One of the many challenges of operating a not-for-profit organization during the coronavirus (COVID-19) pandemic is that just when you desperately need financial support, many donors are...
Donor care during the COVID-19 pandemic
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Federal Reserve Covid-19 Loans
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New COVID-19 law makes favorable changes to “qualified improvement property”
The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for many improvements to interior parts of nonresidential buildings. This...
IRS extends some (but not all) employee benefit plan deadlines
The IRS recently issued Notice 2020-23, expanding on previously issued guidance extending certain tax filing and payment deadlines in response to the novel coronavirus (COVID-19) crisis....
PPP and EIDL Loan Programs On Hold. What’s Next?
IMPORTANT NOTE: The PPP and EIDL programs are now replenished for round two. We encourage all eligible small businesses to apply now through their financial institution or through an...
PPP Loan Forgiveness
IMPORTANT NOTE: The SBA and the Treasury Department have released the eagerly awaited Paycheck Protection Program (PPP) loan forgiveness application and detailed instructions. The...
Using your financial statements during an economic crisis
The economic fallout from the coronavirus (COVID-19) pandemic has forced business owners to reevaluate their operations and make difficult decisions. One place to look for the information...
Relief from not making employment tax deposits due to COVID-19 tax credits
The IRS has issued guidance providing relief from failure to make employment tax deposits for employers that are entitled to the refundable tax credits provided under two laws passed in...
The Fed’s Main Street Lending Program: Who’s Eligible?
Questions and Answers on the central bank’s $600 billion direct-loan program The Federal Reserve announced the creation of new lending programs to help businesses that need access to cash...
CARES Act offers new hope for cash-strapped nonprofits
On March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. How is this massive $2 trillion recovery package poised to help your not-for-profit...