March 25, 2020
Business Owner CoronaVirus (COVID-19) Resources
W&D Coronavirus Resource Center
The coronavirus (COVID-19) is causing challenges for businesses across the U.S. We have compiled a list of resources to help business owners, management and individuals navigate this unprecedented situation.
This list will be updated regularly as the situation evolves and new relief initiatives are announced. Last Updated March 26, 2021 at 9:00 a.m.
> Webinars > Tax & Stimulus Relief Legislation > Financial Resources > Tax Resources > Employers
Paycheck Protection Program
Revised PPP Application Forms
- PPP First Draw Borrower Application Form
- PPP First Draw Borrower Application Form for Schedule C Filers Using Gross Income
- PPP Second Draw Borrower Application Form
- PPP Second Draw Borrower Application Form for Schedule Filers Using Gross Income
Revised PPP Loan Forgiveness Forms
- SBA Form 3508 Paycheck Protection Program Loan Forgiveness Application (updated 01-19-21)
- SBA Form 3508EZ Paycheck Protection Program Loan Forgiveness Application (updated 01-19-21)
- SBA Form 3508S Paycheck Protection Program Forgiveness Application (updated 01-19-21)
- Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act
PPP News
- PPP Deadline Extended 3.25.2021
- New Favorable PPP Loan Rules for the Self-Employed 3.4.2021
- Reopening of the PPP Forgivable Loan Program 1.9.2021
- Important PPP Changes and PPP2 1.8.2021
- Congress to Vote on New Stimulus Deal – Provisions and PPP Highlights 12.21.2020
- Necessity Questionnaire for PPP Loans over $2 million. 11.23.2020
- Ready to File for PPP Loan Forgiveness? 10.2.2020
- Who’s Subject to PPP Owner-Employee Forgiveness Limits? 8.25.2020
- PPP Loan Forgiveness? Don’t Rush in 8.25.2020
- NEW: Treasury Issues New FAQs on PPP Loan Forgiveness 8.7.2020
- NEW: Don’t Rush PPP Forgiveness: More Changes are Coming 7.28.2020
- Will Your PPP Loan be Automatically Forgiven? 7.27.2020
- AICPA Gives 5 Good Reasons Not to Rush Your PPP Forgiveness Application 7.15.2020
- Borrower-Friendly PPP Loan Forgiveness Applications and Guidance 6.17.2020
- Good News for PPP Borrowers: The Paycheck Protection Flexibility Act 6.11.2020
- PPP Loan Forgiveness Just Became Easier 6.4.2020
- New PPP Loan Forgiveness Guidance and Possible Congressional Changes 5.26.2020
- Treasury & SBA Release PPP Loan Forgiveness Application and Instructions. 5.18.2020
- Treasury & SBA Release Favorable Guidance for Economic Need Certification Requirement. 5.13.2020
- IRS Issues Guidance on the Ability to Deduct PPP Forgiven Expenses
- PPP Loan Forgiveness Frequently Asked Questions. 4.25.2020
- Interim Stimulus Plan Provides Round Two of PPP and EIDL Funding. 4.25.2020
- PPP Loan Forgiveness. 4.20.2020
- PPP and EIDL Loans On Hold. What’s Next? 4.20.2020
- PPP Program for Self-Employed and Independent Contractors Updated 4.20.2020
- SBA Issues PPP Frequently Asked Questions; Gives Favorable Answers. 4.7.2020
- SBA & US Treasury Frequently Asked Questions. Released late evening 4.6.2020
- SBA Answers More Key PPP Questions UPDATED; 4.4.2020 with Additional SBA Guidance
- Answers to More CARES Act Emergency Loan Questions 4.2.2020
- Q&A for CARES Act Emergency Loans – Round 1
COVID-19 Webinars
On-Demand
- NEW: Business & Individual Tax Highlights & PPP Changes Overview of the Consolidated Appropriations Act of 2021. 1.20.2021 VIEW LIVE RECORDING
- NEW: PPP2: Changes & Opportunities for 1st & 2nd Time PPP Borrowers. 1-21-2021. VIEW LIVE RECORDING
- Navigating the PPP Loan Forgiveness Process. December 10, 2020. ON-DEMAND – VIEW LIVE RECORDING
- How to Achieve PPP Loan Forgiveness & Updates. ON-DEMAND – VIEW LIVE RECORDING
- The Paycheck Protection Flexibility Act and New Loan Forgiveness Applications and Guidance. 6.24.2020. VIEW SLIDES
- The SBA Paycheck Protection Program Loan Forgiveness Application and New Guidance. 5.27.2020 VIEW LIVE RECORDING.
- PPP Loan Forgiveness Updates and Best Practices. 5.6.2020. VIEW LIVE RECORDING
- COVID-19 Stimulus and Other Options for Not-for-Profits. 4.23.2020. VIEW LIVE RECORDING
- COVID-19 STIMULUS – WHAT’S AVAILABLE FOR YOU?> CARES Act Individual Provisions for You and Your Employees. 4.9.2020 VIEW LIVE RECORDING
- COVID-19 Business Loans & Disaster Relief – New CARES Act Paycheck Protection Info and How to Apply. 4.1.2020 VIEW LIVE RECORDING
Legislation
The American Rescue Plan Act of 2021 (ARPA 2021)
President Biden has signed into law the 628-page The American Rescue Plan Act 2021 (ARPA), which includes $1.9 trillion in funding for individuals, businesses, and state and local governments. This is the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic that has haunted the country for the last year.
Consolidated Appropriations Act of 2021 (CAA 2021) – “Economic Aid Act”
The nearly 5,600-page Consolidated Appropriations Act of 2021, which is now law, expands and extends several critical provisions of the CARES Act enacted in the spring of 2020 to deal with the emerging financial and health care crisis. It also includes welcomed additions, clarifications, and changes to the PPP.
- CAA 2021 Key provisions for INDIVIDUALS
- CAA 2021 Key provisions for BUSINESSES
- Important PPP Changes and PPP2
- PPP Loan Program Reopens January 11, 2021
Executive Orders
What’s in the Recent Executive Orders? 8.11.2020
The Coronavirus Aid, Relief and Economic Security Act (CARES)
- What’s in the CARES Act for Individuals?
- What’s in the CARES Act for You and Your Business?
- What’s in the CARES Act for Nonprofits?
- CARES Act Makes Favorable Changes to Qualified Improvement Property
The Families First Coronavirus Response Act (FFCRA)
FFCRA was signed into law on March 18, 2020 and responds to the growing health and economic crises with provisions for paid sick leave, free testing, expanded unemployment benefits and more.
- UPDATE: 3.26.2020 – DOL Issues Emergency Paid Sick Leave Act (EPSLA) and Emergency Family Medical Leave Act (EFMLA) Guidance. DOL guidance provides good news for employers struggling with state ordered closures. It appears based on guidance that employers do NOT have to pay two weeks EPSLA due to lay-offs or state ordered closures either before or after FFCRA effective date (April 1, 2020). Instead, employees may be eligible for expanded unemployment benefits
- UPDATED: Business Owner Q&A – New COVID-19 Employer Requirements
Financial Resources and Loan Assistance
We have compiled a comprehensive, summarized list of COVID-19 emergency business loan assistance and disaster relief assistance at the Federal, State and City level. VIEW HERE.
Loan & Disaster Relief Programs
- NEW: EIDL Program Updates
- SBA PPP Loan Forgiveness Application & Instructions
- Federal Reserve’s Main Street Lending Program Update
- Illinois COVID-19 Relief Programs Update
- SBA Provides PPP Maximum Loan Calculation Formulas by Business Type
- The US Department of the Treasury Issues Guidance on Paycheck Protection Program Including How to Apply
- Q&A for CARES Act Emergency Loans – Apply Now
- CARES Act Small Business Emergency Loans
- Illinois Department of Commerce Emergency Small Business Grants and Loans Assistance
- Disaster Assistance Loans from the Small Business Administration – SBA
- City of Chicago offering small business loan program – Chicago Small Business Resiliency Fund
Lay-offs and Business Continuity Planning
- UPDATED WITH DOL GUIDANCE 3.26.2020: COVID-19 Employee Lay-Off Questions & Answers
- Business Continuity Planning (Provided by AON)
State Level Assistance
Since each state’s plan to assist businesses varies, the best thing business owners can do is check with their local governor’s office for the latest on state specific assistance, resources and updates. You can also check in with local small business organizations and agencies. Here is a list of state- and local-level small business resources to consult:
Tax Resources
Resources for Employers
Unemployment
- Illinois Emergency Unemployment Benefits for workers who unemployment is attributable to COVID-19 – IDES
- How to apply for Illinois unemployment
Responding to Coronavirus
- Guidance for Employers to Plan and Respond to Coronavirus Disease – CDC
- Coronavirus Q&A for Employers – MRA
- Coronavirus Disease (COVID-19): What You Should Know – CDC
- US Chamber of Congress Coronavirus Response Tool Kit – UCC
Preparing Workplaces for Coronavirus (COVID-19)
- Compensation Guidelines During the Cornoavirus Pandemic – MRA
- COVID-19: Wage and Hour Questions and Answers – DOL
- Guidance on Preparing Workplaces for COVID-19 – OSHA
- Plan Now for Coronavirus to Avoid Disruptions and Promote Safe Practices – CCH Wolters Kluwer
- Our People – Resources for Employees (Link to Convergence Coaching Coronavirus Resource Center)
Midwest State Health Resources
- Illinois Department of Public Health
- Iowa Department of Public Health
- Wisconsin Department of Health Services
- Minnesota Department of Health
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