Covid-19 Guest Submissions

By Paul Neiffer CliftonLarsonAllen Walla Walla, Washington Email T. 509.823.2920 Both the Market Facilitation Program (MFP) and the Coronavirus Food Assistance Programs (CFAP) have Adjusted Gross Income (AGI) limits of $900,000 per entity / per individual.  However, if both the entity and each individual owner (if applicable) have at least 75% of its income from…

By Paul Neiffer CliftonLarsonAllen Walla Walla, Washington Email T. 509.823.2920 Farmers may be allowed to defer crop insurance income for one year when the farmer suffer damages, . However, certain steps must be met as follows: The farmer is on the cash method of accounting (about 99+% of farmers use the cash method); The farmer typically…

Statement by Anne Zimmerman, Co-chair of Small Business for America’s Future and a small business CPA, about Senate Republicans’ $1 trillion relief package released today Washington, D.C., July 27, 2020—It’s dismaying that Senate Republicans are opening their negotiations for the next Covid-19 relief package, the HEALS Act, with a proposal that dramatically slashes unemployment benefits for laid-off…

By The Main Street Alliance Email T. 303.868.9600 With COVID-19 on the rise in most states, and federal support for both small businesses and workers coming to an end, we are headed into a dramatically expanding fiscal crisis that has the potential to cause massive bankruptcies, permanent closures and decimation of Main Street small businesses.…

By Joe Gammons COVID-19 forced many of us to abandon our workstations at the office and work remotely from home. At first, the thought of strolling out of bed, grabbing a cup of coffee and flipping open the laptop – all while still wearing our pajamas – sounded like a great idea. Then, reality hit.…

By Richard Tower and Janna Rust and Karen Blacik and Karen Gries – CliftonLarsonAllen Email Key insights When PPP funds run out, EIDL loans serve as another viable option for small businesses and other organizations. The EIDL program provides an opportunity for other types of 501(c) organizations to obtain critical funding resources. If you’re interested…

By Jason Venner Director CliftonLarsonAllen Email T. 571.227.9518 Key insights OIG and internal audit offices can play a pivotal role in protecting COVID-19 relief funds and increasing their impact. Cybersecurity and fraud risks are increasing, and funds are being wasted as key programs are disrupted. CLA can help you immediately address these issues through a…

By Rick Krueger Principal CliftonLarsonAllen Email T. 414.721.7577 Key insights The SBA updated the loan forgiveness application and issued a new Interim Final Rule (IFR) to incorporate more of the Paycheck Protection Program Flexibility Act of 2020. New Form 3508EZ is available for borrowers who meet certain criteria. The application and IFR provide some key information for borrowers about how the PPP…

By Jennifer Boese Director CliftonLarsonAllen Madison Email T. 608.662.7635 On July 21, the Department of Health & Human Services (HHS) released several details about upcoming reporting requirements applicable to Provider Relief Fund (PRF) recipients. Embedded within those appears to be the first indication of a potential deadline to use PRF funds. Reporting Requirements HHS indicates any recipient…

RSW Announces Concourse C Re-Opening The Lee County Port Authority will reopen Concourse C at Southwest Florida International Airport on the morning of Wednesday, July 15, 2020. All departing and arriving flights for Delta Air Lines and United Airlines at RSW will resume operations in Concourse C. All passengers for Delta and United should proceed to…