John Bodnovich, ABL Executive Director
• American Society of Association Executives – ASAE Calls for More Association-Specific COVID Relief – ABL joined ASAE and nearly 3,000 associations across the country to call on Congress to provide additional aid for trade and professional associations impacted by the COVID-19 pandemic. Last week, Congress passed the CARES Act, a $2.2 trillion bill that provides extraordinary relief for individuals, small businesses, corporations, hospitals, state and local governments and 501(c)(3) nonprofit groups, but it does little to assist trade and professional associations experiencing severe revenue losses during the current crisis.
• U.S. Department Of Labor – Announces New Paid Sick Leave And Expanded Family and Medical Leave Implementation – The U.S. Department of Labor has announced new action regarding how American workers and employers will benefit from the protections and relief offered by the Emergency Paid Sick Leave Act and Emergency Family and Medical Leave Expansion Act, both part of the Families First Coronavirus Response Act (FFCRA). The department’s Wage and Hour Division (WHD) posted a temporary rule issuing regulations pursuant to this new law, effective April 1, 2020. WHD will post a recorded webinar on Friday, April 3, 2020, to provide interested parties a more in-depth description and help them learn more about the FFCRA. To view the webinar visit https://www.dol.gov/agencies/whd/pandemic.
• Night Club & Bar – Webinar Series Part III: COVID-19 Planning: 90 Ways to Survive the Next 90 Days – Starting on Friday, April 3 at 2:00pm Eastern, Night Club & Bar will host a webinar exclusively on the CARES Act for small businesses. Topics will include:
◦ The review of tax relief options for your business from the latest $2.2 Stimulus Package.
◦ Ranking and prioritizing the small business loans available and how to secure them.
◦ Guidance on best ways to increase your cash flow immediately.
• REMINDER: The Small Business Administration (SBA) will begin accepting loan applications on the following dates:
◦ April 3, 2020 for small businesses and sole proprietorships
◦ April 10, 2020 for independent contractors and self-employed individuals
To help prepare for the application, business owners should gather the following information and documents:
◦ 2019 IRS Quarterly 940, 941 or 944 payroll tax reports
◦ Last 12 months of Payroll Reports beginning with your last payroll date and going backwards 12 months (e.g. gross wages for each employee, paid time off for each employee, vacation pay for each employee)
◦ 1099s for 2019 for independent contractors that would otherwise be an employee of your business
◦ Documentation showing total of all health insurance premiums paid by the Company Owner under a group health plan
◦ Document the sum of all retirement plan funding that was paid by the Company Owner (do not include funding that came from the employee’s out of their paycheck deferrals)