HR Minute

Showing 4 posts from January 2021.

Economic Aid Act Second Draw Specific Regulations and Opening of Portal to Accept Applications for Second Draw Loans

Posted In Coronavirus

Coronavirus

Eligible borrowers who would like to obtain or increase their Paycheck Protection Program (PPP) funding will be able to act as early as this week, due to recent action by Congress and the U.S. Small Business Administration (SBA). On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (EAA) (included within the Consolidated Appropriations Act of 2021) became law. On January 8, 2021, the SBA announced that the portal to accept PPP loan applications, pursuant to the EAA, will re-open Monday, January 11, 2021. To promote access to capital, the SBA will initially only accept First Draw PPP Loan applications, including requests for increases on First Draw PPP Loan amounts, from community financial institutions. Second Draw PPP Loan applications will be accepted beginning January 13, 2021.

Continue reading Economic Aid Act Second Draw Specific Regulations and Opening of Portal to Accept Applications for Second Draw Loans ›

Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act) and Expansion of Employee Retention Credit (ERC) enacted by the CARES Act

Posted In Coronavirus

Coronavirus

On December 27, 2020, the Consolidated Appropriations Act of 2021 (CAA) became law. The CAA includes the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (the Act), which extends and expands the Employee Retention Credit (ERC) enacted by the CARES Act. Thus, thanks to the CAA, eligible employers may still have CARES Act tax credits available to them in 2021 that otherwise would have expired at the end of 2020, or for which they otherwise would not have been eligible, or for a larger credit than they might have qualified for otherwise.   

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Consolidated Appropriations Act of 2021: Payroll Tax Deferral Extension

Posted In Coronavirus

Coronavirus

The Consolidated Appropriations Act of 2021 was signed into law on December 21, 2020. The Act extended timeframes related to the Presidential Memorandum and Executive Order whereby the President directed the Secretary of the Treasury to allow for the deferral of the employee-portion of payroll taxes withheld under IRC Section 3101(a) (6.2% for Old-Age, Survivors and Disability Insurance) on wages earned during the period of September 1, 2020 through December 31, 2020 (“Deferral Order”). 

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Georgia Governor Institutes Post-Exposure Quarantine Requirements for Certain Businesses

Posted In Coronavirus

Coronavirus

In response to surging case numbers and crowded hospitals, Governor Kemp last week updated the requirements of the statewide Executive Order for the first time in several weeks. The update explicitly adopts a quarantine requirement for Georgians exposed to COVID-19 and imposes an obligation on certain businesses regarding such persons. The requirement does not apply to all businesses in Georgia, and it imposes different requirements on different kinds of businesses.

This Alert will describe the quarantine protocol and its general application to businesses in Georgia. We will publish additional guidance later this week regarding specific application of the quarantine protocol to children’s Camps, Live Performance Venues, and gyms and fitness centers.

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