION 139 – TAX-FREE BENEFITS to
EMPLOYEES – COVID-19
Qualified Disaster Relief Payments
Treated as a tax-free fringe benefit
Not included as income by the employee
And, tax deductible by employer
Also, not treated as wages for purposes of employment taxes
Applies to a Federally declared disaster as defined in Section 165(i)(5)(A)
The President issued an “emergency declaration” under the Stafford Act as compared to a declaration of a disaster
The IRS, in issuing Notices 2020-17 and 2020-18, extended tax return deadlines as relying on Sec. 7508A,
which relates to a Federally declared disaster
Examples of expenses that are covered
Reasonable & necessary personal, family, living, or funeral expenses incurred as a result of a qualified disaster
• Child care or tutoring
• Over the counter medications
• Telecommuting costs, including work-from-home expenses
• Transportation and health related
Examples of expenses that are not covered
• Reimbursed through insurance
• Wage replacement costs
• Non-essential or luxury
There is no cap on how much an employer can provide under Sec. 139 to employees
• No written plan is required
• Employees are not required to substantiate expenses
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16. evolution OTHER POTENTIAL LEAVE RIGHTS
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Absences related to COVID-19 may also be covered by other laws:
• Regular unpaid FMLA where the employee or a covered family member has a “serious health
condition.”
• State laws adopted in response to COVID-19 (e.g., New York COVID-19 Paid Sick Leave Law
for employee quarantine/isolation orders).
• State leave laws (e.g., New York Paid Family Leave, New Jersey Family Leave Act,
Connecticut Family and Medical Leave Act).
• State and local paid sick leave laws (e.g., New Jersey Paid Sick Leave Act, Connecticut Paid
Sick Leave Law, NYC Earned Sick and Safe Time Act, Westchester County Paid Sick Leave).
• Reasonable accommodations for employees with disabilities (e.g., underlying medical
conditions that render them more susceptible).
• Employer’s policies and collective bargaining agreements.
17. evolution WORKFORCE REDUCTION
AND CLOSURE MANDATES
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In response to the COVID-19 pandemic, Governors of several states have mandated workforce
reductions and business shutdowns:
• New York: Executive Order required a 100% reduction of the in-person workforce as of March
22, 2020. The only exclusion is for “essential business or entity providing essential services or
functions.”
• Connecticut: Executive Order requires all “non-essential” businesses to shut down or have
workers their employees to work from home, effective March 23, 2020 through April 22, 2020.
• New Jersey: Executive Orders require residents to stay home except for certain necessary
travel, for all non-essential retail businesses in the state to close until further notice, and for
other employers to allow as many people as possible to work from home.
• Pennsylvania: Executive Order requires all “non-life sustaining businesses” to close effective
March 21, 2020.
18. evolution THE REMOTE WORKFORCE
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Exempt employees
• Generally must be paid their full salary in any week in which they perform any
work.
• If exempt employees are permitted or required to work from home, the employer
can institute protocols to monitor productivity (e.g., work logs, timesheets) and
discipline for lack of productivity.
• Employers generally may require exempt staff to use available PTO benefits
(assuming there is a bona fide plan) in the case of an office closure or other
COVID-19 related absence, whether full or partial day.
• Deductions may be made for absences of one or more full days due to sickness or
disability, if the deduction is made in accordance with a bona fide plan, policy or
practice of providing compensation for salary lost due to illness.
• After an exempt employee exhausts PTO, partial-week absences occasioned by
an office closure may not be deducted from salary.
19. evolution THE REMOTE WORKFORCE
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• Non-exempt employees
• Must be paid at least the minimum wage for all hours worked, plus overtime for
all hours worked in excess of 40, in a workweek.
• Employers should be particularly cautious about allowing non-exempt
employees to work from home.
• If working from home, non-exempt employees must accurately track and report
all hours worked.
• As with exempt employees, employers generally may require non-exempt staff
to use available vacation or other PTO benefits during COVID-19 related
absences.
• If a non-exempt employee takes time off related to COVID-19, does not work
from home, and has exhausted all paid time off and paid leave, the time off can
generally be unpaid.
• Compliance with required meal and rest break laws.
20. evolution THE REMOTE WORKFORCE
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During closure or shortage, employers may be inclined to look for “volunteers” to
help out.
• Under New York law, private for-profit employers generally cannot have
uncompensated volunteers.
• Non-profits and public agencies can use bona-fide volunteers – but not to
replace or augment paid staff to do the work of paid staff or do anything but
tasks traditionally reserved for volunteers (among other restrictions).
• Any “volunteers” will likely need to be compensated in accordance with federal
and state law.
21. evolution FEDERAL WARN ACT
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Applies to employers with 100 or more employees (excluding employees who have
worked less than 6 months in the last 12 months and not counting employees who
work an average of less than 20 hours a week).
Requires 60 days’ notice be given to employees before ordering a “mass layoff” or
“plant closing”
• A “mass layoff” is an employment loss during any 30-day period for either:
(a) at least 50 employees constituting 33% or more of the employer’s active
workforce or (b) at least 500 employees..
• A “plant closing” is a shutdown of an employment site or facility that results in
an employment loss for 50 or more employees during any 30-day period.
• Employment loss includes a layoff that exceeds 6 months in duration.
22. evolution WARN ACT- POTENTIAL EXCEPTIONS
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Unforeseeable Business Circumstances Exception
• To qualify, business circumstances must not have been reasonably foreseeable
when notice would have been required. May be established by the occurrence
of some sudden, dramatic and unexpected action or condition outside the
employer's control
• The employer must exercise commercially reasonable business judgment in
determining whether a business circumstance is reasonably foreseeable, and
provide as much notice as is practicable.
Natural Disaster Exception
• To qualify for this exception, the employer must establish that the reduction was
a direct result of a natural disaster (e.g., floods, earthquakes, droughts, storms,
tidal waves, tsunamis, or similar effects of nature).
• The employer must provide as much notice as is practicable and available
under the circumstances.
23. evolution WARN ACT- STATE & LOCAL
IMPLICATIONS
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A number of states and localities around the nation have enacted their own mini-
WARN statutes, including New York, New Jersey, California, and Philadelphia.
Connecticut also has a Plant Closing Law that creates certain health insurance
obligations when closing a plant.
Some state mini-Warn Acts track the federal WARN Act’s requirements, while
others:
• Extend coverage to smaller employers not covered by the federal WARN Act
• Lengthen the notice period
• Remove exemptions available under the federal WARN Act
• Impose additional penalties for non-compliance
• Require notice to additional local authorities
24. evolution COMPARISON OF FEDERAL WARN ACT
AND NEW YORK STATE WARN ACT
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• Covered Employers: Federal - 100 or more employees; NYS - 50 or more employees
• Notice: Federal - 60 days; NYS - 90 days
• Mass Layoff: Federal – 500 or more employees, or at least 33% of workforce and 50 – 499
employees lose employment
• NYS – 250 or more employees, or at least 33% of workforce and 25-249 employees lose
employment
• Plant Closing: Federal: 50 or more employees lose employment over a 30-day period
• NYS: 25 or more employees lose employment over a 30-day period
25. evolution CARES ACT
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President Trump signed the Coronavirus Aid, Relief, and Economic Security
(CARES) Act into law on March 27, 2020.
Components include:
• Corporate tax provisions.
• Individual tax provisions, including creation and advanced payments of
refundable tax credits to certain individuals.
• Suspension of student loan payments.
• Substantial increase to unemployment insurance benefits (state benefits plus
$600 per week).
• Small business loans useable for payroll support, salaries, rent and mortgages,
utilities, etc.
oAvailable to employers with up to 500 employees (or larger depending on
industry).
oLoan forgiveness if used to maintain payroll continuity during the covered
period of March 1, 2020 to June 30, 2020.
Loans also available to larger employers, with conditions.
26. evolution CARES ACT
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Corporate Tax Issues
• Modifications for net operating losses – CARES Section 2303
• Deductibility of interest expense temporarily increased – CARES Section 2306
• Modification of limitation on losses for non-corporate taxpayers – CARES Section
2304
• Acceleration of corporate alternative minimum tax credit – CARES Section 2305
• Bonus depreciation technical correction for qualified improvement property –
CARES Section 2307
• Temporary exception from excise tax for alcohol used to produce hand sanitizer –
CARES Section 2308
• Exclusion for certain employer payments of student loans – CARES Section 2206
• Employee retention credit for employers subject to closure due to COVID-19 –
CARES Section 2301
• Delay of payment of employer payroll taxes – CARES Section 2302
27. evolution CARES ACT
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Individual Tax Issues
• Advance Payments of Refundable Tax Credits to Certain Individuals – CARES
Section 2201
• Removal of Early Retirement Plan Distribution Penalty for COVID-19 Related
Payments – CARES Section 2202
• Waiver of Certain Retirement Plan Minimum Distribution Rules – CARES Section
2203
• New Above-the-Line Charitable Contribution Deduction for Non-Itemizers – CARES
Section 2204
• Increased Charitable Contribution Deduction for Individual Itemizers and
Corporations – CARES Section 2205