Financial Operations
Provider Relief Fund Reporting Portal Now Open; Reporting Deadline Delayed
Recipients of Provider Relief Fund (PRF) payments exceeding $10,000 in aggregate must register through the Provider Relief Fund Reporting Portal
Financial Operations
SBA Establishes Procedures for Increasing First Draw PPP Loans
On January 13, 2021, the U.S. Small Business Administration (SBA) issued a Procedural Notice (the Notice) – First Draw Paycheck
Financial Operations
SBA Announces PPP Portal Access for All Lenders
On January 13, 2021, the U.S. Small Business Administration (SBA) announced that the portal to accept Paycheck Protection Program (PPP)
Financial Operations
EIDL Advances No Longer Reduce PPP Loan Forgiveness
On January 8, 2021, the U.S. Small Business Administration (SBA) issued a Procedural Notice (the Notice) – Repeal of Economic
Financial Operations
Webinar: New PPP & ERC Implications for Manufacturers
Plant shutdowns, employee furloughs, limitations on import/export activity, and more have disrupted manufacturing operations and profitability. Much needed relief may
Financial Operations
Webinar: Documenting Economic Uncertainty and the Necessity of PPP Loans
For months the SBA has indicated they will review forgiveness application for borrowers who, together with their affiliates, obtained PPP
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 1/4/21 – 1/8/21
Executive Summary Economic activity continues to generally improve with the exception of industries directly impacted by COVID-19-driven shutdowns. The jobs
Financial Operations
Second Draw PPP Loan Application Released by SBA
On January 8, 2021, the U.S. Small Business Administration (SBA) released the Second Draw Borrower Application Form, SBA Form 2483-SD,
Financial Operations
First Draw PPP Loan Application Eligibility and Requirements
On January 8, 2021, the U.S. Small Business Administration (SBA) released the Borrower Application Form, SBA Form 2483, for businesses
Financial Operations
PPP Second Draw Loan Eligibility: Calculating and Documenting Gross Receipts
This week, the U.S Small Business Administration (SBA) released the Interim Final Rule on Second Draw Loans (the IFR), discussed
Financial Operations
SBA Releases Guidance for Second Draw Loans
On January 6, 2021, the U.S. Small Business Administration (SBA) issued the Interim Final Rule on Second Draw Loans (the
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 12/19/20 – 12/31/20
Executive Summary 2020 ended with a strong December for the markets as momentum continued from November’s events. Economic data continues
Financial Operations
Congress Makes Business Meals Temporarily 100% Deductible
When Congress passed the Tax Cuts and Jobs Act (TCJA) in 2017, it significantly limited the tax benefits available to
Financial Operations
Basis, That is the Question! If Not Now, When?
The Consolidated Appropriations Act of 2020 (CAA) provided clarification and delivered welcome news for owners of pass-thru entities (S corporations
Financial Operations
The Individual and Business Tax Provisions in the Consolidated Appropriations Act of 2020
The Consolidated Appropriations Act of 2020 (CAA) marks the culmination of months of negotiation around bringing aid to Americans affected
Financial Operations
Enhancements to the Employee Retention Credit
Monday, December 21st, 2020, Congress passed the Consolidated Appropriations Act of 2021 (the Act) which included several enhancements to the
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 12/14/20 – 12/18/20
Executive Summary Markets continue to increase reflecting significant optimism, while the economic data continues to include mixed results. This week’s
Financial Operations
Webinar: Provider Relief Funds – What You Need to Know
HHS’s reporting portal for Provider Relief Funds (PRF) opens on January 15th and the first “use of funds” deadline is
Financial Operations
Tax Implications of PPP Funds Finally Align with Congressional Intent
On December 20, 2020, Congress agreed to terms of the Emergency COVID Relief Act of 2020 (the Act), which was
Financial Operations
Webinar: Tax Implications of PPP Loans
The CARES Act stated that forgiveness of a Paycheck Protection Program (PPP) loan would be considered tax-exempt income, but it
Financial Operations
The Top 10 PPP changes in the Bipartisan Emergency COVID Relief Act of 2020
On December 21, 2020, Congress passed the Emergency Coronavirus Relief Act (the Act), a component of the Consolidated Appropriations Act,
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 12/7/20 – 12/11/20
Executive Summary The current boom in tech IPOs is triggering memories for many of the dot-com bubble of the 1990s.
Financial Operations
What You Need to Know About PPP Economic Uncertainty Certification
On December 9, 2020, the Small Business Administration (SBA) released Paycheck Protection (PPP) Loan FAQ 53 which answers the question “Why are some PPP borrowers receiving a Loan Necessity Questionnaire?” As we previously
Financial Operations
CARES Act Reporting Requirements for Provider Relief Funds
The Department of Health and Human Service (HHS) reporting portal for Provider Relief Funds (PRF) opens on January 15, 2020
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 11/30/20 – 12/4/20
Executive Summary Post-Thanksgiving week data was telling, enforcing the emerging trend of a split between the economy and stock
Financial Operations
PPP Loan Necessity Questionnaire and More Documentation Requirements
For many borrowers of Paycheck Protection Program (PPP) loans, the loan necessity questionnaires – Form 3509 (used by for-profit entities) and Form 3510 (used by
Financial Operations
SBA Releases Details of PPP Loan Borrowers
On December 1, 2020, per order from U.S. District Judge James Boasberg, the Small Business Administration (SBA) released the names,
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 11/23/20 – 11/27/20
Executive Summary The separation between Wall Street and Main Street re-emerged this week with Wall Street reporting a very strong
Financial Operations
Webinar: Trends in Cross Border Payments
From the global pandemic to trade wars, the Cross Border Payment Industry has continued to innovate and thrive in
Financial Operations
Webinar: Paycheck Protection Program – SBA Assessing Necessity of PPP Loans and Other Forgiveness Concerns
For certain PPP borrowers, whether their loans were ever economically necessary will be determined by the SBA. Other borrowers seeking
Financial Operations
New Virtual Currency Tax Reporting and Compliance Measures Imminent
Despite explosive growth in the popularity of virtual currency, the Treasury Inspector General for Tax Administration (TIGTA) has determined that
Financial Operations
AICPA Pushes Back on PPP Loan Necessity Questionnaire Response backed by 80 National Organizations
We previously discussed the U.S. Small Business Administration’s (SBA) issuance of two loan necessity questionnaires, Form 3509 (used by for-profit entities) and Form 3510 (used by non-profit entities). This issuance was the first
Financial Operations
IRS Clarifies Tax Implications of PPP Funds
On November 18, 2020, the Internal Revenue Service (IRS) issued Revenue Ruling 2020-27 (Ruling) which provides needed clarity on a
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 11/9/20 – 11/13/20
Executive Summary With COVID-19 cases rising globally, the possibility of an approved and distributed vaccine before new shutdowns looms over
Financial Operations
Webinar: New PPP Forgiveness Forms-What You Need to Know
Contact an Aprio advisor for PPP loan forgiveness assistance by filling out the form below. If your organization’s PPP
Financial Operations
Webinar: Health IT – Right-sizing privacy and security compliance to your business stage
Health IT will see strong growth in a post-COVID economy. Your ability to land new customers and investors to accelerate
Financial Operations
Is Moving to the Cloud the Right Strategy for Your Business?
To cloud or not to cloud? If you are a growing technology company, moving to the cloud is an increasingly
Financial Operations
Webinar: Real Estate & Construction 2021 and Beyond M&A Webinar
As 2020 fades into the rear-view mirror, gain a competitive advantage in 2021 with Aprio’s webinar series: What’s Next
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 11/2/20 – 11/6/20
Executive Summary It was a strong week for the markets with a positive response to the election and the strongest
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 10/26/20 – 10/30/20
Executive Summary GDP numbers depicted the fastest growth the U.S. has experienced since the government began tracking GDP post-WWII. The
Financial Operations
Technology 2021 & Beyond M&A Webinar
As 2020 fades into the rear-view mirror, gain a competitive advantage in 2021 with Aprio’s webinar series: What’s Next
Financial Operations
SBA Releases Proposed PPP Loan Necessity Questionnaires for Borrowers $2M or Greater
On October 26, 2020, the U.S. Small Business Administration (SBA) issued a notice seeking approval from the Office of Management
Financial Operations
Webinar: How Full Time Equivalents (FTEs) Impact PPP Loan Forgiveness
The Paycheck Protection Program (PPP) was designed to help small businesses maintain their workforce. But what if the PPP
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 10/19 – 10/23
Executive Summary According to several data points, the economy shows continued signs of recovery at a slowing pace. The exception
Financial Operations
Webinar: Unpacking PPP Loan Forgiveness – What You Need to Know for Maximizing Forgiveness
Contact an Aprio Advisor for PPP loan forgiveness by filling out the form below. Your Covered Period is coming
Financial Operations
Which PPP Loan Forgiveness Application is right for you?
The ever-changing guidance for the Paycheck Protection Program (PPP) loan has caused borrowers to rethink their strategies several times. Now
Financial Operations
Maximizing the Employee Retention Credit – Determining Qualified Wages
If you aren’t familiar with the Employee Retention Credit (“ERC”), then you’ve come to the right place. We’re breaking this
Financial Operations
The Pulse – What’s Happening in the Economy and the Capital Markets: 10/12/20 – 10/16/20
Executive Summary Earnings season started with generally positive reports. Banks reported better loan performance than expected yet remain very cautious
Financial Operations
Equity Incentives: A Way to Grow Your Healthcare IT Company
If you’re involved in a Healthcare IT startup, you’ve likely lost more than a night’s sleep worrying about your technology’s
Financial Operations
Taxpayers with Foreign Bank Accounts Affected by U.S. Natural Disasters Get FBAR Deadline Extension
If you are a U.S. taxpayer that typically files a Foreign Bank Account Reporting (FBAR) form on FinCEN 114 and